Capital Investment Entrant Scheme

Objective

The objective of the Scheme is to facilitate the entry for residence by capital investment entrants (the entrant), i.e. persons who make capital investment in Hong Kong but would not be engaged in the running of any business here. The entrant is allowed to make his choice of investments amongst permissible assets without the need to establish or join in a business.

Scope of the Scheme

The Scheme is applicable to

• foreign nationals (except nationals of Afghanistan, Albania, Cuba and Democratic People's Republic of Korea);
• Macao Special Administrative Region (Macao SAR) residents;
• Chinese nationals who have obtained permanent resident status in a foreign country; stateless persons who have obtained permanent resident status in a foreign country with proven re-entry facilities; and
• Taiwan residents.

Eligibility Criteria

To qualify for admission under the Scheme, the entrant must:

• be aged 18 or above when applying for entry under the Scheme;
• have net assets of not less than HK$6.5 million to which he is absolutely beneficially entitled throughout the two years preceding his application;
• have invested within six months before submission of his application to the Immigration Department, or will invest within six months after the granting of approval in principle by the Immigration Department, not less than HK$6.5 million in permissible investment asset classes (except Certificates of Deposit which must be invested within the latter period)
• have no adverse record both in Hong Kong and country/region of residence; and
• be able to demonstrate that he is capable of supporting and accommodating himself and his dependants, if any, on his own without relying on any return on the permissible investment assets, employment or public assistance in Hong Kong

Permissible Investment Asset Classes

The entrant should invest not less than HK$6.5 million in either or both of the following two permissible investments asset classes:

(I) Real estate

The entrant may invest in commercial, industrial or residential properties, including land and pre-completion properties in Hong Kong. There is no restriction on the number of properties bought for the purpose of the Scheme.

(II) Financial assets

The entrant may invest in one or a combination of the following types of financial assets:

1. Equities - shares of companies that are listed on the Hong Kong Stock Exchange and traded in Hong Kong dollars.
2. Debt securities - denominated in Hong Kong dollars including fixed or floating rate instruments and convertible bonds which are issued or fully guaranteed by the HKSAR Government, the Exchange Fund, the Hong Kong Mortgage Corporation, MTR Corporation Limited, Kowloon-Canton Railway Corporation, Hong Kong Airport Authority and other corporations, agencies or bodies wholly or partly owned by the HKSAR Government as may be specified from time to time; or by companies referred to under (A) above.
3. Certificates of Deposits - denominated in Hong Kong dollars 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 (such purchase should take place after approval in principle has been given by the Immigration Department for the entrant to join the Scheme and that such instruments, on reaching maturity, should be replaced by Certificates of Deposits with a remaining term to maturity of not less than twelve months or by assets in other permissible investment asset classes).
4. Subordinated debt - denominated in Hong Kong dollars issued by authorized institutions under paragraphs 3(k) and 3(m) of the 3rd Schedule to the Banking Ordinance.
5. Eligible Collective Investment Schemes

Permissible Investment Asset Classes listed above are subject to change without prior notice.

Change in Value of Investment

The entrant is not required to top up the value of his investment in either asset class should the value of his total investment under the Scheme fall below the requisite minimum level of HK$6.5 million. He is also not allowed to withdraw any capital gain from his investment if its market value rises above the requisite level. Rental income from the qualifying property and cash dividend income and interest income derived from permissible financial assets can be retained by the entrant and need not be ring-fenced under the Scheme. The entrant is free to switch his investments from one permissible asset class to another (e.g. from real estate to financial assets or vice versa) provided that the entire proceeds from the sale of the initial assets are reinvested. He should keep a record of every change to his investment portfolio for the purpose of applying for extension of stay in Hong Kong.

Entry of Dependants

Entrants may be allowed to bring in their dependants (i.e. spouse and unmarried dependent children under 18 years of age) provided that the entrant is capable of supporting and accommodating his dependants on his own without relying on any return on the permissible investment assets, employment or public assistance in Hong Kong. The entry of dependants will however be subject to any other policy applicable to such entry at the time of application.

Entry Arrangements

A successful entrant, and his dependant(s) if any, will be issued with a visa / entry permit to be collected from the Immigration Department by himself or through his local reference in Hong Kong for onward transmission to him. The visa label should be affixed onto a blank visa page of the entrant's travel document for presentation to the immigration officer upon arrival in Hong Kong. If the entrant has no proper travel document acceptable for traveling to Hong Kong, an entry permit will be issued instead. The same entry arrangements will apply to the entrant's dependants.

Condition of Stay

When approval in principle is given to an entrant, he will be initially allowed to enter Hong Kong on visitor status for three months. If evidence of active progress in investment can be shown, his visitor status can be extended for another three months. When the entrant has furnished proof that the requisite level of investment has been made, permission to stay for two years (formal approval) will be granted. Further extensions for two years will be granted if the entrant can demonstrate to the satisfaction of the Immigration Department that he continues to meet the eligibility criteria and portfolio maintenance requirements as mentioned in the corresponding web pages. Further extensions for 2 years will be granted on the same basis. Upon completion of not less than seven years of continuous ordinary residence in Hong Kong, the entrant and his dependants may apply for the right of abode in Hong Kong in accordance with the law.

Entrants admitted under the Scheme are subject to a special condition of stay. If an entrant breaches any part of his Undertaking to the Immigration Department, he, together with his dependants, if any, would only be allowed to stay in Hong Kong for the remainder of his limit of stay or two months after the Director of Immigration has determined that he has breached the Undertaking, whichever is earlier.

Fees

The prescribed fee for a visa, entry permit, or extension of stay is HK$160.