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Macao government to start annual cash handouts in July

Permanent residents are set to receive 10,000 patacas, whereas non-permanent residents will receive 6,000 patacas.

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UPDATED: 11 May 2024, 9:35 pm

The government is set to make its annual cash handout to 748,000 residents starting in July as part of its Wealth Partaking Scheme 2024, the Executive Council announced yesterday. 

Over 7 billion patacas have been allocated to the program, which will see roughly 717,000 permanent residents receive 10,000 patacas and 31,000 non-residents receive 6,000 patacas.

According to a distribution timetable published by the council, payments will be made either as a bank transfer or as a cheque over the course of roughly five weeks between 2 and 31 of July. 

The funds will be first distributed to priority groups, including residents receiving senior pensions, disability payments, social welfare, teaching subsidies, or tertiary financial assistance, as well as individuals classified as retired civil servants.

[See more: Macao almost tops the world rich list]

The handouts will then be made to those who were born in 1975 and earlier before being handed out to beneficiaries from younger age groups. 

Meanwhile, residents living outside of Macao who have registered for the scheme will receive their payment as a mailed cheque. 

First introduced in 2008, the Wealth Partaking Scheme was intended to help protect the SAR’s economy and residents from the financial crisis that year. The programme now serves as a means for the government to distribute the substantial wealth generated from the city’s gaming taxes.

For the past six years, payments to permanent residents have remained at 10,000 patacas, while those to non-permanent residents have stayed at 6,000 patacas for the past five years.

UPDATED: 11 May 2024, 9:35 pm

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