Investing HK$30 million to get Hong Kong Citizenship? What is the new Capital Investment Entrant Scheme? Any Advantages?
The Under Secretary for Financial Services and the Treasury, Mrs. Elizabeth Chan, was the guest of honor at the Lipper Fund Hong Kong Awards 2024 on Friday (10th). In his speech, he said that in order to attract more new capital and drive the development of the financial services industry, the Hong Kong government formally launched the new Capital Investment Entrant Scheme (CIES) in March, which has been very well-received by the market. As of early May, it has already received more than 2,500 inquiries and more than 140 applications, and 33 applications have been approved so far.
The scheme requires an investment of more than HK$30 million in specified areas to obtain Hong Kong permanent residency, including Hong Kong insurance. In response to this scheme, people may have questions: What are the requirements for citizenship by investment? What are the areas in which investments can be made? What are the benefits of applying to an individual? Today we will organize the relevant information in detail, focusing on the threshold and details of investment immigration, the latest list of investment-linked insurance products, and the unique advantages that investment immigration has.
What is the new CIES in Hong Kong?
The new scheme aims to attract more talent and more new capital to Hong Kong, which will enhance Hong Kong’s wealth management, financial, and related professional services sectors.
Eligibility Criteria of CIES
Age: 18 or above
Scope of Scheme:
- Foreign nationals
- Chinese nationals who have obtained permanent residency of a foreign country
- Chinese residents of Maocao or Taiwan
- No adverse record
Available Areas for Investment
The CIES requires HK$27 million to be invested in permissible financial assets and non-residential real estate. Additionally, applicants are required to invest HK$ 3 million into a new CIES Investment Portfolio.
Authorized Investment Assets
The assets to be invested must be those approved under the new scheme. Out of the HK$30 million net assets, you are required to invest HK$3 million in the Capital Investment Entrant Scheme (CIES) Portfolio established and managed by Hong Kong Investment Management Limited. The remaining HK$27 million is required to be invested in the following permissible investment assets, including:
A. Financial assets
B. Non-residential real estate
Non-residential real estate (including uncompleted flats) in Hong Kong for commercial and/or industrial purposes where the amount invested is capped at HK$10 million.
C. Family Office
In addition to assisting applicants to invest in Hong Kong, the new program also helps you set up a family office in Hong Kong. In addition to the above investment benefits, family offices also enjoy many policy support, such as tax relief and the establishment of a comprehensive talent training platform.
More importantly, under the new scheme, applicants are allowed to bring their dependents, including spouses and unmarried dependent children under the age of 18, to reside in Hong Kong. If the applicant has ordinarily resided in Hong Kong for a continuous period to meet the requirement under the Immigration Ordinance, he/she can apply to become a Hong Kong permanent resident.
Once your application for Hong Kong Permanent Resident is approved, you are free to allocate your assets as you wish and are no longer subject to the restrictions of the new scheme. As you can see, an early and effective asset allocation arrangement will enable you to reap fruitful results in Hong Kong.
Advantages of Capital Investment Entrant Scheme
Maybe you are so confused: “Why don’t I choose Category A of the Top Talent Pass Scheme directly to apply for Hong Kong Citizenship when I have HK$30 million assets? “ This is a good question, Let us see the unique advantages of CIES.
📌There is no requirement for academic qualifications; the renewal of the visa is more flexible;
📌It is not mandatory to work and live in Hong Kong, there is no obvious restriction on the renewal of the visa, and you can even get an unconditional stay visa;
📌The investment can be recovered, you only need to maintain the investment status until the expiration of the 7-year period, and there are various kinds of investment, which can be managed by yourself. You can sponsor your spouse and children who are under 18 years old in Hong Kong, where they can access high-level education, good healthcare, low taxes, and other social benefits.
Finovy Consulting thinks that for high-net-worth individuals with investment experience, new CIES not only obtains the identity but also create more opportunities to earn money, realizing the goal of killing two birds with one stone.
The launch of Hong Kong Citizenship by Investment provides an alternative path for HNWIs who intend to invest in Hong Kong and obtain permanent resident status. Through an in-depth understanding of the threshold, insurance, and unique advantages of investment immigration, individuals can make informed decisions based on their needs and circumstances to realize the best investment and identity planning results.
Kindly contact us to learn more if you are interested.
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🌐Visit: consulting.finovy.com
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