Behind the curtain: Another mass migration wave will emerge in July

Published (HKT): 2021.04.10 10:12

In recent days cases of emigrants from Hong Kong have been reported widely by a lot of media outlets. Your author knows quite a number of professionals who said their Facebook interfaces are abundant in posts which are preliminary announcements of emigrations. A professional specializing in emigration business said it is not the peak yet now, and anticipated that another mass migration wave would emerge in July and August. “This time, emigrants are mainly well-off middle-class property owners getting ready to tie in with their plans to send their offspring to study overseas in September.” Many among them are returning emigrants after ’97 who were issued with a foreign passport in those years. “They didn’t sell all their properties when they left back then, but they will sell everything they have this time, as there’s no turning back.”

No turning back to HK

The Mandatory Provident Fund Schemes Authority has recently made public that there were 8,100 applications in the third quarter of last year for withdrawal of MPF for the reason of “leaving Hong Kong permanently”, each person drawing out around $210.3 thousand on average. A professional analysed that judging by the amount of money withdrawn, most of them are young people, which tallies with what people have anticipated: people with less consideration for family matters will set about emigrating first. Yet, he said the next mass migration wave will comprise middle-class families. Take his friends and working partners as examples. “Seven or eight out of ten of them have planned to set off either in July or August, because their children have already been accepted by schools in Britain, Canada or Australia, and they have to make sure they arrive in time for the new school term in early September.” He chuckled and said that “at the speed of having two in a week, the farewell dinners are lining up till July”.

Another professional engaging in handling legal documents for emigrants said in recent days he has been helping people who are going to emigrate with documents concerning accreditation or asset transfer. “I’m fully occupied every day.” A lot of his clients were returning emigrants after ’97 who were issued with a foreign passport in those years. They have determined to leave with their whole family again. He said when they emigrated before ’97, they did not sell all their assets. “This time, a lot of people have determined to sell all their properties or even companies in Hong Kong at one go, which shows that they do not consider the possibility of coming back to Hong Kong.” Most of them are professionals and even enterprise proprietors. “The government insists there is no mass migration wave, and Hong Kong will not be impacted. I think this year is critical for the mass migration wave will start this year.”

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