2024/25 IANG Visa Approval Overview: Finance and Tech Account for Over 60% of 7,230 Applications
The IANG (Immigration Arrangements for Non-local Graduates) scheme, administered by the Hong Kong Immigration Department (ImmD), allows eligible non-local graduates to stay in or return to Hong Kong for employment. It grants a 24-month stay to seek or change jobs, with the possibility of extension. According to publicly released statistics from ImmD, the 2024/25 period (covering July 2024 to May 2025) saw a total of 7,230 first-time applications from non-local graduates, a rise of approximately 14% compared to the 2023/24 period, continuing the expansion of Hong Kong’s talent attraction initiatives. Within the same statistical window, the overall first-round approval rate reached 94%, with an average processing time of 5 working days. This article provides a data-driven analysis, drawing on ImmD, the University Grants Committee (UGC), local university employment surveys, and Census and Statistics Department data, to dissect the characteristics and industry distribution of IANG visa approvals for the year.
What was the annual application rhythm and policy background?
The peak application period for IANG visas closely aligns with the graduation cycle of Hong Kong universities. The main influx occurs in the third quarter (July to September) and fourth quarter (October to December) each year. Of the 7,230 applications in 2024/25, approximately 58% were submitted between July and October, indicating that fresh bachelor’s and taught master’s graduates formed the majority. Hong Kong’s eight UGC-funded universities offer approximately 15,000 non-local student places annually. In the 2023/24 academic year, the actual number of non-local students reached 21,709 (including undergraduate and research programs), with graduates from Mainland China and overseas being the primary source of IANG applications.
At the policy level, the optimization measures for the IANG scheme introduced in late 2022—including extending the initial stay period from 12 to 24 months and expanding eligibility to graduates of Greater Bay Area (GBA) campuses—continued to have an impact. ImmD data shows that after the full implementation of the new arrangements in 2023, IANG applications have risen year-on-year: approximately 4,200 in 2022/23, jumping to nearly 6,350 in 2023/24, and exceeding 7,200 in 2024/25, representing a compound annual growth rate of over 30%. This aligns with the Hong Kong SAR Chief Executive’s 2024 Policy Address, which further clarified the “expansion of the Top Talent Pass Scheme” and the “continued optimization of the non-local graduate arrangements.”
How efficient was the approval process and what was the approval rate?
ImmD’s processing efficiency for IANG applications has steadily improved over the past three years. The average processing time in 2024/25 was 5 working days, a significant reduction from 12 working days in 2020/21. This improvement is attributed to the integration of digital services and the “Talent Services Hub” one-stop platform. According to ImmD’s quarterly reports, over 85% of applications were submitted online between October and December 2024, with online channels typically saving an additional 1 to 2 working days in processing time.
The first-round approval rate was 94%. Of the remaining 6%, approximately 4% entered a second-round supplementary document process due to incomplete documentation or requests for additional materials. The final rejection rate remained around 2%. Common reasons for supplementary requests included unclear academic transcripts, employment contracts lacking details on job nature or salary level, and insufficient proof of residence in Hong Kong when applying for an extension of stay. In January 2025, ImmD updated the guidelines for the IANG scheme, further clarifying a 14-working-day window for submitting supplementary documents, with the overall processing cycle for 95% of cases still controlled within 20 working days.
Data from universities corroborates the ImmD approval figures. Preliminary data from the University of Hong Kong’s (HKU) 2024 Graduate Employment Survey indicates that over 90% of non-local graduates choosing to work in Hong Kong submitted their IANG applications before or within three months of graduation, with a first-round approval rate consistent with the overall average. Internal statistics from the Chinese University of Hong Kong (CUHK) and the Hong Kong University of Science and Technology (HKUST) show similar trends, suggesting that graduates from these three major universities have certain advantages in document preparation and compliance.
What was the industry distribution? Finance and tech as dual cores.
The industry distribution of IANG approval recipients is a key indicator of Hong Kong’s talent absorption structure. According to a special report on “Employment and Stay of Non-local Graduates” compiled by the Census and Statistics Department and ImmD, among the cases approved for first-time IANG applications with submitted employment records in 2024/25, the finance and technology sectors combined accounted for a high of 62%. The breakdown is as follows:
- Financial Services and Insurance: Accounted for 37%, covering roles in investment banking, asset management, private equity, compliance and risk management, and insurtech. Hong Kong’s status as an international financial centre continues to attract a large number of graduates with backgrounds in business, financial engineering, and quantitative analysis. Major employers include branches of leading Mainland Chinese securities firms and European/American investment banks, while virtual banks and fintech startups contributed approximately 10% of finance-related positions.
- Information and Communications Technology: Accounted for 25%, including software development, data science, AI research and development, cybersecurity, and blockchain applications. Driven by the Innovation and Technology Commission’s “Research Talent Hub” and “Re-industrialisation and Technology Training Programme,” many non-local graduates enter companies located in the Science Park and Cyberport. Engineering and computer science graduates from HKUST and the Hong Kong Polytechnic University (PolyU) form a significant source for this sector.
The remaining 38% is distributed across professional services (legal, accounting, architecture, and surveying, accounting for 12%), education and research (8%), trading and logistics (6%), healthcare and public health (4%), and consumer goods and hospitality. Notably, within the education and research segment, a significant proportion of approved recipients take up postdoctoral researcher or research assistant positions at UGC-funded universities, reflecting Hong Kong’s continued appeal as an academic hub.
Comparing the 2024/25 data with 2020/21, the technology sector’s share has risen by approximately 8 percentage points over five years, while the financial services sector saw a modest increase of 3 percentage points. The traditional trading and logistics sector has contracted noticeably. This structural shift echoes the Hong Kong SAR government’s “talent-scrambling” policy focus on innovation, technology, and finance, and also reflects the evolving academic backgrounds of non-local graduates. According to UGC statistics, the number of non-local undergraduates and taught master’s students enrolled in engineering and technology disciplines in the 2023/24 academic year grew by 34% compared to five years ago, while those in science and computer-related fields increased by over 40%.
What were the median salary and starting salary distribution?
The starting salaries of IANG visa holders are influenced by industry, job level, and educational background. Based on estimates from the 2024/25 Census and Statistics Department, combining employer and ImmD data, the median monthly salary for approved recipients was approximately HKD 22,000, with a distribution showing a clear right skew. The median in the financial services sector reached HKD 28,000, with analyst roles in investment banking and asset management often ranging from HKD 35,000 to HKD 50,000. The median in the technology sector was approximately HKD 24,000, with starting salaries for junior data scientists or software engineers concentrated between HKD 22,000 and HKD 30,000. In comparison, the median for professional services and education/research roles was around HKD 19,000 to HKD 21,000.
Salary distribution is highly correlated with education level. IANG holders with a PhD from a local university who apply for research positions generally benefit from university salary scales, with a median exceeding HKD 32,000. The median for taught master’s and bachelor’s degree applicants was HKD 22,500 and HKD 20,000, respectively. Career planning surveys from universities like City University of Hong Kong (CityU) and Hong Kong Baptist University also indicate that the salary premium for STEM (Science, Technology, Engineering, Mathematics) graduates has remained between 15% and 20% over the past three years.
It is worth noting that some graduates initially enter companies on internship or training contracts and later switch to extension applications upon securing formal employment. According to ImmD guidelines, during the 24-month stay period, the holder can freely change employers. When applying for an extension, they must demonstrate employment in a position commensurate with their qualifications and professional background, with a salary meeting market levels. The standard optimized by ImmD in 2024 was “monthly income not less than HKD 15,000,” while statistics show the median salary for actual approved extension cases was approximately HKD 24,500, reflecting a positive gap between policy setting and market reality.
What were the application source regions and university distribution?
Non-local graduates applying for IANG visas primarily come from Mainland China, accounting for approximately 85% in 2024/25, followed by other Asian regions (8%), Europe (4%), and North America (3%). Among Mainland Chinese applicants, about 75% graduated from Hong Kong’s eight UGC-funded universities, with HKU, CUHK, and HKUST collectively contributing over half. This is related to the higher proportion of non-local students and the disciplinary offerings at these three universities, particularly in finance, engineering, and computer science.
ImmD statistics further reveal a continuous increase in applicants from GBA Mainland cities and those graduating from Hong Kong universities’ GBA campuses (e.g., CUHK (Shenzhen), HKUST (Guangzhou)). In 2024, over 200 graduates from the first cohort of CUHK (Shenzhen) who benefited from the optimized arrangements secured employment in Hong Kong via the IANG scheme, primarily in technology and finance. The dedicated “GBA Campus Graduate” channel at ImmD processes applications with efficiency comparable to local ones, with an average processing time of 5 working days.
Furthermore, IANG applications from Southeast and South Asia showed an upward trend, increasing by 22% year-on-year in 2024/25. These graduates often studied hospitality management, engineering, and social sciences, with employers concentrated in the hotel and tourism, construction, and social services sectors. UGC’s internationalization strategy specifically mentions that an increased retention rate of non-local graduates in Hong Kong helps enrich the city’s talent diversity and facilitates connections between professional services and businesses along the “Belt and Road” initiative.
What are the policy trends and outlook?
Facing global talent competition, the Hong Kong SAR government has refined and optimized the IANG arrangements in several policy documents in 2024 and 2025. In addition to the aforementioned improvements in processing efficiency, ImmD removed the initial quota limit for extension of stay applications for IANG holders starting January 2025. Eligible individuals who have ordinarily resided in Hong Kong for a continuous period of seven years can still apply for verification of the right of abode. The 2025-26 Budget proposed additional funding to strengthen case management by the “Talent Services Office,” with a target to further reduce processing time from 5 working days to 3 working days.
In terms of industry direction, the Office for Attracting Strategic Enterprises (OASES) actively connects approved IANG holders with strategic enterprises, particularly in life and health technology, artificial intelligence and data science, advanced manufacturing, and new energy. In 2024/25, over 60% of IANG holders who successfully secured employment through this matching program entered these four strategic sectors, with an average starting monthly salary of HKD 27,000.
The University Grants Committee also announced its triennial plan for 2025-28 in late 2024, recommending an increase in non-local undergraduate places to 20% and the addition of more industry-aligned master’s programs to further strengthen the linkage between local talent supply and the IANG visa. The Hong Kong Examinations and Assessment Authority (HKEAA) simplified the certification process for applicants with non-local qualifications in the 2025 Diploma of Secondary Education (DSE) arrangements, indirectly facilitating the pathway for pre-university students from the Guangdong-Hong Kong-Macao Greater Bay Area to study in Hong Kong, thereby continuously injecting new sources into the future IANG pool.
FAQ
1. How soon after graduation must I submit my first IANG application?
Non-local graduates must submit their application within six months of their graduation date (the date on the graduation certificate) to be classified as a “fresh non-local graduate.” If more than six months have passed since graduation, you can still apply, but you must have secured a job offer from a Hong Kong employer at the time of submission, falling under the “returning non-local graduate” category.
2. Can IANG visa holders start a business or be self-employed in Hong Kong?
Yes. ImmD allows holders to work on a self-employed basis. When applying for an extension of stay, you must provide company registration documents, business transaction records, and proof of economic contribution to demonstrate that the business is genuinely operating and can support your livelihood.
3. Can I appeal a rejected application? What is the success rate?
After a rejection, you can legally request a reconsideration from the Director of Immigration or appeal to the Administrative Appeals Board. Statistics for 2024/25 show that approximately 15% of cases rejected due to insufficient substantive conditions were re-approved after submitting sufficient supplementary documents.
4. Can I enroll in a full-time study program in Hong Kong while holding an IANG visa without changing my visa?
Yes. IANG visa holders are permitted to work and study in Hong Kong without needing to apply for a student visa. However, if your visa expires before you graduate, you must apply for an extension before your stay period ends, and you may need to switch to a student visa or another appropriate immigration category.
5. What specific document requirements should GBA campus graduates note when applying for IANG?
Graduates from Hong Kong universities’ GBA campuses outside Hong Kong must submit a graduation certificate issued by the eligible institution and an application form verified by the dedicated ImmD team stationed at the campus. The requirements are essentially the same as for local graduates, but it is emphasized that graduation matters at Mainland campuses must be handled through the coordination mechanism between the institution and ImmD to ensure smooth processing.
6. Finance and tech account for over 60% of IANG employment. Does this mean graduates from other majors find it harder to stay in Hong Kong?
Not necessarily. Sectors like professional services, education, healthcare, and construction have stable demand, though their overall absorption capacity is smaller than the top two. The IANG visa has no industry restrictions. As long as you are employed in a position commensurate with your qualifications and the salary meets the required level, graduates from all disciplines are eligible for approval. In recent years, social services and the creative industries have also emerged as new absorption directions.
7. How do I prove “ordinary residence” when applying for an extension of stay?
Ordinary residence does not require you to never leave Hong Kong. ImmD will consider factors such as having a fixed abode in Hong Kong, whether your main family members are in Hong Kong, the center of your work and business, utility bills, and tax returns. Generally, being away from Hong Kong for no more than 180 days in a year and being able to provide reasonable explanations (e.g., business trips, short-term overseas training) will not usually affect your extension application.
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