# Hong Kong launches new scheme to attract foreign investors

- Link: https://www.thailand-business-news.com/hong-kong/129583-hong-kong-launches-new-scheme-to-attract-foreign-investors
- Published: 2024-03-06T09:55:33+07:00
- Author: J. Allan

Hong Kong has introduced a new scheme to attract foreign investors who are willing
to invest long-term in the city.

The Capital Investment Entrant Scheme (CIES) aims to boost Hong Kong’s economy and
enhance its competitiveness as an international financial center.

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## Key Takeaways

 * Hong Kong’s new Capital Investment Entrant Scheme (CIES) aims to attract foreign
   investors with at least HK$30 million in permissible investment assets to enhance
   the city’s economy and competitiveness as an international financial center.
 * The CIES allows investors to apply for permanent residency in Hong Kong by composing
   the HK$30 million into permissible financial assets, non-residential real estate,
   and a new CIES Investment Portfolio, with the opportunity to bring their dependents
   to stay in Hong Kong.
 * The scheme reflects the government’s commitment to strengthening asset and wealth
   management business, financial services, and related professional services, and
   is expected to attract high-net-worth individuals seeking a stable and secure
   environment for investment and living in Hong Kong.

The CIES allows foreign nationals with at least HK$30 million in permissible investment
assets to apply for permanent residency in Hong Kong. The permissible assets include
equities, debt securities, certificates of deposits, subordinated debts, and eligible
collective investment schemes.

The HK$30 million will be composed into a minimum of HK$27 million in permissible
financial assets and non-residential real estate and HK$3 million into a new CIES
Investment Portfolio.

The CIES will allow investors to bring their dependents (spouses and unmarried dependent
children under 18).

Applicants will have to demonstrate to the Director of Immigration (Dol) that they
are capable of supporting themselves and their family’s accommodation and expenses
without relying on any return on the Permissible investment assets, employment, 
self-employment, office, and business.

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HK will grant initial permission for the investors’ families to stay for two years;
after expiration, the dependents can apply for an extension of 3 years. After a 
minimum period of 7 years, they can apply to become Hong Kong permanent residents.

Christopher Hui, Secretary for Financial Services and the Treasury, stated that 
the early launch of the new process shows the Government’s commitment to strengthening
the development of asset and wealth management business, financial services, and
related professional services, as well as driving high-quality development in Hong
Kong.

The CIES is expected to attract high-net-worth individuals looking for a stable 
and secure environment to invest and live in. The CIES will start accepting applications
from April 1, 2024.