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Hong Kong BN(O) visa: UK government to honour historic commitment
Reuters new (14/1/2021)
BNO passport holders moving USD from Hong Kong to UK
Source: https://www.reuters.com/article/uk-hongkong-finance-outflows-idUSKBN29J0WM
HONG KONG (Reuters) - Hong Kong residents leaving the city to move to Britain could trigger capital outflows of HK$280 billion (US$36 billion) this year from the Asian financial centre, a new report published by Bank of America (BofA) said.
—Emigration could be as high as 321,600 residents in the next five years starting in January last year, the British Home Office study estimated.
—The number of emigrants is expected to fall over the next four years, the Home Office study said. As a result, BofAforecast that the impact on the Hong Kong dollar from the departing population would be reduced.
—In total, over five years, BofAsaid the capital outflow from Hong Kong could reach HK$588 billion (US$75.8 billion).