Hong Kong launches New Capital Investment Entrant Scheme to attract high-net-worth individuals

Photo shows the Director-General of Investment Promotion, Ms Alpha Lau (centre); Associate Director-General of Investment Promotion Mr Charles Ng (left); and the Chief Executive Officer (New Capital Investment Entrant Scheme Office), Mr Joseph Yu (right) at the office.

1st March 2024 – (Hong Kong) The eagerly anticipated Capital Investment Entrant Scheme (the Scheme) is now open for applications, marking a significant milestone in Hong Kong’s bid to attract high-net-worth individuals from around the world. Under this scheme, eligible applicants are required to invest a minimum of HK$30 million in permissible investment assets.

Successful applicants will have the opportunity to bring their dependents, including their spouse and unmarried dependent children under the age of 18, to Hong Kong. Initially, permission to stay will be granted for a period of two years. However, upon the expiration of this initial period, applicants will have the option to apply for a three-year extension and may subsequently apply for further extensions of three years each. Upon completing a continuous ordinary residence in Hong Kong of no less than seven years, they may even apply for Hong Kong permanent residency in accordance with the law.

The assessment of financial requirements under the Scheme will be carried out by Invest Hong Kong, while the Immigration Department will be responsible for assessing visa/entry permit applications and extension of stay requests. Interested parties can find detailed information on the Scheme’s official website (www.newcies.gov.hk/en/index.html).

Mr. Christopher Hui, the Secretary for Financial Services and the Treasury, expressed his enthusiasm for the Scheme, stating, “Since the announcement of the Scheme details in December 2023, we have conducted numerous briefing sessions for financial intermediaries, members of the Network of Family Office Service Providers, and international business associations. The response has been overwhelming, with high-net-worth individuals from the Middle East, Southeast Asia, and beyond expressing significant interest. The early launch of the Scheme reflects the government’s commitment to bolstering asset and wealth management businesses, financial services, and related professional services while promoting Hong Kong’s high-quality development.”

Ms. Alpha Lau, the Director-General of Investment Promotion, emphasized that the Scheme would solidify Hong Kong’s position as a global hub for talent and capital, further elevating its status as an international financial center. She further stated, “As the government continues to introduce measures to enhance Hong Kong’s competitiveness as an asset and wealth management hub, the Scheme’s attractiveness will only grow. We are dedicated to promoting the Scheme to various business associations, international stakeholders, and family offices. Moreover, we are committed to collaborating closely with service providers and potential applicants to address any inquiries and ensure clarity.”