With all the current travel restrictions in place, Hong Kong has loosened its border controls and is considering allowing senior executives from the financial sector to resume business travels into the territory.
The following requirements will apply:
- Fully vaccinated Executives of firms licensed by Securities and Futures Commission of Hong Kong (SFC) and their overseas affiliates
- Only four visitors are allowed per month – two of which are to be visitors and two others are returning executives
- Full disclosure of travellers itineraries and restriction in movements and accommodation
- Exempted from compulsory quarantine if requirements are met
This latest announcement will see an increase of travellers into the financial hub since the borders were tightened last year to limit the spread of the virus.
Organisations and travellers should note that the applications for travel must be made with a detailed itinerary for the entire duration of stay in Hong Kong and evidence that an approved vaccination has been received.
The SFC will receive applications for the exemptions and it is advisable to submit the applications at least 5 days prior to travel. Only travel deemed essential to business will be approved. Also, the details of all people the traveller will be in contact with during the trip will need to be shared.
Upon approval, an electronic authorisation letter will be issued by the Financial Services and the Treasury Bureau (FSTB).
The company will also need to submit an attestation form signed by a responsible officer or the equivalent of a manager in charge of compliance function every three working days or at the half way point of the trip whichever is earlier.
This is another step for Hong Kong’s economic recovery and it is strongly believed that further plans on relaxing of rules will be taken over the next couple of months to allow more travellers to visit the city.