Hong Kong Business News

The New Capital Investment Entrant Scheme has seen a good response since its launch on March 1, recording double-digit applications and over 1,600 enquiries, Invest Hong Kong (InvestHK) announced today.

InvestHK pointed out that the applications were from high-net-worth individuals of different nationalities.

Of the enquiries received, around 70% were made by professional service providers and were mainly about application procedures, eligibility criteria and permissible investment assets, it added.

Director-General of Investment Promotion Alpha Lau said that she is very delighted to see the scheme draw a good response in the first month.

“It shows strong confidence among high-net-worth individuals in the stable business environment and the diverse investment opportunities Hong Kong has to offer."

Ms Lau also noted that the Government will continue to roll out measures to further enhance Hong Kong's competitiveness as an asset and wealth management hub, hence boosting the scheme’s attractiveness.

Additionally, InvestHK will actively promote the scheme to various business associations, international stakeholders, family offices, and professional service providers, she stated.

Under the scheme, an eligible applicant must make an investment of a minimum of $30 million in the permissible investment assets.

A successful applicant may bring dependents to Hong Kong and permission to stay will normally be granted to them for two years.

Upon expiry of the two-year period, they may apply for an extension of stay for three years, and may subsequently apply for further extensions of stay for three years.

Upon a period of continuous ordinary residence in Hong Kong of not less than seven years, they may apply to become Hong Kong permanent residents in accordance with the law.

InvestHK explained that it is responsible for assessing whether the applications fulfil the financial requirements under the scheme, while the Immigration Department is responsible for assessing the applications for visa/entry permit and extension of stay, etc.

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