Hong Kong enhances New Capital Investment Entrant Scheme

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The enhancement measures include the relaxation of the net asset assessment and calculation requirements, effective 1 March 2025.

The Financial Services and the Treasury Bureau and Invest Hong Kong has announced the details of various enhancement measures for the New Capital Investment Entrant Scheme (New CIES).

The enhancement measures have not only relaxed the net asset assessment and calculation requirements, but also allowed investments made through an eligible private company wholly owned by an applicant to be counted towards the eligible investment.

Details of the enhancement measures are as follows:

• An applicant under the New CIES is only required to demonstrate that he/she has net assets or net equity to which he/she is absolutely beneficially entitled with a market value of not less than HK$30mn net throughout six months (two years before the enhancement) preceding the application;
• Net assets or net equity jointly owned with the applicant's family member(s) can now be taken into consideration for the calculation of the net asset requirement (NAR) for the respective portion which is absolutely beneficially entitled to the applicant;
• Investments made through an eligible private company wholly owned by an applicant will be counted towards the applicant's eligible investment in the New CIES.

The enhancement measures will take effect from 1 March 2025.

Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, believed these measures will encourage more investors to join the scheme and can create synergy with the tax concession regime for family offices, thereby promoting the development of family office businesses in Hong Kong.

“We are committed to providing comprehensive support for family office decision-makers to establish themselves in Hong Kong, further attracting global asset owners and reinforcing Hong Kong's leading position as an international asset and wealth management hub," he said.

Alpha Lau, Hong Kong's Director-General of Investment Promotion, revealed that over 800 applications have been received in the first 10 months since the launch of the New CIES on 1 March 2024. Out of these applications, 733 have fulfilled the NAR, while 240 have fulfilled the investment requirements.

The scheme is expected to bring over HK$24bn into Hong Kong.

Photo / InvestHK