The Capital Investment Entrant Scheme (CIES)

The Hong Kong SAR government has introduced the Capital Investment Entrant Scheme, allowing eligible individuals to immigrate to Hong Kong through financial asset investments. By investing HKD 30 million or more, investors can obtain residency. After meeting investment management requirements and residing in Hong Kong for seven continuous years, investors and their family members can apply for permanent residency. The scheme aims to enrich the talent pool and attract new capital to Hong Kong, enhancing the development of asset management, finance, and related professional services.

  • Eligible Applicants
  • Eligibility Criteria
  • Categories of Permissible Investment Assets
  • Application Procedure

1. Individuals who are Chinese nationals and have obtained foreign permanent residency status

2. Taiwanese residents of Chinese descent

3. Residents of the Macao Special Administrative Region

4. Foreign nationals (excluding nationals from Afghanistan, Cuba, and North Korea)

  • Age: Must be 18 years old or above at the time of applying for a net asset review.
  • Net Assets: Must have had net assets or net capital of no less than HKD 30 million (or equivalent foreign currency) during the entire period of the two years immediately preceding the date of application for the net asset review.
  • Investment in Permissible Assets: Must invest no less than HKD 30 million (or equivalent foreign currency) in permissible investment assets that are directly beneficially owned.
  • No Adverse Immigration Record: Must not have any adverse immigration records.
  • Must demonstrate the ability to support themselves and their dependents financially and provide accommodation without relying on income from permissible investment assets in Hong Kong, employment income, holding a position, or claiming public assistance.

Applicants must invest HKD 30 million or more (or equivalent foreign currency) in permitted investment assets. The investment funds must be deposited in a designated account at a qualified financial intermediary, specifically for trading permitted investment assets. Of this, HKD 27 million can be invested in the following permitted assets:

  • Stocks: Shares of companies listed on the Hong Kong Stock Exchange traded in HKD or RMB.
  • Debt Securities: Debt securities listed on the Hong Kong Stock Exchange traded in HKD or RMB;

or fixed or floating rate instruments and convertible bonds issued or fully guaranteed by:

a. The Hong Kong Special Administrative Region Government;
b. The Exchange Fund;
c. Hong Kong Mortgage Corporation Limited;
d. Hong Kong MTR Corporation Limited;
e. Hong Kong Airport Authority;
f. Other corporations, institutions, or entities fully or partially owned by the Special Administrative Region Government;
g. Hong Kong Stock Exchange-listed companies.

Certificates of Deposit: Certificates of deposit issued in HKD or RMB by recognized institutions (with a maximum of HKD 3 million) including:

A. Must be purchased with a maturity of no less than 12 months from the date of purchase and with approval in principle from the Director of Immigration;
B. Must be held by the applicant from the time of investment until the maturity of the certificate;
C. At maturity, must be converted into a certificate of deposit with a remaining maturity of no less than 12 months or other permissible investment assets.
  • Subordinated Debt: Subordinated debt issued in HKD or RMB by recognized institutions.
  • Equity Interests in Limited Partnership Funds: Ownership interests in limited partnership funds registered under the Limited Partnership Fund Ordinance (with a maximum of HKD 10 million).
  • Qualified Collective Investment Schemes: Approved unit trusts, mutual funds, real estate investment trusts, and open-ended fund companies managed by corporations or registered institutions licensed by the Securities and Futures Commission (SFC) for regulated activities; or Investment-linked insurance plans issued by designated insurers and approved by the SFC.
  • Non-Residential Real Estate Investment (with a maximum of HKD 10 million):Commercial and/or industrial non-residential properties in Hong Kong, including office buildings, commercial buildings, retail units, and factory buildings (but not including land or multi-use properties partially used for residential purposes); and excluding land with illegal or unlawful use or occupation, boats, houseboats, trailers, residential travel trailers, illegal structures, and attics.

Additionally, investors are required to allocate HKD 3 million to the "Capital Investment Entrant Scheme Investment Portfolio" established and managed by Hong Kong Investment Management Limited. This investment supports the innovation and technology sector and other key industries contributing to the long-term development of Hong Kong's economy.

  • Verification of Net Assets: Before applying for an entry visa or permit under the new scheme, the applicant must first apply to the Invest Hong Kong (InvestHK) to verify compliance with the net asset requirements of the scheme. After verification, a verification certificate will be issued to the applicant.
  • Application for Entry Visa/Permit: The applicant must apply for an entry visa or permit with the Immigration Department within the validity period of the verification certificate. Upon approval in principle, the applicant will be issued a visa/permit to enter Hong Kong as a visitor for a stay of up to 180 days to make the committed investment.
  • Completion of Investment: Once the applicant has completed the committed investment according to the scheme's rules, they must apply to InvestHK for verification. If the investment is confirmed to meet the requirements, a compliance verification certificate will be issued.
  • Submission to Immigration Department: The applicant must submit this verification certificate to the Immigration Department within the validity period. The Immigration Department will then continue processing the application for the entry visa/permit.
  • Final Approval: Upon completion of the approval process, a formal approval will be granted. The applicant and their dependents (if any) are generally allowed to stay in Hong Kong for up to 24 months, provided that the applicant continuously meets the requirements of the scheme during the entire period.