The New Capital Investment Entrant Scheme
- a22162
- Dec 8, 2024
- 4 min read
Updated: Apr 20
Hong Kong's New CIES Explained
The New Capital Investment Entrant Scheme
The New Capital Investment Entrant Scheme (New CIES) was relaunched by the Hong Kong Special Administrative Region (HKSAR) Government on March 1, 2024. This scheme aims to attract high-net-worth individuals to reside in Hong Kong by making significant capital investments. It allows eligible individuals to apply for entry and potential permanent residency after seven years.
Eligibility Criteria:
To be eligible for the New CIES, applicants must:
Be aged 18 or above.
Possess net assets of at least HKD 30 million throughout the two years preceding the application.
Make a capital investment of HKD 30 million or above in permissible investment assets in Hong Kong. This investment must be made within six months before the application or after receiving Approval-in-Principle.
Have a clean immigration record and meet normal immigration and security requirements.
Demonstrate the ability to support themselves and their dependents without relying on the investment returns, employment, or public assistance in Hong Kong.
Be one of the following:
Foreign nationals.
Chinese nationals who have obtained permanent resident status in a foreign country.
Macao Special Administrative Region residents.
Chinese residents of Taiwan.
Permissible Investment Assets:
Applicants must invest and maintain an investment of at least HKD 30 million in one or a combination of the following permissible investment assets:
Equities: Shares of companies listed on the Stock Exchange of Hong Kong and traded in Hong Kong Dollars or Renminbi.
Debt Securities: Debt instruments denominated in Hong Kong Dollars or Renminbi issued or guaranteed by the HKSAR Government, Exchange Fund, specified corporations, or other entities listed as permissible by the scheme.
Certificates of Deposit: Denominated in Hong Kong Dollars or Renminbi, issued by authorized institutions with a remaining term to maturity of not less than 12 months at the time of acquisition, subject to a cap of HKD 3 million (10% of the minimum investment threshold).
Subordinated Debt: Denominated in Hong Kong Dollars or Renminbi, issued by authorized institutions.
Eligible Collective Investment Schemes: These include SFC-authorized unit trusts, mutual funds, and investment-linked assurance schemes. The total investment in this category is subject to an aggregate cap of HKD 10 million.
New CIES Investment Portfolio: Applicants are required to invest HKD 3 million in a portfolio managed by the Hong Kong Investment Corporation Limited (HKIC). This portfolio will invest in companies and projects with a Hong Kong nexus, supporting innovation, technology, and other strategic industries beneficial to Hong Kong's long-term economic development.
Non-residential Real Estate: Investment in non-residential real estate is permissible, with the total investment in this category subject to a cap of HKD 10 million.
Application Process:
Net Asset Assessment: Applicants may need to appoint a Certified Public Accountant (practicing) to demonstrate that they meet the net asset requirement of HKD 30 million for the two years preceding the application.
Visa Application: Once the net asset requirement is met, applicants can submit a visa application to the Immigration Department.
Approval-in-Principle: If the application is successful initially, the applicant will receive an Approval-in-Principle.
Investment: The applicant must then make the committed investment in the permissible assets.
Formal Approval: After providing proof of the investment, the applicant may be granted formal approval with a limited stay, typically for not more than 24 months.
Extension of Stay: Extensions of stay, usually for not more than three years at a time, may be granted if the applicant continues to meet the scheme's requirements.
Permanent Residence: After continuously residing in Hong Kong for not less than seven years and meeting other requirements, applicants and their dependents may apply for the right of abode in Hong Kong.
Dependents:
The spouse or partner and unmarried dependent children under the age of 18 of the principal applicant are eligible to apply for entry under the New CIES.
Important Points:
The Hong Kong Immigration Department and Invest Hong Kong jointly administer the New CIES.
Applicants need to maintain their investment throughout their stay under the scheme.
Cash dividends and interest income from the permissible financial assets can be retained by the investor.
There is no requirement to top up the investment value if it falls below HKD 30 million due to market fluctuations.
Successful applicants and their dependents will be issued an "e-Visa."
For detailed information and application forms, please refer to the official website of the New Capital Investment Entrant Scheme hosted by Invest Hong Kong.
How Bestar can Help
Here's how Bestar can provide valuable support for the New Capital Investment Entrant Scheme in Hong Kong:
Expert Guidance on Eligibility: We possess in-depth knowledge of the specific requirements and can assess your eligibility for the scheme accurately.
Application Preparation and Submission: We can guide you through the complex application process, ensuring all necessary documents are correctly prepared and submitted according to the Immigration Department's standards. This minimizes the risk of delays or rejection due to errors.
Navigating Regulations: Immigration laws and policies can be intricate and subject to change. Bestar stays updated on the latest regulations and can advise you accordingly.
Communication with Authorities: We can act as your point of contact with the Hong Kong Immigration Department, handling inquiries and providing updates on your application status.
Appeal Processes: In the unfortunate event of a rejection, we can advise on and assist with the appeal process.
Net Asset Assessment: As the scheme requires proof of net assets of at least HKD 30 million for the two years preceding the application, Bestar prepares the necessary financial reports and certifications to demonstrate this requirement.
Financial Documentation: We can help gather and organize the required financial documents in a format acceptable to the authorities.
In summary, engaging Bestar can significantly streamline the application process, ensure compliance with the complex regulations, and maximize your chances of a successful outcome under the New Capital Investment Entrant Scheme. Our expertise can save you time, reduce the risk of errors, and provide peace of mind throughout the journey.
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