Opinion on Further Improving the Measures on Endowment Insurance for Hong Kong, Macao and Taiwan Residents in Guangdong Province (Yue Ren She Gui [2019] No.48)
19 December 2019
The Department of Human Resources and Social Security of Guangdong Province, the Department of Finance of Guangdong Province, and the State Taxation Administration together with the Taxation Bureau of Guangdong Province jointly issued the “Opinion on Further Improving the Measures on Endowment Insurance for Hong Kong, Macao and Taiwan Residents (“the Residents”) in Guangdong Province” (“the Opinion”) on 19 December 2019. The main measures are as follows:-
- Residents with residence permits can participate in the endowment insurance scheme and enjoy the corresponding treatments and financial subsidies in the place of residence even when they are not yet employed;
- Encourage and support employers to establish enterprise annuities for employees (including high-level talents); and
- Employers can help residents who hold Categories A or B Superior Cards to apply for commercial endowment insurance.
The Opinion is valid for 5 years from 20 December 2019 onwards.