Hong Kong Capital Investment Entrant Scheme (CIES) Explained
最終更新日: 2026年6月3日
Hong Kong re-introduced the Capital Investment Entrant Scheme (CIES) on 1 March 2024, requiring a HKD 30 million portfolio held for at least two years. The 2026 application window is open with the same threshold.
Last updated: June 3, 2026
Who Can Apply
Principal applicants must satisfy five conditions:
- Nationality: foreign nationals except Afghanistan, Cuba, or Democratic People’s Republic of Korea. Chinese nationals qualify only if they also hold foreign permanent residence.
- Net assets: HKD 30 million or more held worldwide for the 24 months immediately before the application date.
- Clean criminal record in all countries of residence during the past 10 years.
- Age: 18 or older.
- Genuine intention to reside in Hong Kong.
Dependants (spouse and unmarried children under 18) can be added to the same application.
Eligible Investment Assets (2026)
CIES permits only four asset classes, all denominated in Hong Kong dollars and traded or issued locally. Real estate, private equity, crypto-assets, and offshore funds are explicitly excluded.
Asset Class | Examples & Restrictions |
|---|---|
Hong Kong-listed equities | Shares, REITs, ETFs listed on HKEX main board or GEM; must appear on the latest SFC “Eligible Securities for CIES” list updated 2 March 2026 |
Government or Exchange Fund bonds | HKD-denominated bonds issued by the HKSAR Government or the Exchange Fund; minimum residual maturity not specified |
Certificates of deposit | Issued by an authorised institution (licensed bank, restricted licence bank, or deposit-taking company) with original maturity ≥ 12 months |
Subordinated debt | Issued by authorised institutions and recognised by the HKMA |
The portfolio must be held through a segregated client account opened with a licensed Hong Kong financial intermediary regulated by the SFC for Type 9 (asset management) activity.
Document Checklist
Applicants upload scanned colour PDFs through the Immigration Department’s e-service portal. Each file ≤ 5 MB.
Proof of net assets (all dated within 3 months of submission)
- Bank statements covering every month of the preceding 24 months.
- Audited financial statements for privately-held companies (if used).
- Property valuation reports from a HKIS-registered surveyor (if used).
- Precious metals or collectibles valuation by an accredited appraiser (if used).
Personal documents
- Passport bio-data page and all used pages.
- Birth certificate or household register (for Chinese nationals).
- Marriage certificate (if adding spouse).
- Birth certificates for each child dependant.
- Police clearance certificates from every country in which the applicant has lived for 12 months or more during the past 10 years.
Investment-related documents
- Letter of appointment of a licensed Hong Kong financial intermediary (Type 9 licence copy attached).
- Custody agreement showing segregated CIES account.
- Initial portfolio statement showing HKD 30 million invested in eligible assets.
Step-by-Step Application Process
- Pre-approval asset verification
Open the segregated account with a licensed intermediary and place HKD 30 million into eligible assets. Obtain a certified portfolio statement. - Online submission
Log in to the Immigration Department e-service and complete form ID(CIES)1. Pay the non-refundable fee of HKD 1,200 (plus HKD 230 per dependant) by credit card or PPS. - Acknowledgement
Receive an acknowledgement email with a reference number within 24 hours. - Document review
The Immigration Department may request further documents within 60 days. Upload any additional items through the same portal. - Approval-in-Principle (AIP)
If approved, receive the AIP letter by courier. The 2-year investment holding period starts from the AIP date. - Entry visa label
Submit passport for the entry visa label at a Chinese diplomatic mission overseas or at the Immigration Department in Hong Kong if already in town. - Landing in Hong Kong
Activate the visa within 6 months of AIP. Open a Hong Kong bank account if not already done.
Fees, Processing Time & Renewals
Item | Amount (HKD) | Notes |
|---|---|---|
Application fee | 1,200 per principal | Non-refundable |
Dependant fee | 230 per dependant | Same transaction |
Portfolio management | 0.5 - 1.0 % p.a. | Negotiated with intermediary, not paid to Immigration |
Processing commitment: 80 % of complete applications within 6 months, up to 9 months for the remainder.
Visa renewals and permanent residence
Stage | Duration | Conditions |
|---|---|---|
Initial visa | 24 months | Maintain HKD 30 million portfolio; live in Hong Kong for most of the period |
First renewal | 36 months | Submit Form CIES-4 showing portfolio still meets rules; no minimum stay days specified but continuous residence expected |
Second renewal | 36 months | Same evidence |
Permanent residence | After 7 continuous years | Apply via Form ROP145; must show physical presence for at least 2 years out of the last 3 |
Common Pitfalls to Avoid
- Asset drift: Any switch between eligible assets is allowed, but the portfolio must always total at least HKD 30 million. If market losses push the value below the threshold, inject fresh funds within 14 days or risk visa cancellation.
- Custodian errors: Only Type 9 licensed intermediaries may certify the portfolio. Double-check the licence expiry date on the SFC public register.
- Document date gap: Bank statements and valuations must be no older than 3 months at the moment of upload, not at the moment of original issue.
- Children ageing out: A child who turns 18 between submission and landing becomes ineligible. Re-calculate age at the time of AIP if the timeline stretches.
- Missing quarterly reports: Intermediaries must file a portfolio report every quarter and within 14 days of any material change. Failure to file triggers a departmental inquiry.
Frequently Asked Questions
Can I use margin financing?
No. The rules require beneficial ownership of the entire HKD 30 million. Pledged or leveraged positions disqualify the application.
Is dual citizenship accepted?
Yes, as long as one citizenship is outside the excluded list. You must enter Hong Kong on the passport declared in the application.
What happens if the market crashes?
You must top up the portfolio to restore the HKD 30 million mark. Temporary dips below the threshold are tolerated only if restored within 14 days.
Can I invest through a family office?
Only if the family office holds an SFC Type 9 licence and the underlying assets are segregated under your name.
Does time spent outside Hong Kong for business break continuity?
Extended absences can jeopardise the 7-year residence requirement for permanent residence. Keep trips under 6 months per absence and retain proof of Hong Kong as the centre of life (lease, utility bills, tax filings).
Are dividends and coupon payments locked in?
No. Income generated by the portfolio can be freely remitted or reinvested, as long as the principal value stays at or above HKD 30 million.
Can I apply while already in Hong Kong on a tourist visa?
Yes, you may switch status without leaving. File the application online and remain in Hong Kong until the AIP is issued.
What if my intermediary loses its licence?
Transfer the portfolio to another licensed intermediary within 30 days and file a change-of-intermediary notice using Form CIES-5.
If you are relocating under CIES and want to follow Hong Kong financial news in both English and Chinese, Migaku lets you turn real market reports into interactive study material.