Hong Kong’s Investor Visa Draws 1,500 Applicants, HK$21 Billion in Investments

Moustafa Daly
Cairo

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Recent policy changes boost Hong Kong’s NCIES applications and approvals as officials project HK$30 billion in inflows by year’s end.

Hong Kong’s New Capital Investment Entrant Scheme (NCIES) has attracted over HK$21 billion (US$2.7 billion) since its March 2024 relaunch. InvestHK has approved 673 applications out of 1,548 submissions under the NCIES.

Between March 2024 and February 2025, InvestHK processed 918 applications and approved 341, maintaining an average of 31 approvals per month. After the government eased the eligibility requirements in March 2025, InvestHK reviewed 339 applications between March and April and approved 171, more than doubling the monthly approval rate.

The NCIES requires applicants to invest at least HK$30 million (US$3.8 million) in eligible assets, such as stocks, bonds, or funds regulated by the Securities and Futures Commission.

Officials report that Securities and Futures Commission-approved funds account for the majority of verified investments under the program so far, at around 40%. Stocks represent roughly 30%, bonds over 10%, and the remaining 20% includes investments in linked assurance schemes, open-ended fund companies, real estate investment trust funds, and CIES-managed investment portfolios.

Since October 2024, the government has allowed single residential properties worth at HK$50 million (US$6.4 million) or above to qualify as eligible investments under the program, provided the property falls within the HK$10 million (US$1.3 million) real estate cap – but experts say this option has limited popularity so far.

Officials project that the NCIES will generate over HK$50 billion (US$6.4 billion) in investments by the end of 2025.

Growing Competition in Southeast Asia

While Hong Kong’s program continues to attract considerable investments, competition across Southeast Asia is intensifying as neighbouring countries continue to introduce a diverse suite of incentives to draw global capital and talent.

Thailand has recently implemented a capital gains tax exemption on cryptocurrency transactions through 2029 in a bid to position itself as a digital asset hub. It’s also offering tax exemptions on foreign-sourced income, hoping to lure over 2 trillion baht (US$58.8 billion) in overseas investments, and has recently reduced the fee for adding dependents to Elite Visa applications until the end of summer.

Malaysia’s Sarawak Malaysia My Second Home (SMM2H) program is also gaining momentum, approving 265 applications in the first half of 2025, equivalent to RM65.3 million (US$15.4 million) in fixed deposits.

Taiwan is expanding its Digital Nomad Visa to allow high-income remote workers to stay for up to two years, and Vietnam is considering a 10-year golden visa that could lead to citizenship.