Hong Kong further relaxed requirements of its investor visa scheme

Hong Kong eased some requirements of its revived investor visa schemes to attract more millionaires, with measures effective from March 1.

The government will allow the investment made by an applicant through a wholly-owned eligible private vehicle to be calculated into the amount of the required investment, the Financial Services and the Treasury Bureau and Invest Hong Kong announced on Tuesday.

Officially launched in March 2024, the New Capital Investment Entrant Scheme raised the investment threshold to hKHK$30 million from HK$10 million before being suspended.

The government will relax the net worth test and calculation requirements. 

The applicants will be only required to demonstrate their net assets or net equity with a market value of not less than HK$30 million net throughout six months preceding the application, shorter than the two years currently needed.

In addition, net assets jointly owned with the applicant's family members can now be taken into consideration for the calculation in certain portion.

The assets held through family-owned vehicles will be recognized as well.

Secretary for Financial Services and the Treasury Christopher Hui Ching-yu believes the optimized measures will attract more investors and create synergy with the tax relief regime for family offices to further promote the development of family office business in Hong Kong.

The government received more than 800 applications have been received in the first 10 months since the launch, of which 733 have been verified as meeting the net asset requirement and 240 have been verified as meeting the investment requirement, with an estimated investment amount of more than HK$24 billion to be brought to Hong Kong.

(Themis Qi)