New Arrangement on Capital Investment Entrant Scheme

For more information, please contact:
Melissa Ng / David Hsieh at 212-752-3320
Daniel McAtee at 202-238-6360
Wing Yan Tong at 415-835-9315

March 13, 2009 - Hong Kong’s Immigration Department today announced that from March 16, a new arrangement would be implemented to shorten the processing time of applications submitted under the Capital Investment Entrant Scheme.

According to the rules, applicants have to meet eligibility criteria, including that they have net assets or net equity to which they are absolutely beneficially entitled with a market value of not less than HK$6.5 million (US$833,333) net throughout the two years preceding the date the application was lodged.

Under the new arrangement, applicants may hire a Certified Public Accountant (Practising) who is a member of the Hong Kong Institute of Certified Public Accountants to issue a report to demonstrate that they meet the assets requirement.

“This is an optional arrangement and whether or not a practising CPA is engaged will not affect the outcome of the application," an Immigration Department spokesman said. "The new arrangement, which also applies to applications submitted before the implementation date, will significantly reduce the processing time of applications.”

For enquiries, please contact the Immigration Enquiries Hotline at (852) 2824-6111 or the Other Visas and Permits Section of the Immigration Department at (852) 2829-3232. For information on CPA firms in Hong Kong, please visit http://www.hkicpa.org.hk/membership/list/cpa/index.php.