Timson Immigration
 
 
 
 
 
 
 
 
 
  New Capital Investment Entrant Scheme
 
1. Scheme Overview
 
In the latest "The Chief Executive's 2023 Policy Address" announced on December 19, Chief Executive Lee Ka-chiu, has outlined the implementation of the "New Capital Investment Entrant Scheme"( "New CIES" ) Qualified investors who invest HKD 30 million or more in assets such as stocks, funds, and bonds (excluding real estate) in Hong Kong will be eligible to apply for entry into Hong Kong through the scheme. This initiative aims to enhance Hong Kong's advantages in asset and wealth management, financial, and related professional services. And the Government aims to officially launch the New CIES and invite applications in mid-2024.
 
 
2. Application Requirements
 
  • Investment Amount: Applicants must invest at least HKD 30 million.
  • Age Requirement: Applicants must be 18 years old or above.
  • Nationality Requirement: Chinese nationals, Chinese nationals who have obtained permanent resident status in a foreign                                                                country, Macao Special Administrative Region residents and Chinese residents of Taiwan
  • Asset Requirement: Applicants must have net asset of no less than HKD 30 million to which he/she is absolutely                                                                  beneficially entitled throughout the two years preceding the application.
  • Non-Criminal Record.
 
 
3. Permissible Investment Assets under the new Capital Investment Entrant Scheme
 
An applicant must make an investment of a minimum of HK$30 million in the permissible investment assets, including investing a minimum of HK$27 million in the permissible financial assets and non-residential real estate, and placing HK$3 million into the new CIES Investment Portfolio. 
 
1. Permissible financial assets
 
a.Equities - shares of companies that are listed on the Stock Exchange of Honga Kong (SEHK) and traded in Hong Kong             Dollars (HKD) or Renminbi (RMB);
b.Debt securities -
(i) debt securities listed on the SEHK and traded in HKD or RMB (including1)debt instruments issued in Hong Kong           by the Ministry of Finance of China and local people's governments at any level in the Mainland);
(ii) debt securities denominated in HKD or RMB, including fixed or floating6rate instruments and convertible bonds              issued or fully guaranteed by
  (A) the Government, the Exchange Fund, the Hong Kong Mortgage Corporation, the MTR Corporation Limited,
        Hong Kong Airport Authority, and other corporations, agencies or bodies wholly or partly owned by the                  Government as may be specified from time to time by the Government; or
  (B) listed companies referred to under item (a) above;
c.Certificates of deposits - certificates of deposits denominated in HKD or RMB issued by authorized institutions as defined         in the Banking Ordinance (Cap. 155)with a remaining term to maturity of not less than 12 months at the time of purchase,         subject to a cap of 10% of the minimum investment threshold (i.e.HK$30 million);
d.Subordinated debt - subordinated debt denominated in HKD or RMB issued by authorized institutions in compliance with          Schedules 4B and 4C to the Banking(Capital) Rules (Cap. 155L);
e.Eligible collective investment schemes -
  (i) Securities and Futures Commission (SFC)-authorised funds managed by corporations licensed by or institutions               registered with the SFC for Type 9 regulated activity; 
  (ii) SFC-authorised real estate investment trusts managed by corporations licensed by or institutions registered with              the SFC for Type 9 regulated activity; 
  (iii) SFC-authorised Investment-Linked Assurance Schemes issued by insurers permitted to carry on Class C business             as specified in Part 2 of Schedule 1 to the Insurance Ordinance (Cap. 41); 
  (iv) open-ended fund companies registered under the Securities and Futures Ordinance (Cap. 571) and managed by                 corporations licensed by or institutions registered with the SFC for Type 9 regulated activity;  
f.Ownership interest in limited partnership funds registered under the Limited Partnership Fund Ordinance (Cap. 637); and
g.Non-residential real estate: Non-residential real estate, whether commercial and/or industrial (including pre-completion           properties and excluding land) in Hong Kong, subject to a cap of HK$10 million.
 
2. New Capital Investment Entrant Scheme Portfolio
 
The Portfolio will be set up and managed by the Hong Kong Investment Corporation Limited to make investments in companies/projects with a Hong Kong nexus, with a view to supporting the development of innovation and technology industries and other strategic industries that are beneficial to the long-term development of Hong Kong's economy.
 
4. Extension of stay
 
Once the application is approved, the applicant may bring their dependents, including their spouse and unmarried children under the age of 18, to Hong Kong. Generally, they will be granted a stay in Hong Kong for a period not exceeding two years. Upon the expiry, they may apply for an extension of stay for a period not exceeding three years. Subsequently, they can apply for further extensions of stay for a period not exceeding three years at the end of each three-year period. (i.e., 2+3+3)
 
If the applicant and their dependents have continuously resided in Hong Kong for not less than seven years, they may apply for permanent residency in Hong Kong according to the law. If the applicant fails to meet the requirement for continuous ordinary residence in Hong Kong but has continuously met the financial requirements of the new scheme for not less than seven years, they may apply for an Unconditional Stay in Hong Kong.
 
Once the application is approved, the applicant is free to dispose of the assets they have invested.
 
 
5. Documents and Procedure (Only for reference before the "New CIES" release)
 
 1. Required documents include:
 
(a)Certified copy of current passport(s)〈Applicant and Dependants〉;
(b)Certified copy of current national identity card(s)〈Applicant and Dependants〉;
(c)Overseas Permanent Residence status documents〈Applicant and Dependants〉;(if applicable)
(d)Original police certificate(s);〈Applicant and Dependants over 16 years old〉;
(e)Original notarization of full birth record
(f)Original notarization of medical birth certificate ;
(g)Original excerpt of marriage record or certified copy of marriage certificate(s)certificate;
(h)Original passport-size photos taken within the past 6 months〈Applicant and Dependants〉;
(i)Home address, telephone number, qualifications, professional qualifications, work experience and relevant certificates              〈Applicant and Dependants〉.
 
 2. Normally, if all the documentations are complete and the Applicant meets the other requirements of the Program, the Hong Kong         Immigration will grant approval-in-principle to the Applicant in 3 to 6 months after the application is submitted.
 
 3. After receipt of approval-in-principle, the applicant has to materialize the business plan. Final approval will be given to the                   Applicant upon satisfactory materialization of the business plan by the Applicant.
 
 4. The Applicant and his/her Dependants will be granted initial visas for two years after final approval is given. They can apply for         visa extension on a 3-3 years basis before the expiry of these visas, if they can meet the requirements for visa renewal.

 5. Upon completion of a continuous period of ordinary residence in Hong Kong for not less than seven years, the applicant and his           dependants may apply for the right of abode in Hong Kong, Hong Kong permanent identity card and Hong Kong Passport.
 
 
 
Note: This document is for reference only, all terms are subject to written contract.