“New Capital Investment Entrant Scheme” Now Opens for Application
The Government of the Hong Kong SAR launched the CIES Program on 1 March 2024 and open for application. CIES is a program which offers eligible individuals, aged 18 or above who has no adverse immigration record, the opportunity to migrate to Hong Kong by making a minimum investment of HKD30,000,000 in Permissible Investment Assets which has been in possession throughout the two years preceding the application.
New Capital Investment Entrant Scheme
The New Capital Investment Entrant Scheme (the Scheme) aims to attract asset owners to settle in the city and explore its diverse investment opportunities through wealth allocation and management. The New Capital Investment Entrant Scheme Office (“New CIES Office”) under Invest Hong Kong is responsible for assessing the financial assets and investment of the Scheme Applicants/Entrants as well as monitoring their continuous compliance of the Investment Requirements and Portfolio Maintenance Requirements, while Immigration Department is responsible for assessing applications for visa/entry permit, extension of stay and unconditional stay pursuant to the Scheme.
Permissible Investment Asset Classes
| Stock | Equities listed on the SEHK; |
| Bond | 1. Debt securities listed on the SEHK that are denominated in HKD or RMB and traded. 2. Debt securities denominated in HKD or RMB, including interest-bearing or floating rate instruments and convertible bonds issued or fully guaranteed by the following institutions:
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| Deposit | Certificate of Deposit issued by authorized institutions (mainly banks) • Deposit must be purchased no less than 12 months from its maturity date • The date of purchase must be after the Immigration Department issues an “Approval-in-Principles” to suitable applicants • When the certificate of deposit expires, it should be exchanged for a certificate of deposit or other permitted investment asset class assets that are not less than 12 months from the maturity date • Maximum investment amount: HKD 3 million |
| Subordinated Debt | Denominated in HKD or RMB, issued by an authorized institution |
| Qualifying Collective Investment Scheme | Collective investment schemes published and updated on the SFC’s website, including some ETFs and unlisted funds |
| Non-Residential Properties | The upper limit is HK$10 million, including office buildings, commercial buildings, retail units and factory buildings, but excluding land and some mixed-use properties used for residential purposes. |
| Limited Partnership Fund | Ownership interests in Private Limited Partnership Funds and Open-Ended Fund Companies regulated by the SFC, with a total investment limit of HKD 10 million |
| CIES Investment portfolio | HKD 3 million |
Eligibility Criteria
To qualify for the New CIES, applicants must meet certain eligibility criteria, including:
- Nationality
Foreign nationals with nationals of Afghanistan, Cuba and Democratic People’s Republic of Korea are excluded; Chinese nationals who have obtained permanent resident status in a foreign country; Macao SAR residents; and Chinese residents of Taiwan. - Minimum Net Asset
Applicants must have a minimum net worth of HKD 30 million (or equivalent in foreign currencies) throughout the two years preceding the dates he lodged the application for Net Asset Assessment of the Scheme. - Minimum Investment Requirement
Applicants are required to make a qualifying investment of at least HKD 30 million in permissible investment assets, such as stocks, bonds, or non-residential estate. Separately, each applicant is required to place HKD 3 million into a new CIES IP which will be setup and managed by the Hong Kong Investment Corporation Limited. All investment must be made within 180 days after entering Hong Kong with the entry permit. - Clean Background
Applicants should have no criminal record and no adverse immigration record in Hong Kong.
Dependent status
– Applicants can bring their spouse, same-sex or opposite-sex partner and unmarried dependent children under 18 years old
Entry and stay restrictions
– Immigration Department will grant the applicant a visa/entry permit to enter Hong Kong as a visitor for a maximum of 180 days to make the committed investment.
Permission to stay is typically granted for up to 24 months, subject to the condition that the applicant continues to meet the requirements under the new CIES throughout this period. After the 24-month period, the applicant and their dependents can apply for an extension of stay for up to three years. Subsequently, they can apply for further stay extensions for up to three years each, if they continue to meet the requirements under the new CIES.
After a continuous ordinary residence in Hong Kong of at least seven years, the applicant and their dependents can apply for Hong Kong permanent residency.
For details of the scheme, please visit the Invest Hong Kong’s website：www.newcies.gov.hk/zh-hk/index.html
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