Global financial strategy rekindled: Hong Kong revives Capital Investment Entrant Program to court international capital and family offices
The Capital Investment Entrant Scheme (New CIES) has been reintroduced in Hong Kong, effective from 1 March 2024, aiming to attract high-net-worth individuals seeking to invest and settle in the city. The scheme requires applicants to invest a minimum of HK$30 million in eligible assets to qualify for residency and eventual unconditional stay.
### Key Details and Requirements
Applicants must first satisfy a net asset test verified by the New CIES Office before submitting an entry application to the Hong Kong Immigration Department. The New CIES Office issues a certifying proof upon successful verification.
Eligible assets include stocks, bonds, and funds regulated or approved by Hong Kong's Securities and Futures Commission (SFC), investment-linked assurance schemes, open-ended fund companies, real estate investment trusts (REITs), real estate, and specifically designed New CIES Investment Portfolios. Some funds focus on sectors like low-altitude economy, gerontechnology, smart life, culture, and technology-driven entertainment.
The application process involves verifying fulfilling net asset criteria with the New CIES Office, obtaining certifying proof, submitting an Entry Application to the Director of Immigration, receiving Approval-in-Principle, entering Hong Kong on visitor status (up to 180 days) to make the committed investment, and re-approaching the New CIES Office for verification that investment requirements are fulfilled.
Applicants and their dependents must maintain continuous ordinary residence in Hong Kong for at least seven years alongside fulfilling portfolio maintenance requirements to apply for unconditional stay. Investors must continually satisfy investment portfolio requirements for the seven-year residence period to qualify for unconditional stay.
Since re-launch in early 2024, over 1,500 applications have been received, with over 700 meeting the requirements, representing roughly HK$21 billion in investments; more than 670 applicants have been approved.
The minimum net asset threshold for the New CIES is HK$30m over two years prior to application. The remaining HK$27m under the New CIES can be invested in eligible public market securities, private funds, and non-residential real estate. The investment under the New CIES must be HK$30m into Permissible Investment Assets, which include the aforementioned categories.
The New CIES significantly focuses on attracting high-net-worth individuals to invest in diverse, SFC-regulated financial assets and strategic sectors within Hong Kong's economy, integrating strict asset verification and residency conditions to promote long-term economic contribution. No significant changes in eligible asset types or the HK$30 million threshold have been reported as of July 2025.
The scheme also emphasizes funds managed by appointed managers investing in innovation sectors. Banks, brokers, and fund sponsors are receiving inquiries from global investors interested in establishing investment structures and family offices under the New CIES. 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.
- High-net-worth individuals seeking to invest and settle in Hong Kong can apply for the Capital Investment Entrant Scheme (New CIES), where they must first satisfy a net asset test with the New CIES Office.
- Eligible assets for New CIES include stocks, bonds, funds, investment-linked assurance schemes, open-ended fund companies, real estate investment trusts, real estate, and New CIES Investment Portfolios.
- Applicants must invest a minimum of HK$30 million in these eligible assets to qualify for residency and eventual unconditional stay.
- Investors and their dependents must maintain continuous ordinary residence in Hong Kong for at least seven years while fulfilling portfolio maintenance requirements to apply for unconditional stay.
- The New CIES aims to attract high-net-worth individuals to invest in diverse financial assets and strategic sectors within Hong Kong's economy, with a focus on SFC-regulated funds managed by appointed managers investing in innovation sectors.
