In our Spotlight on APAC series we round up the latest immigration developments from across the region. In this post we focus on the newly implemented Capital Investment Entrant Scheme in Hong Kong.
On 1 March 2024 the Hong Kong Government unveiled a new version of the former Capital Investment Entrant Scheme (CIES). The scheme is being implemented separately to the former scheme that was suspended in 2023. This scheme operates under new rules and applicant should ensure that they research and follow the new set of rules/policy for the scheme.
It should be noted that the new scheme does not extend to nationals of Afghanistan, Cuba and Democratic People’s Republic of Korea.
The New CIES seeks to further enrich the talent pool and attract more new capital to Hong Kong. This will strengthen the development of Hong Kong’s asset and wealth management business, financial services and related professional services.
Eligibility for the new CIES
Subject to the terms of the New Scheme Rules, an Applicant who satisfies the following criteria will be eligible for applying for admission into Hong Kong for residence under the New CIES:
- Age – aged 18 or above at the time of applying for net asset assessment to Invest Hong Kong (hereafter “InvestHK”);
- Scope of the Scheme –
(i) foreign nationals (exclusions apply);
(ii) Chinese nationals who have obtained permanent resident status in a foreign country;
(iii) Macao Special Administrative Region residents; or
(iv) Chinese residents of Taiwan; - Net assets – applies for net asset assessment to InvestHK, i.e. demonstrating that he/she has net assets or net equity to which he/she is absolutely beneficially entitled with a market value of not less than HK$30 million Net (or equivalent in foreign currencies) throughout the two years preceding the date he/she lodged the application for net asset assessment;
- Investment in permissible investment assets – makes investment of not less than HK$30 million Net (or equivalent in foreign currencies) in the permissible investment assets to which he/ she is absolutely beneficially entitled;
- No adverse record – demonstrates that he/she has no adverse immigration record and meets normal immigration and security requirements; and
- Others – demonstrates to the Director of Immigration that he/she is capable of supporting and accommodating himself/herself and his/her dependants, if any, on his/her own without relying on any return on the Permissible investment assets, employment, self-employment, office, business or public assistance in or carried on in Hong Kong as the case may be. In addition, the entry of dependants will be subject to any other policy applicable to such entry at the time.
It should be noted that there are specific guidelines around permissible investments and the requirements for maintaining the level of investment/the rules of maintenance of portfolio investment set out in the scheme rules.
Dependant family
Under the Scheme rules dependant family members may be eligible to join the main applicant in Hong Kong including spouses and the same-sex spouses of civil unions and same-sex marriages.
If you would like more information on the scheme, liaising with HKInvest or entry to Hong Kong in any other visa category please contact [email protected] and [email protected]
