Hong Kong
Hong Kong New Capital Investment Entrant Scheme (New CIES)
Also known as: New CIES, HK CIES, Hong Kong Investor Visa
- Min investment
- $385K
- Program tier
- Renewable Temp
- Program type
- Investor Visa
- Initial validity
- 2 yr
- Renewable
- Yes
- Path to PR
- 7 yr
- Path to citizenship
- 7 yr
- Schengen access
- Yes
Investment options
Business Investment
$3.5MPermissible financial assets including listed equities, bonds, certificates of deposit, subordinated debt, eligible collective investment schemes. Maximum HKD 10M may be in non-residential real estate. HKD 27 million minimum across this bucket.
Fund
$385KMandatory CIES Investment Portfolio — HKD 3 million into the new CIES Investment Portfolio managed by Hong Kong Investment Corporation Limited (HKIC), focused on innovation, technology and strategic industries with Hong Kong nexus.
Physical presence
Path to citizenship
- Available: Yes
- Minimum years: 7
- Physical-presence years: 7
- Language test: No
After becoming PR, eligible applicants of Chinese descent may apply for Chinese nationality and the HKSAR passport. Non-Chinese-descent PRs typically retain home nationality and use HKSAR Document of Identity for travel.
Tax implications
- Becomes tax resident automatically: No
- Worldwide income taxed: No
- Territorial tax system: Yes
- Day-count for tax residency: 60 days
- Wealth tax: No
Hong Kong operates strictly territorial tax. Only Hong Kong-source income is taxed. Salary tax up to 17%, profits tax 16.5% (8.25% on first HKD 2M for SMEs). No capital gains tax, no dividend tax, no inheritance tax, no VAT, no wealth tax. Tax residency certificate available for treaty purposes.
Family inclusion
- Spouse: Yes
- Children under 18: Yes
- Dependent adult children: No
- Parents: No
Spouse and unmarried children under 18. Family members enjoy same visa/extension as principal. Parents not included.
Additional fees
- Application fee: $5K
- Government fees: $5K
- Legal/agent (est.): $30K
Application fee HKD 40,000 (non-refundable). Approval-in-Principle and Formal Approval each carry fees. Renewal fees HKD ~200 per ID extension. Legal/wealth-management fees substantial; portfolio management 0.5-1.5% annually.
Eligibility requirements
- Age 18+
- Net assets of HKD 30 million+ for 6 months preceding application
- Clean criminal record
- Source-of-funds documentation
- Investment via Hong Kong-licensed financial institution
Disqualifiers
- Sanctioned nationalities (Afghanistan, DPRK, Cuba — varies)
- Mainland Chinese citizens with foreign permanent residence restrictions
- Insufficient net asset documentation
Recent changes
- 2024-03-01
New CIES launched, replacing the old CIES that had been suspended since 2015. Minimum threshold HKD 30 million (up from HKD 10 million). HKD 3M mandatory CIES Investment Portfolio component added.
- 2025
Family Office track introduced — eligible Single Family Office structures may qualify with operational requirements.
- 2026-03-01
Private holding company option clarified — applicants may use an eligible private holding company set up <6 months for net-asset assessment, removing prior minimum incorporation period.
Notes
Hong Kong New CIES is among the most expensive RBI programs globally — HKD 30M (~USD 3.85M) net wealth and deployment required. Strong appeal for HNWIs wanting territorial-tax base, Greater Bay Area access, and a credible 7-year PR pipeline. Geopolitical risk and the political/legal trajectory of HK post-2020 National Security Law remain material concerns for some Western clients. As of April 2026 the scheme had received ~3,300 applications expecting HKD 95B+ inflows.
EasyPassport is a document-organization tool focused on citizenship by descent. This page is reference research, not legal or financial advice. Always verify with the official program authority.