Just now, it was announced that after 8 years, Hong Kong’s Capital Investor Entry Scheme (CIES) has been restarted!

The Chief Executive of the Hong Kong Special Administrative Region, Lee Ka chao, delivered the "Chief Executive's 2023 Policy Address" at 11:00 am today (25th) in the Legislative Council's Comprehensive Building. This is the second policy address delivered by Lee Ka chao during his tenure.

The theme of this year's policy address is "Striving for economic development, benefiting people's livelihoods, and adding happiness". The cover color of the policy address will continue to be green. Li Jiachao previously introduced to the public that green represents hope, vitality, and harmony. He hopes to use green as a symbol of Hong Kong's prosperity and progress towards prosperity, and continuing to use green can also represent the continuation of Hong Kong's vitality year after year.

The second policy address stated that qualified investors investing in stocks, funds, bonds and other assets (excluding real estate) worth 30 million yuan or more in Hong Kong through the implementation of the "Capital Investor Entry Plan" can apply to come to Hong Kong through the plan to enhance the development advantages of the asset and wealth management, financial and related professional service sectors in Hong Kong. Details will be announced this year.

In addition, the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, stated that Hong Kong has emerged from the epidemic this year and the government has launched multiple activities and measures, such as "Hello Hong Kong", "Happy Hong Kong", and "Hong Kong's Colorful Nights", to attract tourists and boost local consumption. The economy is beginning to recover, and the income of citizens continues to improve. In the first half of the year, the real gross domestic product (GDP) increased by 2.2% year-on-year, and the latest unemployment rate dropped to 2.8%, close to universal employment. The Hong Kong economy will shake off last year's negative growth and return to positive growth.

What is an investor entry plan?

The Hong Kong Investment Immigration Scheme, also known as the "Capital Investor Entry Scheme" (CIES), was launched in October 2003 during the tenure of Chief Executive Tung Chee hwa. It was based on the proposal of the then Chief Secretary for Administration, Donald Tsang, in his "Population Policy Task Force Report" to attract high-quality immigrants with funds, which is a special immigration channel established for capital investors.

Investors only need to choose their own investment projects among different permitted asset classes to obtain Hong Kong residency rights. Simply put, applicants can apply for Hong Kong status as long as they come to invest in Hong Kong!

So, what is the reason for restarting CIES this year after eight years

1. Hong Kong needs enterprises, talents, and high net worth individuals to drive its economic development

For high net worth users, Hong Kong's friendly corporate tax and personal income tax have great appeal for investment

3. As a world window to China and even Asia, Hong Kong's policies are at the forefront, and its welfare and education systems are well-established. As a result, Hong Kong's identity will continue to shine!

Policy Development of Hong Kong Investor Entry Scheme

In October 2003, in order to revive the sluggish economy hit hard by the SARS pandemic, the Hong Kong SAR government launched the "Capital Investor Entry Plan" for the first time, with the aim of allowing investors who intend to invest no less than HKD 6.5 million in Hong Kong but do not participate in business operations in Hong Kong to settle in Hong Kong.

In October 2010, the Hong Kong Special Administrative Region government made adjustments to the immigration policy. After revision, the application requirements were increased from HKD 6.5 million to HKD 10 million, and the amount invested in real estate was excluded.

In January 2015, the Hong Kong SAR government announced a suspension of accepting investment immigration applications and abolished the CIES policy. The main reason is based on an analysis of the economic situation at that time and the necessity of this policy. So far, the plan has introduced a total of 37000 investment immigrants to Hong Kong.

In February 2023, the Hong Kong Special Administrative Region Government announced in the "Introduction of Enterprises and Gathering of Talents" section of the "2023/2024 Financial Budget" that it will introduce a company relocation mechanism to attract foreign enterprises to relocate to Hong Kong; Launch a new "Capital Investor Entry Plan": Applicants can invest a certain amount of assets (excluding property investments) in Hong Kong and come to Hong Kong for residence and development after approval.

On August 18, 2023, members of the G19 Legislative Council of Hong Kong, China, met with Chief Executive Li Jiachao and submitted multiple joint initiatives on the 2023 Policy Address, including accelerating the implementation of the new version of the Capital Investor Entry Plan, proposing an investment threshold of no less than HKD 30 million.

On October 6, 2023, the Financial Secretary of Hong Kong, Chen Maobo, delivered a speech at the Private Wealth Management Association Summit, stating that the Hong Kong government is actively finalizing new details of the capital investor entry plan and is expected to guide a large amount of funds into the Hong Kong capital market.

Key Points of the 2023 Capital Investor Entry Plan

(1) Investment amount

An investment of HKD 30 million is required;

(2) Investment requirements

The applicant must invest a certain amount of assets in the local market;

(3) Investment category

Financial assets include stocks, bonds, funds, etc;

Industries and projects that are conducive to the long-term development of Hong Kong, such as start-ups and start-ups; Excluding property investments;

(4) Identity requirements: excluding mainland Chinese residents