Potential $27b investment from scheme applicants so far

Judy Cui

The government has received more than 900 applications with an estimated HK$27 billion investment under the New Capital Investment Entrant Scheme, according to Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.

The scheme, which began accepting applications last year, aims to attract asset owners to settle in the city and explore its diverse investment opportunities through wealth allocation and management.

In a written response to a lawmaker yesterday, Hui said authorities had received 918 applications as of February, which are expected to bring more than HK$27 billion to the city if all are approved.

Meanwhile, the government has approved 868 applications for Net Asset Assessment and granted "formal approval" for 341 applications.

Hui also highlighted that none of the applicants have invested in residential real estate under the scheme among the 386 approved applications for investment assessment.

In addition, the Immigration Department has granted "approval-in-principle" for 756 applications, enabling the applicants to enter Hong Kong as visitors to make investments.