Over 100 applications from around the world have been received since the launch of the Capital Investment Entrant Scheme to invest and reside in Hong Kong.
 
Assistant director of Immigration Simon Peh said 101 applications had been received since the launch on October 27 and nine applications had been approved. The successful applicants are from Canada, US, Indonesia, Spain, Taiwan and two Chinese nationals who are permanent residents of New Zealand and the Philippines.  

They bring in a total of  $62 million (US$8 million) - $19 million (US$2.4 million) invested in property and $43 million (US$5.5 million) in financial assets.

Under the investment scheme, applicants must invest $6.5 million (US$835,000) in property or financial assets - or a combination of both - and the money must remain invested in Hong Kong for seven years.

Successful applicants will be allowed to bring in their spouses and unmarried dependent children under 18 years of age. After seven years of continuous residence in Hong Kong, they can seek right of abode.

Mr Peh explains the need for the Capital Investment Entrant Scheme: "As an international and regional financial centre, Hong Kong houses over 3,100 headquarters or regional offices of multinational firms and major enterprises. Apart from corporations, many individual investors are interested to reside in Hong Kong and make investments here."

"We believe Hong Kong's low tax rate, good law and order, and strategic location as the gateway to China will attract quality investors to join the scheme, especially those coming from developing countries," added Mr Peh.

More details at www.immd.gov.hk
 
Enquiries can also be directed to the Chief Immigration Officer of the Other Visas and Permits Section at telephone (852) 2829 3232 or at enquiry@immd.gov.hk