As a result of the imposition by China of a national security law in Hong Kong in 2020, the UK government has introduced a new visa route for Hong Kong residents with British National (Overseas) status to move to the UK. From January 2021 through June 2024, 209,406 BN(O) visas have been granted. This is one of the largest migrants flow to the UK from a single source country ever recorded. To understand who the BN(O) migrants are, and how they are faring in the UK, we are organising a panel survey of the BN(O) migrants. In this paper, we report some initial findings from wave 1 of the BN(O) Migrants Panel Survey. Our survey is designed to be comparable to Understanding Society, permitting direct comparisons between the BN(O)s and other migrant groups or minority ethnic groups in the UK. Among other things, we show that the BN(O)s are much more highly educated than the UK-born and other migrant/ethnic groups in the UK. We also report a complex picture of national/ethnic identity among the BN(O)s which might have important bearing on their long-term settlement intention. This paper provides a portrait of a large migrant group in Europe that is not quite refugees or economic migrants.