Before committing HK$30 million: who qualifies, where the money may sit, and what the seven years require

What the scheme is

The New Capital Investment Entrant Scheme (New CIES) is the Hong Kong SAR Government's capital-investment route to residence. Details were announced on 19 December 2023 and applications opened on 1 March 2024. An applicant does not need a job, a business or a qualification in Hong Kong: the conditions are age, eligible status, net assets and a clean record, plus an investment of at least HK$30 million in permissible investment assets. After seven years of continuous ordinary residence the entrant and dependants may apply for permanent residence. The scheme replaces, but does not continue, the original Capital Investment Entrant Scheme of 2003, which had a HK$10 million threshold and was suspended on 15 January 2015.

Two authorities share the work. The New CIES Office under Invest Hong Kong (InvestHK) carries out three financial assessments, on net assets, on the investment and on portfolio maintenance, and issues a certifying proof after each while notifying the Director of Immigration. The Immigration Department (ImmD) grants approval-in-principle, formal approval, extensions of stay and unconditional stay, and has absolute discretion over every residence application.

Who qualifies

A Mainland-born applicant holding a PRC passport must already hold permanent residence in a foreign country and must file the foreign immigration authority's or consulate's official proof with ImmD; that proof is checked again at every extension.

Where the HK$30 million may sit

At least HK$27 million goes into any mix of permissible financial assets and real estate; HK$3 million goes into the CIES Investment Portfolio set up and overseen by the Hong Kong Investment Corporation, which invests in innovation and strategic industries with a Hong Kong nexus, carries a lock-up and offers no guarantee of capital or distributions.

Fees, commissions, stamp duty, accrued interest, rebates, margin positions and foreign-exchange shortfalls do not count. Since 1 November 2026, financial assets bought through non-designated accounts and transferred in are no longer accepted; everything must be transacted through the designated accounts.

The seven-year rules

Financial assets must be held in designated accounts opened with up to three eligible financial intermediaries of different categories: an authorised bank, a corporation licensed for Type 1 or Type 9 regulated activities, or an insurer authorised for Class C business. The accounts are used only for permissible assets and never on margin. The entrant may not charge, assign or create any third-party interest over the assets, may not withdraw capital or appreciation even when the portfolio is worth more than HK$30 million, and may withdraw only cash dividends, interest and rent. Assets may be sold at any time if the entire market value on the disposal date is reinvested: within 14 calendar days between sale and purchase contracts for financial assets, and within two or three calendar months where real estate is involved. If the portfolio falls below HK$30 million, or is lost entirely, no top-up is required.

Each year, within one month after the anniversary of Formal Approval, the entrant files a practising CPA's fulfillment document and an anniversary statement; the intermediary reports the account within 14 working days after the anniversary and notifies the New CIES Office within seven working days of withdrawals, charges or changes of ownership. From 1 March 2025 the investment may be held through a wholly owned Hong Kong private company that qualifies as a family-owned investment holding vehicle managed by an eligible single family office with at least HK$240 million under management; since 1 March 2026 no minimum period of incorporation applies.

Stay, extensions and the two routes after year seven

After InvestHK's net-asset proof, ImmD grants approval-in-principle and a visitor visa of up to 180 days to complete the investment. After InvestHK's investment proof, ImmD grants Formal Approval with a limit of stay of normally not more than 24 months; dependants receive the same. Extensions are normally for not more than three years at a time, applied for within three months and at least six weeks before expiry, with InvestHK's portfolio-maintenance proof requested not earlier than three months before expiry. Entrants may work, hold office or run a business once formally approved.

After seven years, an entrant who has ordinarily resided in Hong Kong continuously may apply for verification of eligibility for a permanent identity card (free of charge); non-Chinese nationals also declare Hong Kong as their place of permanent residence. An entrant who cannot meet the residence test but whose portfolio has complied for seven years may apply for unconditional stay, which removes all conditions and limits of stay without conferring permanent residence. In either case the investment may then be disposed of. An entrant found in breach of the undertaking must leave within two months.

Dependants, tax and fees

Dependants are the spouse (or the other party to a civil partnership, civil union or same-sex marriage legally recognised where it was celebrated) and unmarried children under 18; they may work and study, their stay is linked to the sponsor's, and a former spouse cannot extend as a dependant after a divorce.

Hong Kong taxes on a territorial basis with no capital gains tax, no tax on dividends or interest received by individuals and no estate duty since 11 February 2006. Salaries tax runs from 2% to 17% in HK$50,000 bands or at a two-tier standard rate of 15% and 16% (on net income above HK$5 million), whichever is lower; corporate profits tax is 8.25% on the first HK$2 million and 16.5% thereafter. Joining the scheme does not make a person a Hong Kong tax resident: the Inland Revenue Department's certificate of resident status looks at ordinary residence, or presence of more than 180 days in a year of assessment or more than 300 days over two consecutive years. Home-jurisdiction tax, exit tax and Common Reporting Standard obligations need advice in that jurisdiction.

Government fees since 26 February 2025: a non-refundable application fee of HK$600 per application for the principal applicant and each dependant, and a visa fee of HK$600 (limit of stay of 180 days or less) or HK$1,300 (181 days or more), payable again at each extension. InvestHK's pages list no assessment fee; the applicant pays the practising CPA, the intermediaries and all transaction costs, none of which count towards the HK$30 million.

Scale of the scheme

InvestHK reported on 2 March 2026 that 3,166 applications had been received by 28 February 2026, 1,762 had completed investment and received Formal Approval, and about HK$95 billion of investment was expected; second-year applications rose 145% to 2,248. Verified investments were 38.6% SFC-authorised funds, 29.0% equities, 9.9% investment-linked assurance schemes, 9.5% debt securities, 3.2% others and 9.9% the CIES Investment Portfolio, out of HK$55,636 million. These are official as-at figures and say nothing about the outcome or timing of any future application. Nothing on this site is immigration, legal, tax or investment advice.