Hong Kong Investment Visas - How it Works, Features of the Program

Obtaining residence permits, residence permits or citizenship for investment is a popular practice among many countries. The state receives an injection of foreign capital and economic development, while the investor gets the status of temporary or permanent resident and related privileges.

In our reviews, we have repeatedly covered the investment programs of European countries, Vanuatu, Turkey, Caribbean countries, and Egypt. In the new material, let's talk about the updated Hong Kong investment visa program, which started working again on June 21, 2024. Previously, the Hong Kong Capital Investment Entrant Scheme (CIES) investment program was stopped in 2015 and was on pause for a long time.

Who would be suitable for Hong Kong? This destination will interest those who are looking for the best option to enter the Asia-Pacific market. Today it is one of the largest financial and business centers, known throughout the world. In order to reside in Hong Kong for a long time, have the right to conduct business, rent housing and offices, and officially hire local and foreign specialists, it is necessary to obtain a special migration permit.

For all the purposes mentioned above, a long-term Investment (to establish/join in business) visa is the most suitable. After 7 years, the permit holder can apply for permanent residence. In the fresh review, we will talk about the advantages of Hong Kong investment visas, the requirements for participation in the program, how to increase the chances of approval, and other important points.

5 reasons to get a Hong Kong investment visa

Hong Kong (Hong Kong Special Administrative Region) is a real state within a state, a bustling thriving metropolis. In this isolated Chinese district, different directions of Eastern and Western traditions have mixed in a surprising way. Its own legal system is implemented and successfully works here. The city is actively developing and building, attracting potential residents and businessmen with a loyal tax climate and wide business opportunities.

Today Hong Kong, along with Dubai, has become one of the largest financial centers with a developed world-class infrastructure. There is a progressive open economy, clear market regulation, and compliance with the law - it is a powerful market for any company. What advantages does an investor receive together with a Hong Kong visa:

1. Ability to travel freely. Hong Kong is located in the center of Asia, and from here it is easy to fly to China, Thailand, Japan, and other Asian countries. The international airport in Hong Kong is one of the largest in the world, the annual passenger traffic is about 63 million people. Direct flights will take you to Amsterdam, Paris, London, and other major European metropolitan areas. In Hong Kong itself, it is allowed to spend a limited period without a visa. Up to 90 days are allowed for citizens of Canada, Japan, the United States, and Australia, as well as some European countries. Passport holders from South Africa, Thailand, Russia, and the Caribbean can stay in Hong Kong for up to 30 days.   
2. Tax optimization. In the jurisdiction of Hong Kong is not provided for the payment of VAT, and customs duties, there is no taxation on real estate, dividends, and capital gains. Individuals are charged income tax at a flat rate of 15%. Corporate tax is paid at a progressive rate: profits up to HK$2,000,000 are taxed at 8.25%, above this threshold - 16.5%
3. Easy adaptation. If you have a good command of English, it will be quite comfortable to live in Hong Kong. All signs and advertisements here are in Chinese and English. The city has many restaurants with different cuisines of the world. The region itself is dynamic and modern, where hundreds of skyscrapers organically neighbor wildlife and tropical forests. The locals are quite friendly and will help if necessary - they will give you directions, help you out, and explain. Hong Kong has a high level of security and strict observance of laws.
4. Developed business environment. Nowadays Hong Kong has become a concentration of various companies, IT corporations, and and offices of international firms. Here it is easy and comfortable to find new partners for business expansion among European or Asian citizens. Hong Kong regularly hosts major international forums, exhibitions, seminars, and conferences. Branches of large international banks, insurance firms, and investment companies operate in the city.
5. Neighborhood with nature. Despite the size of Hong Kong and active development, the city does not turn into a classic “stone jungle”. There are numerous parks and forests, and even the roofs of houses and office centers are planted with greenery. 

The current investment visa program

From 2024, after the unfreezing of the program, the authorities will accept applications from investors for residence permits under the Capital Investment Entrant Scheme (CIES). To participate, applicants must prove ownership of assets worth HK$30,000,000 or more, equivalent to approximately $3,860,000 (the amount may fluctuate depending on the exchange rate). The investment must be retained in ownership for 2 years prior to the date of application.

To visit Hong Kong, you need to apply for a visa through the Immigration Department. The permit is valid for 180 days. During this period, it is necessary to come to the city and fulfill the investment obligation. After that, it will be necessary to provide the receiving party with proof of fulfillment of the investment. The Immigration Department checks the investor's application and gives the final verdict. 

To obtain residency status, it is necessary to:

1. Invest HK$27,000,000 or more in the purchase of real estate or financial assets: shares, certificates of deposit, subordinated debt, ownership interest in limited liability company funds registered under the Limited Liability Company Fund Ordinance, permitted collective investment schemes.
2. To invest HK$3,000,000 or more in the investment portfolio of the CIES Department to be established and managed by Hong Kong Investment Corporation Limited.

When buying a residential property, it is required that its value starts from HK$50,000,000. It is permissible for the selected property to be in the final stage of construction. It is allowed to buy an object that is used in parallel for other purposes. It can be a complex of apartments with a restaurant, store, pharmacy, and office. You can buy only one object. When buying non-residential real estate is allowed to choose several objects - commercial or industrial. There are no strict requirements for the cost. 

Important! As an investment contribution is counted not the entire amount, but a maximum of 10,000,000 HK$ value of any real estate objects. Let's say an investor buys a residential or commercial property worth HK$21,000,000. Only HK$10,000,000 will be counted as an investment. Another HK$17,000,000 will be required to buy securities or open a deposit account.

After receiving approval for a residence permit, the resident becomes a holder of a residence permit for a period of 2 years, which is allowed to be extended for 3 years 2 times. A total of 8 years is allowed to live in Hong Kong with this type of residence permit.

If a resident has lived in Hong Kong for 7 years continuously in the city, he is allowed to apply for permanent residency. After obtaining a Permanent Residence Permit, the investment can be sold to recover the investment. If the investor applies for permanent residency earlier, the renewal of the status will be denied. 
If the investor has spent less than 7 years in Hong Kong but continues to meet all the conditions for obtaining a residence permit, the investor is allowed to apply for unconditional residence. This status allows the investor to visit Hong Kong at any time and spend any period of time here. 

Program update in November 2024

The CIES investment program operated successfully in Hong Kong until 2015. At that time, the investment requirement was HK$10,000,000. Due to the surge in property values, the government decided to close the program. In 2024, the economic downturn in China had a negative impact on Hong Kong's economy. It was decided to restart the CIES program in order to attract foreign capital.

In November 2024, the program received another update - the lifting of the ban on the permit due to housing. Investment contribution to the purchase of residential real estate is now one of the grounds for registration of the “Golden Visa” of Hong Kong. The expansion of the list of assets became known in 2024.

The host country allowed foreign investors to invest personal capital in elite apartments to claim in this way the status of a resident. The innovation allowed not only to attract wealthy applicants but also to fix them to the local jurisdiction. Automatically, this turns new applicants into tax residents, as well as consumers of local goods and services. The changes were approved on November 17, 2024.

This is by no means the latest change to the current scheme, and the CIES scheme will be updated and amended as early as March 1, 2025. When analyzing a future applicant, the receiving party will take into account investments made by a qualifying private company registered in Hong Kong or abroad, wholly owned by the applicant.

Experts believe that such an update of the rules will make Hong Kong more attractive to wealthy foreign investors. At the same time, the rather high cost of Hong Kong real estate may become a serious “stop gap” for many potential applicants. 

The popularity of Hong Kong's Golden Visa

The program was launched about six months ago and, despite the high cost of participation, has already attracted increased attention of applicants. As of today, the Immigration Department has already received over 5,000 applications!

It is known that about half of the applicants have already met the strict financial requirements of the scheme by investing HK$30 million or more in the economy of the area. Of the 5,000 applicants, almost 90% have shown a net worth of HK$30 million or more in the 2 years prior to application - as required by the current legislation.

Today, experts are already talking about the high potential of Hong Kong's relaunched Golden Visa program. Between 2011 and 2015, the Hong Kong Immigration Department processed over 20,000 applications for the previous version of the CIES. There is every chance that the updated version of the program, despite the rather high requirements, will be even more popular. The popularity of CIES will help strengthen Hong Kong's position as a major financial center.  

Who can participate in the CIES program?

To apply for participation can:

• Citizens of the People's Republic of China who have obtained permanent resident status in any country.
• Chinese citizens with permanent residency in Taiwan.
• Residents of the Chinese special administrative region of Macau.
• Foreign nationals

Under what conditions you can participate in the CIES program

A potential investor must meet the following requirements:

1. A full age of 18 years or older.
2. Have no visa refusals or negative immigration record.
3. Have net assets of HK$30,000,000 or more (or an equivalent amount in foreign currency) for 2 years prior to application.

An official spouse and minor children under the age of 18 - childless and single - are allowed to be included in the application.

How can I increase my chances of obtaining a Hong Kong investment visa?

Various related factors and conditions are taken into consideration when the receiving party reviews the applicant's case. The verdict of the Immigration Department is based on:

1. Whether the applicant has a working company in Hong Kong or any other country.
2. Whether the applicant has the necessary experience, education, and qualifications to successfully conduct business in Hong Kong.
3. The applicant's account balance of HK$1,000,000 or more, obtained legally and confirmed by bank statements - the account may be assigned to the company, or it may be a personal account of the applicant (card, deposit).
4. Submission of a detailed business plan covering a period of at least 1-3 years. The business plan should detail the first year by month and clearly argue the need for the applicant's permanent presence in Hong Kong. 
5. Availability of qualified staff, the bulk of which will be local residents. It is optimal to have most of the staff in place before applying for a visa, but it is also acceptable to employ at least one Hong Kong person in the first year of the visa authorization.
6. It will be optimal if the applicant provides evidence of a potential customer base that is already oriented towards purchasing the company's goods or services prior to the visa application. It will be a great advantage if the company can prove that it has a staff of suppliers.
7. Also in favor of the investor will testify the fact of a long-term lease of the office (from a year or more).

The listed conditions are guidelines that together will assist the investor in obtaining the desired Hong Kong Golden Visa.

Stages of obtaining a visa to Hong Kong

The procedure of obtaining a permit is divided into several mandatory stages. To increase the chances of obtaining a visa, minimize the risks, and reduce the time to complete all bureaucratic requirements, seek help from the specialists of the licensed agency GARANT.in:

1. The first step is to go through the procedure of registration of a legal entity and registration of a bank account in Hong Kong (10-30 days).
2. Together with a specialist prepare a migration dossier, correctly reflecting information about the business project and the applicant's identity. Correct submission of information significantly increases the chances of approval. For this purpose, a preliminary analysis of the migration dossier is carried out, on the basis of which a conclusion is made about the chances of obtaining an investment visa.
3. After successful analysis of the dossier, it is necessary to collect and prepare all documents for submission. The dossier includes the personal papers of the applicant and documents of persons who are financially dependent on the investor. The package of documents includes the papers of the company opened in the country where the applicant resides - bank statements, founding documents, invoices, declarations for the tax authorities, and contracts. All documents should confirm that the company is real, working, and making a profit. The agent checks the filling of the dossier, fills out-migration forms, prepares cover letters, and gives them for translation and notarization.   
4. The ready package of documents is submitted to the Hong Kong Immigration Department. The receiving party checks all the submitted papers, analyze the information, and may ask clarifying questions. In some cases, the agent can answer, but sometimes the questions are addressed to the applicant personally. Based on the information received, the officer makes a conclusion about the visa, which is finally approved by the management of the department. After that, the responsible authority sends a notification to the foreign national about the issued right to conduct the declared activity in the territory of Hong Kong. Additionally, the visa itself is issued (a sticker that is pasted into the applicant's passport). After payment of the state fee, the applicant is given the sticker to the postal address or sent to an agent.
5. The applicant can then travel to Hong Kong to apply for a residence permit card. The visa sticker on the passport is used to enter the area. The visa will be activated at the time of crossing the border. The resident card, once applied for, will be issued in 15-20 days.

Features of obtaining a Hong Kong residence permit

The primary residence permit is issued for a period of 2 years. After 7 years of permanent residence in Hong Kong, the resident can apply for permanent residence status. After approval of permanent residence status, assets can be sold - and disposed of at personal discretion. 

To obtain citizenship, one must marry a Hong Kong citizen or be of ethnic Chinese descent. There are no other ways for foreign citizens yet. 

Friends, if you are interested in the possibility of obtaining a Hong Kong residence permit for investment and you want to assess your chances for a successful outcome of the case, we invite you to a consultation. Our experts will comprehensively study your question in order to formulate an optimal strategy that will solve your request with a minimum of effort. We will help with any migration issue, outline the first steps, and control the process at every stage. For our part, we guarantee maximum assistance for a positive resolution of your issue.