Under the Capital Investment Entrant Scheme (CIES), qualifying applicants are granted residence in Hong Kong if they make a capital investment of at least HKD 10million (appox. 1.28million USD) in permissible asset classes. Individuals under this visa scheme are not required to operate any business out of Hong Kong or be employed in Hong Kong although they are free to do so if desired.

Residence is granted to successful applicants for an initial two year period which can be further extended in a 2-2 year pattern upon continuing to meet the eligibility criteria. You are allowed to bring your family (spouse and unmarried dependent children under the age of 18) to Hong Kong under the Dependant Visa scheme. You are also eligible to apply for Hong Kong permanent residence after seven years.

This article serves as a guide on the eligibility criteria, application procedure and timeline, required documents required and other related information on applying for entry for residence in Hong Kong under the Capital Investment Entrant Scheme. To learn about available Hong Kong visa schemes, refer to Guide to Hong Kong Visas.

Note: This scheme does not extend to Mainland China residents due to foreign currency controls.

Who Can Apply?

The following categories of investors are eligible to apply for the Capital Investment Scheme:

• Foreign nationals (except nationals of Afghanistan, Albania, Cuba and Korea)
• Macau Special Administrative Region (Macau SAR) residents
• Chinese nationals who are permanent residents in a foreign country
• Stateless persons who are permanent residents in a foreign country with proven re-entry facilities
• Taiwan residents

In addition, the applicants must satisfy the following eligibility criteria:

• You must be 18 years of age or above at the time of making an application
• You must have minimum net assets of HKD 10million to which you are absolutely beneficially entitled throughout the two years preceding your application.
• There is no adverse record detrimental to you either in Hong Kong or your country of residence
• You must be able to demonstrate that you are capable of supporting and accommodating yourself and your dependants, if any, on your merit, without relying on any return on the permissible investment assets, employment or public assistance in Hong Kong.

Investment Requirements

You must invest a minimum of HKD 10million in either or combination of the following permissible investment asset classes:

• Equities – Hong Kong listed and Hong Kong denominated
• Debt securities – Hong Kong denominated and issued by the Hong Kong government and Hong Kong Stock Exchange listed corporates
• Certificates of deposits – Hong Kong denominated and issued by authorized institutions as defined in the Banking Ordinance with a remaining term to maturity of not less than twelve months at the time of purchase
• Subordinated debt – Hong Kong denominated and issued by authorized institutions
• Eligible Collective Investment Schemes

Additionally, you will have to adhere to the portfolio maintenance and ring-fencing requirements which ensure that you do not reduce your investment commitment during your permitted period of residence in Hong Kong, under the scheme. You are allowed to transact only in the permissible investments, as mentioned above, in the designated account opened with a single financial intermediary. The financial intermediary must be an authorized institution as defined in the Banking Ordinance or a licensed corporation licensed to perform Type 1, 4 or 9 regulated activities under the Securities and Futures Ordinance; or an insurer authorized to carry on Class C business as specified in Part 2 of the First Schedule to the Insurance Companies Ordinance.

Note the following:

• You are not required to top up the value of your investment in either asset class, should the value of your total investment under the Scheme fall below the requisite minimum level of HKD 10million.
• You are not allowed to withdraw any capital gain from your investment if its market value rises above the requisite level.
• Cash dividend income and interest income derived from permissible financial assets can be retained by you and need not be ring-fenced under the Scheme.
• You are free to switch your investments from one permissible asset class to another (from equities to debt securities or vice versa) provided that the entire proceeds from the sale of the initial assets are reinvested.
• You should keep a record of every change to your investment portfolio for the purpose of applying for extension of stay in Hong Kong.

Documents Required

• Completed Application Form in either the English version or Chinese version
• A copy of the personal particulars page of your passport
• A copy of official documents showing your Permanent Residence status in your country of domicile (if any)
• A copy of proof of financial standing of your personal net assets in the two years preceding the application like bank statements, bank reference letters, banking facilities letters etc.
• A copy of proof of your employment (if any) like employment certificate, company reference letter etc.
• A copy of proof of your business activities and transactions (if any) like letters of credit, bills of lading, shipment papers, contracts/agreements reached and realised
• A copy of proof of academic qualifications like copies of diplomas, certificates, testimonials etc.
• A copy of the contract made between you and the financial intermediary (if any)
• Supporting documents of the existing investment under the scheme (if any) like statement or reference letter from the appointed financial intermediary, purchase agreement etc.

All documents submitted must be in English or Chinese or translated into English or Chinese by a certified translation body. The Immigration authorities reserve the right to demand further documents from the applicant as and when necessary.

Application Procedure and Timeline

The completed application along with supporting documents must be submitted to Hong Kong Immigration Department by post. The application processing time is about 4-6 weeks.

If your application is approved, you will be issued an Approval-in-Principle and will be allowed to enter and reside in Hong Kong as a visitor for three months, during which you will be required to start making your investment. If you can furnish proof of active progress of your investment, the visitor status can be extended for another three months.

Once you provide evidence that the requisite level of investment has been made (i.e HKD 10million), you will be granted formal approval, upon which you are entitled to stay in Hong Kong for up to two years.

Once you have been granted formal approval you are allowed to take up employment, be an office holder, self employed, join in or establish a business in Hong Kong, without any restrictions.

Further extensions of stay that follow a 2-2 year pattern will be granted provided you satisfy the eligibility criteria and portfolio maintenance requirements as mentioned above.

Dependant Visa for Family

Applicants under this work permit scheme are eligible to bring their family members (spouse and unmarried dependent children under 18 years of age to Hong Kong) with them to Hong Kong. A dependant visa application must be filed for each family member for this purpose. The dependant’s length of stay is tied to the applicant’s length of stay in Hong Kong and dependant visa holders are free to take up employment or study in Hong Kong, as applicable. For further details on dependent visa, refer to Hong Kong Family Visa guide.

Permanent Residence

If you have been granted entry into Hong Kong under the CIES and you have resided in Hong Kong for a continuous period of at least seven years and have continued to maintain the investment requirements during this period, you are eligible to apply for Permanent Residence, commonly referred to as “Right of Abode” in Hong Kong, subject to satisfying the requisite criteria.