First Six Months: Hong Kong’s Capital Investment Entrant Scheme (CIES) Receives 500 Applications

Hong Kong’s Capital Investment Entrant Scheme (CIES), relaunched by the government six months ago, continues to attract interest from global investors, receiving a total of 500 applications.

According to government information, 47 investors have met the program’s strict investment requirements, with each investor contributing at least HKD 30 million.

Among the 500 applicants, 448 individuals successfully demonstrated a net worth of at least HKD 30 million in the two years prior to their application. The 47 verified applicants, each having invested HKD 30 million, are currently awaiting visa approval from the Immigration Department.

Each application represents a commitment to invest HKD 30 million (USD 3.8 million), potentially injecting HKD 15 billion into the local economy. InvestHK has reported receiving over 5,000 inquiries during the first six months of the program’s operation.

Siren Chen, Head of Research & Development at Globevisa Group, explained that the low approval rate is not due to “delays but rather delayed investment decisions.”

Chen noted that “only 47 applicants have completed their investment because, after receiving approval, applicants have 180 days to complete their investment.” She emphasized that many applicants “are not in a rush to invest immediately after approval” but take time to “choose products and investment directions.”

She attributed the slower pace of CIES processing to the program’s diverse qualifying investment options, which “provide applicants with more choices and considerations.”

Based on historical CIES data, Stephen D. Barnes, Co-founder of the Hong Kong Visa Centre, sees significant potential for growth as the program is newly relaunched.

He pointed out that, according to statistics in the Hong Kong Immigration Department’s annual report, the total number of applicants under the old CIES program “approached 20,000 in the five years from 2011 to 2015.”

How does CIES work and who is it for?

The program’s nationality eligibility parameters are broad, including foreign nationals (with exceptions), Chinese nationals with permanent residency or foreign citizenship, Macao SAR residents, and Chinese residents of Taiwan.

CIES, designed by the government to attract high-net-worth individuals, requires a minimum investment of HKD 30 million (USD 3.85 million) into acceptable assets. Applicants can invest in assets including non-residential real estate or financial products.

Of that total, applicants must invest at least HKD 27 million into financial assets, excluding real estate, and a minimum of HKD 3 million into a CIES portfolio managed by the Hong Kong Investment Corporation, which supports the innovation and technology sector.

The success of CIES, complementing the city’s other residence options for skilled immigrants, plays a crucial role in strengthening Hong Kong’s position as a global financial and talent hub.