Hong Kong's Capital Investment Entrant Scheme (CIES) Receives 500 Applicants Since Relaunch

Six months after its relaunch, Hong Kong's Capital Investment Entrant Scheme (CIES) has received 500 applications, signaling strong interest from investors seeking residency in the city.

How does CIES Influence Hong Kong's Economy?

The government reports that 47 applicants have already met the scheme's investment requirements by committing at least HK$30 million each to investments within Hong Kong. These applicants are currently awaiting visa approval from the Immigration Department.

Collectively, the 47 verified investments represent a potential influx of HK$15 billion(approximately US$1.9 billion) into the local economy. InvestHK has noted a high level of engagement with the program, having received over 5,000 inquiries during its first six months.

Out of the total applicants, 448 individuals have successfully demonstrated that they possess net assets of at least HK$30 million over the two years preceding their application, fulfilling a key eligibility criterion of the scheme.

The relatively modest number of applicants who have completed their investments thus far is attributed to the program's structure, which allows up to 180 days for applicants to finalise their investments after receiving initial approval. Many applicants are using this period to carefully consider and select from the various eligible investment options available under the scheme.

Will Hong Kong's Capital Investment Entrant Scheme Attract More Applicants?

Historical trends suggest significant potential for the program's growth. Between 2011 and 2015, nearly 20,000 individuals applied under the previous iteration of the CIES.

The current pace indicates that the revived scheme may continue to attract a substantial number of high-net-worth individuals in the coming years.

There has been speculation regarding the nationalities of the applicants. Earlier reports indicated that many were residents of countries such as Vanuatu and Guinea-Bissau.

Experts suggest that some of these applicants may actually be mainland Chinese nationals who have acquired permanent residency in these countries to become eligible for the CIES, as Chinese nationals without foreign residency are otherwise ineligible to apply. Authorities have not provided updated information on the applicants' origins since those initial reports.

The CIES is designed to attract affluent individuals by requiring a significant investment into Hong Kong's economy.

Eligibility Criteria For Hong Kong's Capital Investment Entrant Scheme

Applicants must invest a minimum of HK$30 million (approximately US$3.85 million) in permissible assets, which include non-residential real estate and financial products. Of this total investment, at least HK$27 million must be allocated to financial assets, while a minimum of HK$3 million is directed into a CIES investment portfolio managed by the Hong Kong Investment Corporation, aimed at supporting the innovation and technology sectors.

Eligible applicants include foreign nationals (with certain exceptions), Chinese nationals holding permanent residency or citizenship abroad, residents of Macau SAR, and Chinese residents of Taiwan.

Successful participants in the program receive a two-year visa and have the opportunity to apply for permanent residency after maintaining seven years of continuous residence in Hong Kong.

The revival of the CIES comes as Hong Kong faces increasing competition from other regional financial centers, such as Singapore, which actively seeks to attract wealthy individuals and businesses through initiatives like the EntrePass. The success of the CIES could play a pivotal role in reinforcing Hong Kong's position as a leading global financial and talent hub.