Revolutionizing Residency: A New Era for Investors

Starting March 1, Hong Kong will implement the New Capital Investment Entrant Scheme, a groundbreaking initiative designed to attract high-net-worth individuals by offering residency in exchange for a HKD30 million (US$3.9 million) investment. This move aims to inject HKD24 billion into the local economy, providing a much-needed boost.

Who Stands to Benefit?

According to Christopher Hui, Secretary for Financial Services and the Treasury, the scheme has already drawn significant interest from business elites and innovative entrepreneurs. Over 800 applications have been received, with 733 applicants showcasing assets exceeding the HKD30 million threshold.

Streamlining the Process

In a bid to make the scheme more accessible, the government has reduced the required asset holding period from two years to just six months before application. This adjustment is expected to encourage more investors to participate, further stimulating economic growth.

Looking Ahead: The Future of Family Offices in Hong Kong

With more than 2,700 single-family offices based in the city as of 2023, Hong Kong is setting its sights on becoming a global hub for family offices. Chief Executive John Lee has set an ambitious target to establish 200 large family offices by 2025, leveraging the new investment scheme and tax concessions to achieve this goal.