Finally After Much Anticipation, The New Capital Investment Entrant Scheme Is Launched Today
A Comprehensive Government Website Available To Service Users
Official Sources
The HKSAR Government website has a comprehensive collection of pro-forma questions on the technical aspects of how the New Capital Investment Entrant Scheme programme (“NCIES”) programme works – and you can find the answers to their FAQs here on …
- Application Procedures.
- Eligibility Requirements.
- Net Asset Requirements.
- Investment Requirements.
- Eligible Collective Investment Schemes.
- Limited Partnership Funds.
- Eligible Financial Intermediaries.
- Change in Investment Portfolio.
- Impact on the Old CIES Programme.
Summary Of The NCIES Programme
To apply for the NCIES visa, applicants must first verify their Net Asset Requirement with InvestHK, which, upon satisfaction, issues a certifying proof and notifies the Immigration Department.
Applicants must then submit their NCIES visa application to the Immigration Department within the certifying proof’s validity period. If given Approval-in-Principle, applicants are granted a visa/entry permit to enter Hong Kong and make the required investment within 180 days.
Following investment verification by InvestHK, Formal Approval may be granted, allowing the applicant and dependants, if any, to stay for up to 24 months, subject to continuous compliance with the scheme’s requirements.
Extensions of stay require verification of continuous compliance with the Portfolio Maintenance Requirements by InvestHK before application to the Immigration Department.
The NCIES programme allows for extensions of stay for up to three years, following the same application procedures.
The NCIES programme is open for applications year-round, with the InvestHK NCIES Office located in Wan Chai.
Applications can be submitted by post or in person, with necessary documents including application forms and supporting documents verified by a Certified Public Accountant.
Progress inquiries can be made via hotline or email.
Eligibility for the Scheme extends to the applicant’s dependants, allowing for work, office-holding, self-employment, or business engagement in Hong Kong.
Applicants residing in Hong Kong under other Schemess can also apply.
Continuous ordinary residence of not less than seven years is required for acquiring Hong Kong permanent resident status, with specific investment requirements outlined for maintaining eligibility.
Investments must be in assets to which the applicant is beneficially entitled, with a minimum net value of HKD30 million.
Expenses incurred in acquiring, holding, and realising permissible investment assets do not count towards the investment threshold.
Investments must not be traded on a margin basis, and applicants can invest in non-residential real estate, subject to conditions.
The scheme mandates engagement with designated financial intermediaries, adherence to anti-money laundering and counter-terrorist financing requirements, and contractual agreements outlining obligations.
Applicants must report investments annually and upon request, with no requirement to top up investments in case of losses. Switching investment portfolios is allowed, provided the ring-fencing principle is adhered to.
The introduction of the NCIES visa does not affect applications and investments under the original scheme, which remains governed by its original criteria and rules.
The NCIES visa represents a structured approach to attracting and managing foreign investment in Hong Kong, with clear procedures for application, investment and compliance monitoring.
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