Hong Kong's new scheme to attract investment sees double-digit applications

HONG KONG -- Hong Kong's new Capital Investment Entrant Scheme has received double-digit applications and over 1,600 inquiries from high-net-worth individuals worldwide since its launch on March 1, according to Invest Hong Kong under the Hong Kong Special Administrative Region (HKSAR) government.

The avid response to the new scheme so far shows that high-net-worth individuals are confident in Hong Kong's stable business environment and are interested in the city's diverse investment opportunities, said Alpha Lau, Invest Hong Kong's director-general of investment promotion.

The HKSAR government will continue to roll out measures to strengthen Hong Kong's competitive edge as an asset and wealth management hub, said Lau.

According to the scheme, an eligible applicant must invest a minimum of 30 million Hong Kong dollars (about $3.9 million) in permissible investment assets. A successful applicant and his or her dependants will normally be granted with permission to stay in Hong Kong for two years with the possibility of extensions.