Hong Kong's new "Investment Immigration" program officially began accepting applications on March 1, 2024, which is undoubtedly good news for entrepreneurs who hope to obtain Hong Kong status!

Hong Kong's "Investment Immigration" does not require residence, work, or business operations in Hong Kong; it only requires a substantial investment to allow the whole 

family to obtain Hong Kong status! However, given the high amount of investment required, this method is more suitable for those with large assets and high net worth individuals.

What's the difference between 2003 and this year?

In fact, this is not the first time the Hong Kong government has implemented the "Investment Immigration" policy; it was first introduced in 2003.

At that time, Hong Kong's economy was severely recessionary due to the impact of SARS, with an unemployment rate as high as 8.5%. In October of the same year, Hong Kong introduced 

an investment immigration policy aimed at attracting high net worth individuals to invest in Hong Kong to boost the economy.

The investment threshold at that time was 10 million, and now it has tripled to 30 million!

But the high threshold of 30 million did not deter mainland people from their determination to obtain Hong Kong status.

The 2024 new investment immigration policy has been warmly received!

In April of this year, HSBC conducted a survey of 114 mainland high net worth individuals with overseas assets; these individuals all had investable assets of more than 3 million US dollars and 

were interested in obtaining the right of residence in other cities in Asia. The survey results showed that about 60% of people believe that Hong Kong ranks first among the most ideal cities to 

live in Asia, surpassing Singapore and Seoul, which are in the second and third places, respectively, and plan to move to Hong Kong within the next five years.

As of the end of June, more than 3,700 inquiries and 339 applications have been received.

More than 192 applications have been approved for net asset review, including from Europe, America, and Singapore.

The Immigration Department has already given "principle approval" for more than 88 applications, allowing applicants to stay in Hong Kong as visitors for no more than 180 days.

It should be noted that the hard condition for investment immigration is to have a net asset of no less than HKD 30 million or the equivalent in foreign currency, which can be used to invest in stocks, funds, bonds, and so on.

If all the applications are approved, it is expected to bring more than 10 billion yuan to Hong Kong! This is sufficient to show that high net worth individuals are full of confidence in Hong Kong, and the market response is quite positive.

Wu Yang Yu Ru, General Manager and Head of Wealth Management and Personal Banking Business of HSBC Hong Kong Area, revealed that the main factors attracting customers to settle

 in Hong Kong are medical services, the ability to provide international education for children, and the free economic environment of Hong Kong, which is beneficial to the customers' own business.