Hong Kong — residence in Asia's leading international financial centre

A simple low-rate tax system, a deep capital market, a common-law legal system and direct access to the Mainland Chinese economy. The relaunched Capital Investment Entrant Scheme and the Top Talent Pass have re-opened Hong Kong as a viable destination for international families with the right profile.

Investment from
HKD 30 million (CIES)
Processing time
4–6 months (CIES) · 4–8 weeks (Top Talent Pass)
Family inclusion
Spouse and dependent children
Path to permanent residence
7 years ordinary residence

Programme overview

Hong Kong relaunched its Capital Investment Entrant Scheme (CIES) in March 2024 after a decade-long pause. The new scheme, administered by Invest Hong Kong (InvestHK), is materially more demanding than its predecessor and is explicitly targeted at high-net-worth individuals: applicants must demonstrate net assets of at least HKD 30 million and commit a minimum HKD 30 million to qualifying investments inside Hong Kong, of which HKD 3 million must flow to a dedicated CIES Investment Portfolio supporting the Hong Kong innovation ecosystem.

Alongside the CIES, the Top Talent Pass Scheme (TTPS), launched in late 2022, offers a fast-track residence permission to senior professionals and graduates of the world's top universities. It does not require an investment, but does require either a high recent income or a degree from a defined list of leading global universities. The TTPS is, in practice, the easier route for younger entrepreneurs and senior professionals who have not yet accumulated CIES-level wealth.

Hong Kong's strategic case is the depth of its capital markets, the predictability of its low-rate territorial tax system (corporate 16.5% / 8.25% for the first HKD 2m of profits, personal salaries tax capped at 15%, no capital gains tax, no estate duty), and its position as the principal international gateway to Mainland China.

Eligibility

  • CIES: aged 18 or above; net assets of HKD 30 million or above for the preceding 24 months; clean criminal record; ability to support self and dependants without recourse to public funds.
  • TTPS Category A: annual income of HKD 2.5 million or above in the year preceding application.
  • TTPS Category B/C: degree from an eligible top-100 university (defined list maintained by the Immigration Department), with relevant work experience or recent graduation.
  • Dependants: spouse and unmarried dependent children under 18 may accompany.
  • Nationality restrictions apply — most nationalities qualify, with specific restrictions for a small number of jurisdictions.

Investment thresholds

  • Permissible investments (CIES): minimum HKD 27 million across qualifying financial assets — equities listed on the Stock Exchange of Hong Kong, eligible debt securities, certificates of deposit, subordinated debt, eligible investment-linked insurance policies, and ownership/limited-partnership interests in eligible investment funds and limited partnership funds.
  • CIES Investment Portfolio: a further HKD 3 million contribution to a dedicated portfolio supporting Hong Kong's innovation and technology ecosystem.
  • Real estate: non-residential real estate may count up to HKD 10 million of the qualifying investment (residential real estate is not eligible, with limited exceptions).
  • Maintenance requirement: the qualifying investment must be maintained throughout the period of residence under the scheme.

Processing timeline

  1. Eligibility & route selection — 2–3 weeks to confirm CIES vs TTPS suitability based on family profile and timeline.
  2. Net-worth attestation — accountant's certified net-worth statement covering the qualifying 24-month period.
  3. Approval-in-principle — InvestHK reviews the net-worth file; approval-in-principle typically issued in 2–3 months.
  4. Investment commitment — the qualifying HKD 30 million is committed across permissible assets; supporting evidence submitted to InvestHK.
  5. Formal approval & visa — Immigration Department issues the residence visa; entry to Hong Kong; residence formalities.

Benefits

  • Residence in Asia's leading international financial centre, with full access to the Hong Kong banking and capital markets.
  • Low-rate, territorial tax system: salaries tax capped at 15%, no capital gains tax, no estate duty, no VAT.
  • Common-law legal system, English as a working language, and an independent judicial system.
  • Direct connectivity to Mainland China via the Greater Bay Area framework, and global air-hub status (Hong Kong International Airport).
  • Path to permanent residence after seven years of ordinary residence — at which point Hong Kong permanent identity card is issued and the right of abode is granted.
  • Dependants — spouse and unmarried children under 18 — may accompany and access Hong Kong education and healthcare.

Tax considerations

Hong Kong operates a territorial tax system: only income arising in or derived from Hong Kong is generally taxable in Hong Kong. There is no capital gains tax, no withholding tax on dividends or interest paid to non-residents (with limited exceptions), and no estate duty. Salaries tax is capped at 15% (the standard-rate basis) for high earners. For internationally mobile families with non-Hong Kong-sourced investment income, the tax position is among the most accommodating of any major financial centre.

The interaction between Hong Kong tax residence and the principal's existing tax residence is the key question. China's worldwide-tax regime for residents, the Common Reporting Standard, and the relevant double-tax treaties all need to be considered together. Ovata works alongside named Hong Kong tax counsel from the outset.

This is orientation, not advice. The Hong Kong / China / source-country tax interaction is technical, and qualified local counsel is essential.

Our process for Hong Kong

  1. Initial consultation — confirming CIES vs TTPS suitability and the family's broader Hong Kong / Asia strategy.
  2. Net-worth attestation — Ovata coordinates with the family's accountants to prepare the certified net-worth statement covering the 24-month qualifying period.
  3. Investment design — working with Hong Kong investment counsel, we structure the HKD 30 million qualifying portfolio across permissible asset classes.
  4. Application assembly — Ovata coordinates the file with named Hong Kong immigration counsel.
  5. Submission & liaison — Hong Kong counsel files with InvestHK and the Immigration Department; Ovata project-manages the review.
  6. Settlement & ongoing support — banking introductions, schools, the seven-year ordinary-residence calendar, and ongoing portfolio compliance.

Frequently asked questions

Can I include residential real estate in the qualifying investment?

Generally no — the relaunched CIES excludes residential real estate from qualifying investments, with very limited transitional exceptions. Non-residential commercial property may count up to HKD 10 million of the qualifying investment.

What is the minimum stay requirement under the CIES?

There is no specific minimum-stay requirement under the CIES, but applicants seeking permanent residence after seven years must demonstrate Hong Kong as their place of "ordinary residence" — which is more demanding than nominal presence and requires genuine settlement.

How does CIES interact with the Top Talent Pass?

The two are alternative routes. Younger professionals with a top-100 university degree (or high recent income) may find TTPS materially faster and cheaper. Wealthier applicants who do not meet TTPS criteria typically use CIES.

Can I work in Hong Kong under the CIES?

Yes. Holders of the CIES visa are permitted to live, work and study in Hong Kong, and to establish or join a business.

Next step

Speak with us about Hong Kong.

The relaunched CIES is more demanding than its predecessor — a short call is the best way to test whether the family profile fits.