Hong Kong has relaunched its investment-based residence scheme known as the New Capital Investment Entrant Scheme (New CIES). This program is aimed at high net worth individuals who wish to invest in Hong Kong, obtain residence rights, and potentially become permanent residents after a qualifying period. It revives (and replaces) the former Capital Investment Entrant Scheme which was suspended in 2015. The scheme is designed for investors, foreign nationals, overseas Chinese with permanent residence abroad, and residents of Macau or Taiwan under certain conditions.
Here are the main eligibility criteria and conditions for the New CIES (as of the latest updates):
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Requirement |
Details |
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Age
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Must be at least 18 years old.
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Clean record
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No adverse immigration or criminal record. Proper documentation required.
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Net Assets / Financial
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Must have net assets with a market value of at least HK$30 million. As of 1 March 2025, the period for demonstrating net assets (Net Asset Requirement, or NAR) has been optimized to six months preceding the application (changed from two years).
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Investment
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Must invest a minimum of HK$30 million into “permissible investment assets.” The investment must include financial assets, non‐residential real estate, and/or permissible instruments. There is also a requirement to place part of the investment into a “CIES Investment Portfolio.”
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Path to |
After seven years of continuous ordinary residence in Hong Kong under the relevant legal conditions, an applicant (and dependents) may apply for Hong Kong permanent resident status. |
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Dependents allowed |
Spouse and unmarried dependent children under 18 may be included. |
Access to one of Asia’s major financial hubs, with strong legal protections, international business networks, and strategic proximity to Mainland China.
Stable regulatory, financial, and investment infrastructure.
Ability to bring family (spouse, dependents) under the same status.
Potential to obtain permanent residence after seven years, with greater rights similar to locals (e.g. certain social benefits, residency card, etc.).
Favorable tax regime in many cases; Hong Kong generally has simple and relatively low taxes compared to many Western countries.
Flexibility: no fixed requirement of living every day in Hong Kong (though “ordinary residence” for the 7 years is required eventually).
The opportunity to invest in multiple asset types (financial, real estate, private vehicles/family office), giving flexibility in structuring investments.
Ms. Chen, a businessperson from Malaysia, has net assets of HK$30 million (including jointly owned assets with her spouse). She invests HK$30 million into permissible assets: HK$27 million in a mix of financial assets and non-residential properties, and places HK$3 million into a designated CIES Investment Portfolio managed by an eligible financial intermediary. She includes her spouse and two dependent children under 18. Her initial permit is granted for two years. After two years, she applies for extension (three years), then another three-year extension. After living in Hong Kong continuously (i.e. maintaining the residence status, visiting as required, fulfilling obligations) for seven years, she becomes eligible to apply for permanent residence. Over this period she also benefited from Hong Kong’s tax regime, school opportunities for children, and access to Hong Kong’s financial / business environment.
Yes. The New CIES opened on 1 March 2024.
Yes, HK$30 million in permissible investment assets is required.
Yes — non-residential real estate is permissible; residential real estate may count under certain conditions (e.g. price thresholds, caps on how much of the total investment can come from real estate).
Spouse and unmarried dependent children under 18 are allowed.
After seven years of continuous ordinary residence under the scheme, provided other conditions are met.
Some exclusions apply: nationals from certain countries may be excluded. Also, certain applicants must hold overseas permanent residency (if Chinese nationals) or satisfy status requirements.
If you sell real estate, you may still remain qualified if the net proceeds are reinvested into other permissible investment assets.