The Hong Kong SAR government announced that it will soon relaunch its residency-by-investment scheme. The government suspended the scheme in 2015 to focus on attracting talent instead of investments, but is now relaunching the program to help economic recovery from the COVID-19 pandemic. Successful applicants will be eligible to apply for permanent residence after seven years of status under the program. Although the government has not officially announced the amount required for the relaunched investment scheme, Hong Kong SAR’s Financial Secretary Paul Chan expects this to be more than HKD 14 million (USD 1.78 million), which is up from HKD 10 million (USD 1.27 million), the investment threshold when the program was still active. Like the previous scheme that was suspended, the new residency-by-investment program will not be available for Mainland China citizens.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
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