, 10 tweets, 2 min read
Thread: #Taiwan to lure the rich and shelter HK protesters - The island is eying money and talent, but is also willing to aid those facing charges in Hong Kong asiatimes.com/2019/08/articl…
Taiwan has reportedly been mulling further lowering the threshold for Hongkongers to apply for residency and live and work on the island, either via investments and setting up businesses or through a vetting mechanism for non-refoulement protection.
Taiwan is looking to capitalize on the new wave of exits by Hongkongers worried about their future. Taipei and other urban centers aim to woo Hong Kong’s crème de la crème as the island aspires to become a new hub of finance, trade and tertiary education in the region.
Hong Kong is starting to see a capital & physical flight as the chaos arising from a now-shelved China extradition bill has shown no sign of abating. Many Hong Kong residents are worried about the city’s survival as a financial center and an autonomous territory going forward.
Taiwan’s Central News Agency cited the Executive Yuan’s Mainland Affairs Council as saying that the government would give favourable consideration to Hongkongers applying for residency under the existing policy regime.
Under the current rules, a permanent resident of Hong Kong can apply for residency in Taiwan if they enroll into a tertiary institution, marry a Taiwanese, get hired by a local firm or start a business with a minimum investment of about NT$2 million (US$63,792).
If the unrest in Hong Kong takes a turn for the worst, the exodus will mean more high net value individuals may need to look for safer shores & countries like Taiwan and Singapore will be high on their list of destinations thanks to proximity and language and cultural affinity.
If some settle in Taiwan, their investments & consumption could be a boost to the economy, on top of a new talent pool ready to be tapped. Taiwan’s foreign ministry said the government would provide humanitarian assistance on a case-by-case basis to Hongkongers in need.
At least one dozen protesters charged by the Hong Kong government with rioting and illegal assembly have decided to jump bail and made a beeline for Taiwan, including some of those who rampaged through the city’s legislature on July 1.
Taiwan boasts being a genuine democracy, the public has a strong pathos towards Hong Kong and the ruling party stands up to Beijing. The island’s lack of an extradition or rendition agreement with Hong Kong or mainland China all add to the lure of the island.
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