Macau, China, 02 Mar – Macau’s Chief Executive Fernando Chui Sai On said Monday that the government would "review" its investment immigration policy based on the current needs of civil society.
The investment immigration policy was originally launched by the local Portuguese administration before the establishment of the Macau Special Administrative Region (MSAR) in December 1999.
According a statement from the Government Information Bureau (GCS), certain changes to the policy were made in 2005, requiring applicants to own a property in Macau with a value higher than one million patacas, have no less than 500,000 patacas of savings in local bank accounts, and have completed a bachelor’s degree or equivalent. However, the policy was suspended in 2007.
"At every stage of development, the needs (of civil society) may be different. I think it is necessary to conduct an investigation to understand the overall situation," Chui said.
Chui stressed that the requirements set out in the original policy may not address the needs of the current investment climate, adding that the government will commence the study this year to review its population and immigration policies.
Chui Sai On said details of the review of the population and immigration policies would be revealed in his policy address, which he will deliver before the Legislative Assembly on March 16.
Chui is due to head to Beijing Wednesday to attend this year’s annual plenary session of the Chinese 11th National People’s Congress (NPC).
It will be the first time he will took part in a NPC meeting since becoming Macau’s head of the government on December 20.