Positive response to Hong Kong Capital investment Entrant scheme

The recently launched Capital Investment Entrant Scheme has received positive response since its introduction last month, with Invest Hong Kong recording over 10 applications and more than 1,600 inquiries.

Designed to attract asset owners to invest and settle in the SAR, the scheme was initiated in March by InvestHK, the government department responsible for facilitating direct investment.

According to a statement by the department yesterday, the significant number of applications and inquiries indicates the confidence that high-net-worth individuals from various countries have in Hong Kong.

Among the inquiries, 70 percent originated from professional service providers seeking information about application procedures, eligibility criteria, and permissible investment assets.

Alpha Lau Hai-suen, the director-general at InvestHK, expressed delight in the enthusiasm over the scheme.

"This demonstrates the strong confidence that high-net-worth individuals have in Hong Kong's stable business environment and the diverse investment opportunities it offers," Lau said.

Additionally, Lau affirmed the administration's commitment to improvising the scheme in order to attract more high-net-worth investors and enhance Hong Kong's competitiveness as an asset and wealth management hub. "The department will actively promote the scheme to various business associations, international stakeholders, family offices,and professional service providers to address inquiries and ensure clarity," she said.

This proactive approach aims to facilitate a smooth and transparent process for interested parties.

Eligible applicants who invest at least HK$30 million in permissible investment assets can settle in Hong Kong with their dependents, including spouses and unmarried children under 18.

Successful applicants will be granted a two-year stay permit in Hong Kong, with the possibility of applying for extensions of stay for an additional three years after the initial period expires. Furthermore, applicants can potentially become Hong Kong permanent residents after maintaining continuous ordinary residence in the city for a period of seven years or longer.

ayra.wang@singtaonewscorp.com