Notice from the Jiangmen Municipal People's Government on issuing the “Implementation Measures on strengthening the development of an innovation and entrepreneurship base for Hong Kong and Macao youths in Jiangmen” (Jiang Fu Han [2019] No. 99)
05 June 2019
The Jiangmen Municipal People's Government issued the notice on “Implementation Measures on strengthening the development of innovation and entrepreneurship bases for Hong Kong and Macao youths in Jiangmen” on 5 June 2019. The measures mainly include the full cancellation of work permits for Hong Kong and Macao residents, permitting them to conduct a series of employment and entrepreneurship matters, such as filing employment registration, making social security payments, setting up businesses, etc., with valid identity cards.
Abstract
The Jiangmen Municipal People's Government issued the above notice on “Implementation Measures on strengthening the development of innovation and entrepreneurship bases for Hong Kong and Macao youths in Jiangmen” on 5 June 2019.
Specific measures include the following:
- Provide policies that support Hong Kong and Macao youths to work or set up businesses in the Jiangmen city;
- Establishing a “1+7+N” Hong Kong and Macao youth innovation and entrepreneurship bases system;
- Cancelling work permits for Hong Kong and Macao residents, permitting them to handle a series of employment and entrepreneurship matters, such as filing employment registration, making social security payments, and setting up businesses etc. with valid identity cards;
- Promoting the use of electronic business licenses, promoting cross border remote handling business registration procedures, facilitating the offshore processing of business registration administration matters for Hong Kong and Macao investment companies;
- Reducing the steps and time for businesses registration, and committing to the “one day completion” registration for business in the Jiangmen city;
- Implementing loan securitisation and interest subsidy policies for start-up businesses, offering loans and interest subsidies to eligible Hong Kong and Macao youths with start-up businesses in the innovation and entrepreneurship bases;
- Providing housing subsidies and living allowances to eligible Hong Kong and Macao youths who are stationed in the innovation and entrepreneurship bases; and
- Providing financial subsidies to Hong Kong and Macao high-end talents and talents in shortage in light of the difference in the individual income tax burden between mainland China and Hong Kong; such financial subsidies should be exempted from the PRC Individual Income Tax.