7th January 2025 – (Hong Kong) The Chief Executive’s 2024 Policy Address has unveiled significant enhancements to the New Capital Investment Entrant Scheme (New CIES). The Financial Services and the Treasury Bureau, along with Invest Hong Kong, revealed the details of these enhancements, which will take effect on 1st March, 2025.
Mr Christopher Hui, the Secretary for Financial Services and the Treasury, expressed confidence in the scheme’s ability to draw high-net-worth individuals, business leaders, and innovative entrepreneurs. “Since the scheme’s inception, we have maintained close dialogue with the industry to identify areas for further improvement. The newly announced measures not only simplify the net asset assessment criteria but also permit investments made through an eligible private company wholly owned by an applicant to be considered as part of the eligible investment,” he stated.
The enhancements aim to create synergy with the tax concession regime for family offices, further promoting family office businesses in Hong Kong. “We are dedicated to providing robust support for family office decision-makers who wish to establish themselves in Hong Kong, thus attracting global asset owners and solidifying our city’s status as an asset management hub,” Mr Hui added.
Ms Alpha Lau, Director-General of Investment Promotion, noted a surge in confidence among investors. “In the first ten months of the New CIES, we have seen a greater number of applications compared to the same period under the previous Capital Investment Entrant Scheme launched in 2003. This is indicative of strong investor confidence in Hong Kong,” she said.
The report outlines significant enhancements to the New Capital Investment Entrant Scheme (New CIES), which will take effect on 1st March, 2025. Applicants are now required to demonstrate net assets or net equity of at least HK$30 million over the six months before their application, and they can also include jointly owned net assets with family members in this calculation. Additionally, investments made through a private company that is wholly owned by the applicant will be recognised as part of the eligible investments, provided the company is incorporated in Hong Kong and managed by an eligible single family office.
Since its launch on 1st March, 2024, the New CIES has gained considerable traction, with nearly 7,000 enquiries and over 800 applications submitted. Of these, 733 applications have been confirmed as meeting the net asset requirement, while 240 have been verified for having made qualifying investments in Hong Kong. The anticipated investment amount from these applications is expected to exceed HK$24 billion. For further details on the new rules and other inquiries, interested parties can visit the New CIES website or contact the enquiry hotline.
