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NEW CAPITAL INVESTMENT ENTRANT SCHEME (CIES)

1. CIES Report
2. Net Assets Assessment Report
3. Permissible Investment Assets Report
4. Arrange Property Valuation Report

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NEW CAPITAL INVESTMENT ENTRANT SCHEME - Eligibility Criteria

(a) Age
an Applicant is aged 18 or above at the time of applying for Net Asset Assessment;

(b) Scope of the Scheme
an Applicant must fall into one of the following categories covered by the Scheme:
foreign nationals1;
Chinese nationals who have obtained permanent resident status in a foreign country;
Macao Special Administrative Region residents; and
Chinese residents of Taiwan;

(c) Net assets
an Applicant must apply for a Net Asset Assessment: the Applicant should demonstrate to the satisfaction of Director-General of Investment Promotion that he has Net assets or Net equity to which he is absolutely beneficially entitled with a Market value of not less than HK$30 million Net (or equivalent in foreign currencies) throughout the two years preceding the date he lodged his application for Net Asset Assessment of the Scheme;

(d) Investment in Permissible investment assets
an Applicant must make the committed investment in Permissible investment assets on or after the launch date of the Scheme (i.e. 1 March 2024). An Applicant has met the Investment Requirements if he:

has invested within and thereafter throughout the period beginning on the launch date of the Scheme or the 180th day before his application is lodged for Net Asset Assessment, whichever is later, and ending on the day his application is lodged for Net Asset Assessment; or
has invested within and thereafter throughout the period beginning on the launch date of the Scheme or the 180th day before his application is lodged for Net Asset Assessment, whichever is later, and ending on the 180th day after Approval-in-Principle has been granted by Director of Immigration; or
has invested within and thereafter throughout the period beginning on the day when Approval-in-Principle has been granted by Director of Immigration and ending on the 180th day thereafter;

not less than HK$30 million Net (or equivalent in foreign currencies) in Permissible investment assets to which he is absolutely beneficially entitled;

(e) No adverse record
an Applicant must demonstrate that he has no adverse immigration record and meets normal immigration and security requirements; and

(f) Others
an Applicant can demonstrate to Director of Immigration that he is capable of supporting and accommodating himself and his dependants, if any, on his own without relying on any return on the Permissible investment assets, employment, self-employment, office, business or public assistance in or carried on in Hong Kong as the case may be. In addition, the entry of dependants will be subject to any other policy applicable to such entry at the time.

NEW CAPITAL INVESTMENT ENTRANT SCHEME - Application Procedures

1. Net Asset Assessment

Before an Applicant submits an Entry Application to Director of Immigration, he is required to first approach New CIES Office for verifying whether he has fulfilled the Net Asset Requirement. The Applicant is required to engage a Certified Public Accountant (Practising) as defined in the Accounting and Financial Reporting Council Ordinance (Cap. 588 of the Laws of Hong Kong) at his own cost to assist in demonstrating his fulfillment of Net Asset Requirement and submit an application for Net Asset Assessment with provision of the Fulfillment document and all relevant supporting documents stated therein. No more than 14 calendar days may elapse between the date of issuance of the Fulfillment document and the date on which the Applicant lodges his application for Net Asset Assessment.

Documents list:
IHK-CIES01(3/2024) Application Form for Net Assets Assessment
Net Assets Assessment Report (issued by Certified Public Accountant)

2. Assessment on Investment Requirements

An Applicant must make investment of a minimum of HK$30 million Net (or equivalent in foreign currencies) in the Permissible investment assets. Assets acquired before the launch date of the Scheme shall not be counted towards the fulfillment of minimum investment threshold. The Applicant/Entrant must invest a minimum of HK$27 million in any of the following Permissible financial assets and/or non-residential real estate referred below. Separately, each Applicant under the Scheme is required to place HK$3 million into a new Capital Investment Entrant Scheme Investment Portfolio, which will be set up and managed by the Hong Kong Investment Corporation Limited.

Upon the Applicant's completion of making the committed investment within the specified investment timeframe, an Applicant is required to approach New CIES Office for verifying whether he has fulfilled the Investment Requirements. The Applicant is required to engage a Certified Public Accountant (Practising) as defined in the Accounting and Financial Reporting Council Ordinance (Cap. 588 of the Laws of Hong Kong) at his own cost to assist in demonstrating his fulfillment of the Investment Requirements and submit an application to New CIES Office with provision of the Fulfillment document and all relevant supporting documents stated therein for verification of his fulfillment of the Investment Requirements.

Documents list:
IHK-CIES02(3/2024) Application Form for Assessment on Investment Requirements
Permissible Investment Assets Report (issued by Certified Public Accountant)

3. Assessment on Portfolio Maintenance Requirements

The Applicant/Entrant is required to engage a Certified Public Accountant (Practising) as defined in the Accounting and Financial Reporting Council Ordinance (Cap. 588 of the Laws of Hong Kong) at his own cost to assist in demonstrating his fulfillment of Portfolio Maintenance Requirements after the first anniversary of the grant of Formal Approval to the Applicant/Entrant to join the Scheme, and after each subsequent anniversary. The Applicant/Entrant is required to submit the Fulfillment document and all relevant supporting documents stated therein within one month after the first anniversary, and after each subsequent anniversary to New CIES Office.

Documents list:
Relevant certification documents that comply with New Capital Investment Entrant Scheme - Section 6.2 of the fulfillment of Portfolio Maintenance Requirement

CIES Report - Net Assets Assessment Report (Documents list)

Bank deposits (i.e. Savings and time deposits)

1. Monthly statement of bank account/Bank passbook
2. Reference letter from the bank
3. Certificate of deposit from the bank

Securities, bonds and funds

1. Monthly statement of the securities account
2. Reference letter from the securities company
3. Contract signed between the applicant and securities company in the time of account opening (for Mainland)
4. Notarial certificate from the Public Notary Office in verifying the authenticity of the stamps in the monthly statement/reference letter from the securities company (for Mainland)
5. Written valuation report from a valuer acceptable to a Certified Public Accountant (Practising) in Hong Kong (for assets not traded on a public exchange)

Real estate

1. Land registry record showing the real estate ownership
2. Real estate ownership certificate (real estate in city, for Mainland)
3. National-owned land use permit (land in the countryside, for Mainland)
4. Mortgage deed (if any)
5. Written valuation report from a valuer acceptable to a Certified Public Accountant (Practising) in Hong Kong (Property Valuation Report Arrangement)

Shares in company

1. Annual Return filed to the Companies Registry/The applicant's ownership proof from the official authority (for HK/overseas)
2. Enterprise Legal Representative Business License (for Mainland)
3. Capital verification report (if any, for Mainland)
4. Latest company information print-out from Administration for Industry and Commerce (for Mainland)
5. Share certificate, certificate of incumbency and certificate of corporation (for BVI)
6. Auditor's report

Others (please specify)

1. Written valuation report from a valuer acceptable to a Certified Public Accountant (Practising) in Hong Kong(for assets not traded on a public exchange)
2. Documentary evidence in certifying the market value and the applicant's absolute beneficial entitlement on the assets

CIES Report - Permissible Investment Assets Report (Documents list)

Equities, debt securities, subordinated debt and eligible collective investment schemes

1. Contract note/receipt/statement issued by the financial institution showing the amount invested by the applicant
2. Reference letter from the financial institution

Certificates of deposits

1. Certificate of deposit from the bank
2. Reference letter from the bank

Ownership interest in limited partnership funds

1. Partnership agreement
2. Auditor's report
3. Documentary evidence in certifying the amount invested by the applicant

Non-residential real estate

1. Land Registry record showing the ownership and purchase price of the real estate
2. Mortgage deed (if any)
3. Extract of information on the Business Register(if the real estate is held through a sole proprietorship under the applicant's name)
4. Annual Return filed to the Companies Registry/The applicant's ownership proof from the official authority (if the real estate is held through a company of which the applicant is the sole shareholder)

CIES Investment Portfolio

1. Documentary evidence in certifying the amount invested by the applicant (if the applicant has placed HK$3 million into the CIES Investment Portfolio
2. Monthly statement of bank account/Bank passbook (if the applicant has deposited cash of HK$3 million to the designated account opened with his appointed financial intermediary for subsequent placing into the CIES Investment Portfolio)

Related Government Website links:

New Capital Investment Entrant Scheme Office
NEW CAPITAL INVESTMENT ENTRANT SCHEME
https://www.newcies.gov.hk/zh-hk/index.html

Immigration Department
NEW CAPITAL INVESTMENT ENTRANT SCHEME
https://www.immd.gov.hk/hkt/services/visas/newcies.html

Investment (to establish/join in business) Hong Kong Visa/Permit

Introduction

This is the entry arrangement for persons who wish to enter the Hong Kong Special Administrative Region (HKSAR) for investment under the General Employment Policy (GEP), i.e. to establish or join in business in the HKSAR.

Persons admitted for investment and have ordinarily resided in the HKSAR for a continuous period of not less than 7 years may apply for the right of abode in the HKSAR in accordance with the law.

Eligibility Criteria

• there is no security objection and no known record of serious crime in respect of the applicant
• the applicant has a good education background, good technical qualifications, proven professional abilities and/or relevant experience and achievements supported by documentary evidence may also be accepted; and
• the applicant is in a position to make substantial contribution to the economy of the HKSAR
  

This entry arrangement does not apply to

• Chinese residents of the Mainland;
• Nationals of Afghanistan, Albania, Cambodia, Cuba, Laos, Korea (Democratic People's Republic of), Nepal and Vietnam.

Sponsor in Hong Kong

To apply for entry for investment, the applicant must nominate a local sponsor. A local sponsor can either sponsor the applicant as a company or an individual. If the sponsor is an individual, he/she should be:

• of the age of 18 or above;
• a bona fide Hong Kong resident; and
• acquainted with the applicant.

Extension of Stay

Persons who have been admitted for investment are allowed to remain in the HKSAR on employment status. They may apply for extension of stay for investment in the HKSAR within 4 weeks before their limit of stay expires. Such applications will be considered only when the applicants continue to meet the eligibility criteria for entry for investment. Extension of stay, if approved, will normally follow the 2-2-3 years pattern.

Entry of Dependants

Applicants admitted for investment may apply to bring in their spouse and unmarried dependent children under the age of 18 to the HKSAR under the prevailing dependant policy. Persons admitted or applying for admission for investment will be the sponsors of their accompanying dependants to the HKSAR. An application for admission of a dependant may be favourably considered if:

• there is reasonable proof of a genuine relationship between the dependant and the sponsor;
• there is no known record to the detriment of the dependant; and
  the sponsor is able to support the dependant's living at a standard well above the subsistence level and provide him/her with suitable accommodation in the HKSAR.

This entry arrangement does not apply to:

• former Mainland Chinese residents residing in Macao who have acquired residence in Macao through channels other than the One-way Permit Scheme; and
• nationals of Afghanistan, Albania, Cuba and Korea (Democratic People's Republic of).

Documents to be Submitted

• Photocopy of the applicant's travel document
• Photocopy of proof of academic qualifications and relevant working experience
• Detailed 2-year investment plan
• Photocopy of Business Registration Certificate and business registration

It will normally take four weeks to process the application, the submitted documents must be written in CHINESE or ENGLISH

For more detail please visit the Immigration Department's homepage at :

www.immd.gov.hk.

IRD -
http://www.ird.gov.hk/index.htm

Australia Consulate-General, Hong Kong - http://www.hongkong.china.embassy.gov.au/

Enquiry :(852)2187 2616

The Hong Kong investment immigration laws were amended with effect from 15 January 2015, so that the above information is only apply for the application submitted on or before 14 January 2015.