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Globevisa has received an exciting update – on April 18th, one of our clients has received the first approval in principle for the new Hong Kong Capital Investment Entrant Scheme (CIES). This approval signifies a promising start for applications under the Hong Kong Capital Investment Entrant Scheme and highlights Globevisa’s professional expertise and efficient execution in the field of immigration services.
In fact, since the announcement of the reopening of the CIES in Hong Kong, Globevisa has received numerous inquiries from investors. Even before the official opening for submissions, Globevisa has meticulously prepared application materials for eligible applicants. Globevisa successfully submitted the applicants’ materials on the opening day, March 4th, and passed the asset review on March 27th. After swift coordination, the Certifying Proof for Fullfillment of Net Asset Requirement alongside with the whole set of application document were submitted to the Hong Kong Immigration Department on March 28th.
Finally, after 28 working days from the initial submission, the applicant became the first individual to receive the approval in principle on April 18th.
From left to right: Cover letter for Application to InvestHK dated March 4th, Certifying Proof for Fulfillment of Net Asset Requirement dated March 27th, Approval in Principle from the Hong Kong Immigration dated April 18th
The applicant was originally a Hong Kong Quality Migrant Admission Scheme permit holder. After the announcement of the reopening of the Hong Kong Capital Investment Entrant Scheme, in order to enhance flexibility during the seven-year period of visa renewal, he consulted Globevisa whether he could switch from talent visa to investor visa. Under the professional guidance of Globevisa, the applicant understood his idea was feasible and he provided a property under his name as asset proof. Through meticulous preparation and review of documents, the applicant successfully passed the rigorous screening by the Hong Kong Immigration Department, becoming the first applicant to receive approval in principle under the new Hong Kong investment policy.
The swift approval of the Hong Kong investment applicant not only showcases Globevisa’s extensive experience in the field of immigration services but also saves the client a significant amount of valuable time. Approval in principle is a crucial step in the application process for the Hong Kong Capital Investment Entrant Scheme. It signifies that the applicant’s personal documents have passed the initial review by the immigration department without any issues. Upon receiving approval in principle, the applicant can proceed with investments within 180 days.
Since the Hong Kong government explicitly announced its intention to restart the CIES last year, Globevisa has communicated with over 100 financial institutions in the market. Although investors are given 180 days for investment, under the previous investment policy, Globevisa’s clients typically completed their investments within an average of 2-3 months. With ample time available, it is believed that the Globevisa team, with its rich experience and professional guidance, can ensure clients successfully complete their investments and obtain Hong Kong residency smoothly.
In fact, the first applicant under the Hong Kong Investment Immigration Scheme completed their investment portfolio on the second day after approval. After submitting proof of the investment portfolio, they only need to wait 1-2 months for the Immigration Department to issue the formal approval letter, allowing them to proceed with obtaining a Hong Kong identity card upon arrival.
During the period of the previous Hong Kong investment policy, Globevisa has accumulated over 6,000 successful cases of investment immigration scheme. Over the years, Globevisa has consistently provided stable and reassuring after-sales service to its clients. Despite the closure of the previous investment policy for 8 years, Globevisa continues to receive over a dozen thank-you letters from clients who had invested under the previous policy, even until 2024.
Let’s take a look back at the escalating investment threshold of the Hong Kong Capital Investment Entrant Scheme. It has increased from HK$6.5 million in 2003 to the current HK$30 million. Of the HK$30 million investment, at least HK$3 million must be injected into government-approved innovative technology companies, while the remaining HK$27 million can be invested in various financial assets such as stocks, bonds, and non-residential real estate. The continuous raising of the threshold by the Hong Kong government indicates a high demand from investors seeking to immigrate through the Hong Kong Investment Immigration Scheme, prompting the government to restrict the influx of foreigners by raising the threshold.
For applicants interested in immigrating to Hong Kong, it is advisable to initiate the process as soon as possible. During the initial months of the new policy, there is less backlog in processing, which is advantageous for investors to obtain approval more quickly. Additionally, Globevisa needs to meticulously review whether the applicant possesses HK$30 million in assets and has held them for two years. Applicants also need to prepare investment portfolios in advance to facilitate early investments and approvals.
Source: Globevisa.com