Over 900 applications received for HK's New CIES, potential to attract HK$27 bn

Hong Kong's "New Capital Investment Entrant Scheme" (New CIES), launched in March 2024 to attract new capital and diversify talent, has received a total of 918 applications as of February 2025, according to Christopher Hui, Secretary for Financial Services and the Treasury.

Hui revealed that 868 applications have undergone net asset vetting, while 386 have completed investment requirement assessments. The Immigration Department has issued "in-principle approvals" for 756 applications, allowing applicants to make the required investments as visitors. 341 applications have received formal approval.

If all applications are approved, the scheme could potentially bring over HK$27 billion in investment to HK.

Under the scheme, applicants are required to invest at least HK$30 million in eligible assets. This includes a minimum of HK$27 million in approved financial assets and/or real estate (capped at HK$10 million), along with HK$3 million in the newly established "CIES Investment Portfolio."

As of February 2025, none of the 386 completed investment requirement applications has included investments in residential real estate, according to Hui.

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