Why compare
Hong Kong's admission routes differ in what they reward: assets (the New CIES and the suspended original CIES), personal attributes (the Top Talent Pass Scheme and the Quality Migrant Admission Scheme) or a job offer (the General Employment Policy). The New CIES asks for no degree, income, age ceiling or employer and does not condition extensions on working in Hong Kong; in exchange, HK$30 million is ring-fenced for seven years and the application passes through two authorities. The table below uses the Immigration Department's and InvestHK's published rules; it is not immigration advice.
Comparison table
| Dimension | New CIES | Original CIES | Top Talent Pass Scheme | Quality Migrant Admission Scheme | General Employment Policy |
|---|---|---|---|---|---|
| Status | Open since 1 Mar 2024 | Launched Oct 2003, suspended 15 Jan 2015 | Open since Dec 2022 | Open | Open |
| Core threshold | HK$30 million net assets for six months plus HK$30 million invested | HK$10 million net assets for two years plus HK$10 million invested | A: income of HK$2.5 million or more in the preceding year; B: degree from an eligible university plus three years' experience in five; C: recent graduate, annual quota | General Points Test or Achievement-based Points Test | Employer offer for a post not readily filled locally at market pay |
| Employer needed | No | No | No | No | Yes |
| Investment needed | Yes: HK$27 million financial assets/real estate plus HK$3 million portfolio | Yes: HK$10 million financial assets (real estate excluded from 14 Oct 2010) | No | No | No |
| Status restrictions | Foreign nationals, Chinese nationals with foreign PR, Macao and Taiwan residents | Same | PRC passport holders need overseas PR or one year's overseas residence and apply from overseas | Mainland residents may apply | Mainland residents use the Admission Scheme for Mainland Talents and Professionals |
| Authorities | InvestHK (financial tests) and ImmD (visa) | ImmD | ImmD | ImmD | ImmD |
| Initial stay | 180-day visitor visa to invest, then up to 24 months | 2 years | 36 months (A) / 24 months (B, C) | 36 months (General Points) / 8 years (Achievement-based) | Usually 24 months or per contract |
| Extensions | Up to 3 years each, conditional on portfolio compliance | 2+3+3 years | Conditional on employment or business in Hong Kong | Conditional on employment or business; 6-year extension if resident 2 years with assessable income of HK$2 million or more | Conditional on continued employment |
| Work rights | After Formal Approval: employment, self-employment or business | Yes | Yes | Yes | Approved employer only |
| Dependants | Spouse/civil partner and unmarried children under 18 | Same | Same | Same | Same |
| Route after seven years | Permanent residence after seven years' continuous ordinary residence, or unconditional stay | Same | Permanent residence after seven years | Same | Same |
| Government fees (from 26 Feb 2025) | HK$600 application fee; HK$600 (180 days or less) or HK$1,300 (181 days or more) visa fee | Same for pending cases | Same | Same | Same |
| Main private costs | Practising CPA documents, intermediary fees, stamp duty on property | Accountant report | Credential verification | Credential verification | None specific |
Reading the table
The nature of the threshold differs. The capital route can be prepared: assets need only be held for six months and proven. The talent routes depend on facts that already exist, such as income, degree and experience. For someone with assets but neither a high income nor a listed-university degree, the capital route is often the only option; for someone with those credentials, the talent routes cost far less.
The investment constraint is unique to the capital route. For seven years the HK$30 million may only move between permissible assets, and HK$3 million sits in a locked portfolio with no guarantee. ImmD also requires proof that the applicant can live without relying on the investment's returns.
Extension conditions decide whether the seven years can be completed. Talent routes require employment or business in Hong Kong at renewal; the capital route only requires continued portfolio compliance, which suits retirees, passive investors and people whose business is elsewhere.
The ordinary-residence test for permanent residence is the same on every route. Only the New CIES offers unconditional stay to an entrant whose portfolio complied but whose residence did not. The original CIES cannot be applied for, and assets bought before 1 March 2024 cannot be carried into the new scheme. Routes can be combined: InvestHK confirms that a person already residing in Hong Kong under another scheme may apply, but the status and net-asset rules are unchanged.
Sources and dates
- New Capital Investment Entrant Scheme — Immigration Department · 2026-11
- Capital Investment Entrant Scheme (suspended since 15 January 2015) — Immigration Department · 2026-11
- Top Talent Pass Scheme — Immigration Department · 2026-11
- Quality Migrant Admission Scheme — Immigration Department · 2026-11
- New application fee and raised visa fee for talent and capital investment admission schemes introduced — HKSAR Government press release · 2025-02-26
Cite this page
You may quote this page freely; please keep the source and date. Suggested format:
New CIES Reference Editorial (2026). “New CIES Compared with Hong Kong's Other Admission Routes.” cies.hk. https://cies.hk/en/compare/ (accessed YYYY-MM-DD).