Global financial scheme re-introduced in Hong Kong, aimed at attracting international capital and family offices.
The Capital Investment Entrant Scheme (New CIES) in Hong Kong, reintroduced on March 1st, 2024, aims to bolster capital inflows and reinforce Hong Kong's position as a leading international asset and wealth management centre.
Eligibility and Investment Requirements
High-net-worth individuals seeking residency under the New CIES must demonstrate and maintain net assets of at least HK$30 million for a continuous period before application, with the most recent reports emphasizing a 6-month continuous net asset holding period before application as the standard[2][3]. Applicants must invest a minimum of HK$30 million in permissible investment assets, showing full beneficial ownership, to qualify[1][2].
Eligible Investment Assets and Related Rules
Investment assets include equities, bonds, funds, and real estate, with real estate recently included but subject to specific limitations[1][5]. For residential real estate, only a single property investment of at least HK$50 million counts toward the requirement[1]. Non-residential properties, on the other hand, investments count toward the capital investment but are capped at HK$10 million[4][5].
Other approved investments can include financial instruments, but the application must prove ownership through verification by InvestHK[1].
Requirements and Conditions
Applicants must maintain their investment for at least 7 years before eligibility for permanent residency[3]. They must also prove they have the capacity to support themselves and dependants during their stay[1]. The scheme allows applicants to bring their spouse and unmarried dependent children under 18[2]. Residency granted under this scheme is initially for up to 24 months, renewable thereafter[1]. A clean immigration record and a minimum age of 18 years are also required[3].
Additional Notes
If an investor sets up a family office in Hong Kong and meets a higher asset threshold (HK$240 million), family members may also be eligible under this scheme[2]. The scheme is purely investment-based; it does not require applicants to establish business operations or employment in Hong Kong[1]. Upon completing 7 years of continuous residence under this scheme, applicants may apply for permanent residency[3].
Profits and Remaining Investment
Profits may not be withdrawn except for cash income such as dividends or rent. The remaining HK$27m of the investment can be allocated across eligible public market securities, private funds, and non-residential real estate[1].
The New CIES is part of the Financial Services and the Treasury Bureau's broader policy agenda to expand Hong Kong's appeal as a base for global family offices and wealth platforms[1]. Early market reception indicates strong uptake, with banks, brokers, and fund sponsors receiving inquiries from global investors interested in establishing investment structures and family offices under the New CIES[1].
- High-net-worth individuals interested in the New CIES must invest a minimum of HK$30 million in permissible investment assets, which can include equities, bonds, funds, and real estate.
- For residential real estate, only a single property investment of at least HK$50 million counts toward the investment requirement, while non-residential properties are capped at HK$10 million.
- If an investor sets up a family office in Hong Kong and meets a higher asset threshold (HK$240 million), family members may also be eligible under this scheme.
- The GP (investment management team) of the private fund may include the limited partner (LP, the investor) as a member, and the LP can invest their remaining HK$27m of the investment across eligible public market securities, private funds, and non-residential real estate.
