Immigration consultants in Hong Kong have seen a dramatic surge in inquiries, especially from young people, after mass protests against an extradition bill that would allow people to be sent to mainland China for trial.
Young people are more interested in Asian destinations such as Taiwan, Malaysia and Thailand, in contrast to previous trends that saw many target nations such as Canada and Australia, thanks to cheaper immigration costs and better job prospects closer to home, immigration consultants said.
Last weekend, about 1,000 people attended an immigration seminar on Southeast Asia organized by Golden Emperor Properties, a rise from about 100 at its previous seminars.
“It’s the first time ever so many people have attended our seminar, and never before have we seen so many young people attending,” managing director Terence Chan (陳卓明) said, referring to interest from 30 and 40-year-olds.
Centaline Immigration Consultant general manager David Hui (許戴維) said that he had received more inquiries in the past two to three months as controversy over the bill intensified.
The number of inquiries from young people rose about 30 percent, he added.
Some Hong Kong tycoons have already started moving personal wealth offshore.
“Many people wouldn’t consider Southeast Asia before ... but one client told me jokingly he thought that region was not very politically stable, but now Hong Kong is even more unstable,” Chan said.
Southeast Asia was ideal for young people who do not have a lot of money, but are desperate to seek an “escape door,” he added.
Even though it is difficult to acquire permanent residency in some of these Asian nations, Chan said that people were happy with a long-term visa.
“They don’t mind, because they don’t want to be completely detached from Hong Kong,” he said.
A senior executive in the financial services industry said that companies were starting to look beyond Singapore to Thailand as a safe alternative to Hong Kong.
More Hong Kong people are also leaving for Taiwan, speeding up a trend in the past few years, citing fears of Chinese erosion of the “one country, two systems” formula, which Beijing hopes it could one day introduce in Taiwan.
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