NEW INVESTMENT SCHEME ENHANCED

The Government today announced enhancement measures for the New Capital Investment Entrant Scheme (New CIES) which will take effect on March 1, including the relaxation of the applicants' asset assessment and calculation requirements.

With the enhancements, an applicant under the New CIES is only required to demonstrate he/she has net assets or net equity to which the applicant is absolutely beneficially entitled with a market value of not less than $30 million net throughout six months, in the two years preceding his/her application.

Additionally, net assets or net equity jointly owned with the applicant's family members can be taken into consideration for the calculation of the net asset requirement for the respective portion which is absolutely beneficially entitled to the applicant.

Investments made through an eligible private company wholly owned by an applicant will also be counted towards their eligible investment in the scheme.

Secretary for Financial Services & the Treasury Christopher Hui said these measures will encourage more investors to join the scheme and can create synergy with the tax concession regime for family offices, thereby promoting the development of family office businesses in Hong Kong.

“We are committed to providing comprehensive support for family office decision-makers to establish themselves in Hong Kong, further attracting global asset owners and reinforcing Hong Kong's leading position as an international asset and wealth management hub."

In the 10 months since its launch on March 1, 2024, the scheme has received over 800 applications. The applications verified as having fulfilled the net asset requirement stood at 733, while 240 applications were verified as having fulfilled the investment requirements.

The Government noted that with the New CIES, investment to be brought into Hong Kong is expected to exceed $24 billion.

Click here for details of the New CIES. Call 3904 3001 or email to newcies@investhk.gov.hk for enquiries.

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