Capital Investment Entrant Scheme: HK Investment Visa Guide

Relaunched in March 2024, the new Capital Investment Entrant Scheme (CIES) offers high-net-worth individuals a streamlined pathway to residency through passive investment in Hong Kong. With enhanced provisions and new rules effective in 2025, this Hong Kong investment visa program particularly appeals to sophisticated investors, including those with cryptocurrency holdings, as Hong Kong now accepts digital assets such as Bitcoin and Ethereum as proof of net worth during the application assessment phase. Critically, while cryptocurrency can demonstrate your financial capacity, these digital assets must be converted into approved traditional investments to meet the investment requirement set by the government.

What is the Capital Investment Entrant Scheme (CIES)?

The Capital Investment Entrant Scheme facilitates residency for individuals who commit significant capital to Hong Kong's economy through passive investment. The program requires HK$30 million across approved asset classes. Upon approval, you and eligible dependents receive an initial stay of up to 24 months, renewable in three-year increments. The scheme imposes no requirements to operate businesses, create employment, or maintain minimum stay periods between renewals, providing flexibility for international investors maintaining global business activities while building connections to Hong Kong.

Eligibility Criteria for the CIES

This Hong Kong investment visa program mandates that applicants be at least 18 years old and hold permanent resident status from a foreign country. Mainland Chinese citizens qualify if they possess permanent residency in another jurisdiction. Citizens of Afghanistan, Cuba, and the Democratic People's Republic of Korea are excluded. Applicants must demonstrate financial self-sufficiency independent of investment returns, employment, or public assistance, and present a clean immigration history satisfying standard security requirements. ership funds registered under the Limited Partnership Fund Ordinance in Hong Kong, though investment in open-ended fund companies and limited partnership funds face an aggregate HK$10 million cap.

Real estate investments may include non-residential properties, for which there is no minimum transaction price requirement, and residential properties, which must consist of a single property with a transaction price of at least HK$30 million, where the date of completion is on or after 17 September 2025. For residential properties with a date of completion before 17 September 2025, the investment must be made in one single property with a transaction price of at least HK$50 million, and in all cases only up to HK$15 million of real estate in total (of which no more than HK$10 million may be residential) can be counted toward the minimum investment threshold under the Scheme.

Step-by-Step Application Process for the CIES

The application process for the Hong Kong Capital Investment Entrant Scheme is a structured, multi-stage procedure that requires the applicant to successfully complete financial verification by the New CIES Office at each critical juncture, covering from net assets and investment to portfolio maintenance, before submitting the corresponding immigration application to the Immigration Department (ImmD).

The key steps are outlined as follows:

Net Asset Assessment:

Applicant hires a Certified Public Accountant (Practicing) to demonstrate fulfillment of the Net Asset Requirement (NAR).
Applicant submits the NAR application and supporting documents to the New CIES Office within 14 calendar days of the fulfillment document's issuance.

Entry Application (Initial Approval):

Upon NAR verification, the New CIES Office notifies ImmD.
Applicant submits an Entry Application to the Immigration Department (ImmD).
If approved, ImmD grants a visa/entry permit of up to 180 days for the applicant to enter and make the committed investment.

Investment Verification & Formal Approval:

Applicant makes the committed investment.
Applicant hires a CPA again to demonstrate fulfillment of the investment requirements and submits the application to the New CIES Office.
Upon successful verification, the New CIES Office notifies ImmD.
Applicant submits the certifying proof to ImmD, which grants formal approval and an initial permission to stay of normally up to 24 months.

Extension/Unconditional Stay:

For extensions of stay or Unconditional Stay (after 7 years), the entrant must first obtain verification and a certifying proof from the New CIES Office regarding the portfolio maintenance requirements compliance.
The entrant then submits the final application for extension or unconditional stay to ImmD.

Key Advantages of the CIES

Flexibility Without Business or Residency Obligations

The Capital Investment Entrant Scheme distinguishes itself through a passive investment structure requiring no business establishment or local employment creation. This flexibility allows you to maintain international business activities and lifestyle while building Hong Kong connections at your own pace. Your only obligation involves maintaining an investment portfolio at committed levels, with no restrictions on asset allocation changes within permissible categories, enabling adjustments responding to market conditions or evolving investment objectives.

Permanent Residency for Family Members

The investment visa program extends residency benefits to your spouse and unmarried dependent children under 18 years of age, who qualify for dependent visas, receiving identical stay duration. Family members have access to Hong Kong's quality of life advantages throughout the residency period. Dependents receive identical extension periods and become eligible for permanent residency application after completing seven years of continuous ordinary residence, ensuring cohesive family planning and succession strategies.

Tax Benefits: No Capital Gains Tax

Hong Kong imposes no capital gains tax regardless of asset class or tran

Significantly, Hong Kong now accepts cryptocurrency holdings such as Bitcoin and Ethereum as valid proof of wealth during net asset assessment, provided these assets are properly assessed by certified public accountants and held in regulated exchanges or secure cold storage. This represents a progressive regulatory approach that recognizes the legitimacy of digital asset wealth. However, it remains essential to understand that under the CIES scheme rules, digital assets do not qualify as permissible investments for the actual HK$27 million investment deployment. Applicants with cryptocurrency portfolios must liquidate or convert these holdings into approved asset classes before completing the investment requirements. This two-stage approach allows crypto holders to leverage their digital wealth for eligibility verification while ensuring actual investments flow into Hong Kong's regulated financial markets and real estate sector.

Minimum Investment Threshold

The scheme rules mandate a total investment of HK$30 million, structured across two components. The primary allocation requires HK$27 million in permissible financial assets, real estate, or combinations thereof, with complete discretion over asset allocation within approved categories. This flexibility enables portfolio construction aligned with your risk tolerance and investment objectives. The secondary component requires HK$3 million placed into the CIES Investment Portfolio managed by Hong Kong Investment Corporation Limited, targeting companies and projects with Hong Kong connections, particularly those advancing innovation and technology sectors. This allocation is subject to lock-up periods, with withdrawal permitted only after specified terms and subject to market liquidity conditions. The structure ensures capital contributes to both personal wealth objectives and Hong Kong's economic development while providing meaningful portfolio growth opportunities.

Approved Asset Classes

Permissible investment assets encompass comprehensive options across traditional financial instruments and select real estate. Equity investments refer to the shares of Hong Kong Stock Exchange-listed companies, which are traded in Hong Kong Dollars or Renminbi. Fixed-income allocations may include Hong Kong government bonds, debt securities from listed companies, subordinated debt in Renminbi and certificates of deposit of up to HK$3 million with a minimum 12-month maturity. Collective investment schemes include Securities and Futures Commission-authorized funds, real estate investment trusts, investment-linked assurance schemes, open-ended fund companies, and limited partnsaction volume, applying to all permissible CIES investments from equity trading gains to property appreciation. This zero-rate treatment creates meaningful wealth accumulation benefits over the seven-year path to permanent residency, as investment returns compound without erosion from realized gain taxes. The city maintains low salary tax rates with generous allowances, no value-added tax, and no estate duty, supporting efficient wealth management for investors establishing a long-term presence.

Why Choose Hong Kong for Investment Migration?

Hong Kong's position as an international financial center offers advantages that extend beyond residency mechanics. The established common law system protected by the Basic Law provides legal certainty and robust property rights that sophisticated investors require. Strategic location within the Greater Bay Area positions residents to access opportunities across one of the world's most dynamic economic regions, combining Hong Kong's international business environment with mainland China's growth through established cross-border frameworks.

The city hosts one of the world's largest concentrations of international banks, ranks as a leading asset management center with over HK$35 trillion in assets under management, and operates one of the world's most liquid stock exchanges. For families, Hong Kong provides an exceptional quality of life through international schools, low crime rates, excellent healthcare, and modern infrastructure. The jurisdiction's progressive approach to cryptocurrency and digital assets represents a forward-looking regulation rare among major financial centers.

Why Choose Victory Securities as Your Investment Partner?

As a pivotal financial institution in Hong Kong, Victory Securities offers high-net-worth investors across the globe a secure and trusted platform to manage their multi-jurisdictional wealth. We stand out by seamlessly integrating traditional financial services with institutional-grade virtual asset capabilities. We provide sophisticated wealth management strategies, cross-border account flexibility, and access to a wide spectrum of global financial products. To support comprehensive asset growth and legacy planning, we explicitly offer dedicated services for Family Office structuring and Trust arrangements. Leveraging our regulatory compliance and expertise, we empower international investors to capitalize on Hong Kong’s status as a secure, world-class financial hub for comprehensive asset growth and legacy planning.

How Victory Securities Simplifies Your Investment Visa Application

Victory Securities operates as a fully licensed stock brokerage service provider in Hong Kong, uniquely positioned to serve investors navigating both digital asset holdings and Hong Kong residency requirements by investment.

For applicants with cryptocurrency portfolios, we provide crucial support as one of Hong Kong's licensed corporations with the necessary regulatory approvals to offer digital asset dealing, advisory, and asset management services. This position allows us to facilitate the seamless transition of digital assets, such as Bitcoin and Ethereum, into fiat currency via our regulated platform. This conversion process is key to enabling the applicant to meet the Investment Requirements by deploying funds into the Permissible Investment Assets. We offer a unique Coin-Quantity Guarantee, committing to maintaining the coin amount of your digital assets throughout the service process.

As a comprehensive financial institution, we provide general services expected of a fully licensed brokerage in Hong Kong, including the opening of designated brokerage accounts for holding a wide range of Permissible Financial Assets, such as Hong Kong and global securities, exchange-traded funds, and debt securities. This includes guidance on the HK$3 million mandatory placement into the CIES Investment Portfolio. By integrating both specialized and general services, we ensure that your CIES application and subsequent investment management are streamlined for efficiency and designed to adhere strictly to the scheme rules.

Frequently Asked Questions (FAQ)

What types of assets can I choose to meet the minimum investment threshold?

You must allocate HK$27 million across permissible financial assets and real estate, plus HK$3 million to the CIES Investment Portfolio. Options include Hong Kong Stock Exchange-listed equities, debt securities, certificates of deposit up to HK$3 million, Securities and Futures Commission-authorized collective investment schemes, non-residential properties, and residential properties with minimum transaction prices of HK$30 million. Private funds face an HK$10 million aggregate cap. Cryptocurrency does not qualify as a permissible investment asset under the scheme rules.

However, Victory Securities can facilitate the conversion of non-permissible asset classes into fiat currency, stocks, or ETFs to meet the HK$27 million requirement. In addition, we provide access to Virtual Asset Spot ETFs. Since these ETFs are listed as 'equities' on the Hong Kong Stock Exchange, they also qualify directly as a permissible financial asset under the CIES rules. To streamline investment, we offer Spot Subscription on VA Spot ETFs, meaning applicants can utilize tokens to subscribe this permissible financial asset.

How do I prove that my net assets meet the requirements?

You engage a Hong Kong certified public accountant to prepare a Net Assets Statement confirming net assets of a minimum HK$30 million throughout the six months preceding your application. For cryptocurrency portfolios, Bitcoin and Ethereum are accepted as valid proof, provided they are properly valued and held in regulated exchanges or secure cold storage. You submit this certified statement with supporting documentation to InvestHK for assessment. After verification, cryptocurrency holdings used for net asset proof must be converted into approved permissible investment assets to satisfy the HK$27 million investment requirement.

What happens if my asset value drops—will I need to add funds?

The Capital Investment Entrant Scheme does not require topping up if market fluctuations reduce portfolio value below HK$30 million after initial investment verification. Your obligation is to maintain the committed investment, rather than its specific market value. However, you must not voluntarily reduce committed investment through withdrawals unless simultaneously reinvesting the entire proceeds into other permissible assets, which primarily include the following categories:

Equities
Debt Securities
Certificates of Deposits
Subordinated Debt
Eligible Collective Investment Schemes
Ownership Interest in Limited Partnership Funds
Non-Residential Real Estate
Residential Real Estate

Victory Securities provides specialized services to manage these assets and maintain CIES compliance:

Exchange Custody Services: We offer secure, licensed third-party custody for your funds, incorporating security insurance and industry-leading KYC/AML procedures to enhance our asset management. This prevents potential token loss and safeguards your assets.
Asset Class Conversion: We facilitate asset conversion and switching, including our proprietary "Coin In, Coin Out" services, which simplify the flow of funds between virtual assets and traditional stock investments on our regulated platform.
One-stop Consulting Solutions: We offer a comprehensive range of corporate financial advisory services, including helping clients rapidly establish listing platforms, develop or acquire virtual asset businesses, and manage communication with regulatory bodies.

Can I switch my investment to another asset class?

You maintain complete flexibility to switch between permissible investment assets, provided you reinvest the entire net proceeds from disposals into other approved assets within timeframes, maintaining continuous portfolio compliance. There is no rule listed in the CIES scheme that prevents switching between equities, bonds, collective investment schemes, and real estate, enabling responses to market conditions or portfolio rebalancing.

Do my spouse and children need to apply separately?

Your spouse and unmarried dependent children under 18 are covered under your principal application as dependents, eliminating the need for separate investments. Upon being formally approved by the Immigration Department, dependents receive permission to stay for the same duration, benefit from identical extension periods, and accumulate continuous ordinary residence time in parallel, making them eligible for permanent residency in Hong Kong after seven years alongside you.

Victory Securities integrates investment migration services directly with our wealth management team, ensuring your entire family's residency and legacy planning goals are supported from initial application through to permanent residency.

How does Victory Securities help speed up the application process?

Victory Securities streamlines your application journey for the Hong Kong investment visa program, such as CIES, through specialized expertise in digital asset documentation and traditional investment deployment. We structure net asset documentation correctly from the outset, particularly for applications that incorporate cryptocurrency holdings and require specific valuation methodologies. Our designated account infrastructure enables efficient investment execution following Approval-in-Principle, with compliance systems pre-verifying that all selected assets qualify as permissible investments. While actual approval timelines remain under government control, our comprehensive preparation helps minimize delays caused by documentation deficiencies or compliance issues that may require resubmission.

Furthermore, our support extends beyond the initial application documentation to facilitate approval for CIES asset requirements. We leverage our platform's wide range of financial services, including dedicated asset management services and a licensed crypto exchange (SFC Type 1), to provide continuous, long-term wealth management and flexibility. This includes professional management of your CIES portfolio for growth, secure, insured third-party exchange custody services for your funds, and the use of asset-class conversion, such as 'Coin In, Coin Out', to actively manage your wealth and facilitate multi-jurisdictional financial planning.