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- HK | New Capital Investment Entrant Scheme (New CIES)
Hong Kong New
Capital Investment Entrant Scheme
Application Procedures
and Fees
Preferential Package
Hong Kong launched the New Capital Investment
Entrant Scheme (the “New CIES”) on March 1, 2024, with the aim of enriching the
talent pool and attracting new capital. This scheme provides a pathway for
applicants and their immediate family members to attain permanent residence or
unconditional stay in Hong Kong. To qualify, applicants must commit to
investing HKD30 million in Hong Kong and comply with other immigration
requirements.
Unlike other Hong Kong visas offering a pathway
to permanent residence, the New CIES does not require a specific educational
background, work experience, or achievements. Its assessment criteria focus
solely on the applicant’s investment in Hong Kong. The New CIES pathway to
permanent residence involves the following procedures: (1) Net Asset
Assessment, (2) Entry Application [Approval-in-Principle], (3) Assessment on
Investment Requirements, (4) Entry Application [Formal Approval], (5)
Assessment on Portfolio Maintenance Requirements, (6) Extension of Stay, and
(7) Application for Permanent Residence or Unconditional Stay. The pathway to
permanent residence takes approximately seven to eight years to complete,
consistent with all other types of visas.
Kaizen’s Preferential Package Fee for handling
a New CIES
Application is HKD133,980.
An additional HKD4,990 will apply for each dependent visa.
The New CIES is not applicable to nationals
of Afghanistan,
Cuba and Democratic People's Republic of Korea.
Wherever possible, we formulate our texts in a gender-neutral manner. If
a generic masculine term is used, it is
to be understood as without evaluation and includes all gender identities.
1.
Application Fees
Our Preferential Package Fee for handling a New CIES Application is HKD133,980. An additional
HKD4,990 will apply for each dependent visa.
In particular, our package covers the following services:
(1) Entry Application for Approval-in-Principle;
(2) Entry Application for Final Approval;
(3) Two (2) visa extension applications;
(4) Permanent Residence or Unconditional Stay application;
(5) Continuous advice and support throughout the New CIES application (Items 1 to 4);
(6) Assistance with the preparation of supporting documentation;
(7) Review of application documents gathered by the applicant(s);
(8) Coordinating with Certified Public Accountant (Practising) in relation to
the preparation of New CIES compliant audit reports;
(9) 9 Fulfillment Documents by practising CPA (Net Asset Requirement, Investment
Requirement, Portfolio Maintenance Requirement Fulfillment Documents (at every
anniversary following Final Approval);
(10)
Preparation of the application forms;
(11)
Drafting of authorization letters, statements and arguments where
applicable;
(12)
Lodging of the respective submission packet to Invest Hong Kong (InvestHK) and to the Hong Kong Immigration
Department (ImmD);
(13)
Correspondence with InvestHK and the ImmD regarding the applications;
(14)
Application status reporting to the principal applicant (PA);
(15)
Responding to request(s) for additional supporting documents from
InvestHK or ImmD, if any;
(16)
Coordinating the payment of fees;
(17)
Collecting and forwarding of the approved visa label(s) to the address
specified by the principal applicant;
(18) Guidance on the application of Hong Kong ID
card(s), where needed
Note:
The above fees are exclusive of government fees, delivery charges,
translation fees, notarization fees, other incurred third party fees, etc.
2.
Payment Terms and Method
Upon receipt of your confirmation of engagement,
we will issue and send an invoice together with the wiring instructions to you
for settlement. When arranging the payment, please input our invoice number of
account number in the message section and send or email a copy of the
remittance receipt to us for our records and faster processing.
To benefit from our Preferential Package Fee, we
require full payment in advance. Once the Approval-in-Principle is issued by
the ImmD, no service fees shall be refunded.
We accept cash, HKD check, TT and credit card
through PayPal. An extra handling fee of 5% will be charged if paid by PayPal. If a China or Taiwan
official tax invoice is required, the Value-Added Tax or Business Tax at the
prevailing rate in their respective jurisdiction will be charged and collected
3.
Eligibility Criteria
A. Entry Application
Applicants who satisfy the following criteria may qualify under
the New CIES:
(1) Age: the applicant is aged 18 or above at the
time of applying for Net Asset assessment with InvestHK;
(2) Scope of the
Scheme: the applicant
must be:
· A foreign national, excluding nationals of Afghanistan,
Cuba, and Democratic People’s Republic of Korea;
· A Chinese national who has obtained permanent
resident status in a foreign country;
· A Macao Special Administrative Region resident; OR
· A Chinese resident of Taiwan;
(3) Net assets: the applicant has net assets
or net equity to which he is absolutely beneficially entitled with a market
value of not less than HKD 30 million Net (or equivalent in foreign currencies)
throughout the six months
preceding the date the application is lodged for Net Asset Assessment to
InvestHK;
(4) Investment in Permissible investment assets: the applicant
must make the committed investment in Permissible investment assets to which he
is absolutely beneficially entitled anytime between 180 days before the lodging
of the Net Asset Assessment (or March 1st, 2024, whichever is later)
and 180 days after the Approval-in-Principle is granted by the ImmD. (Please
refer to Attachment A for further details regarding the Permissible investment
assets.)
(5) No adverse record: the applicant has no adverse
immigration record and meets normal immigration and security requirements; AND
(6) Financial Sufficiency: the applicant can financially support and accommodate himself and his dependents,
if any, without relying on any return on the Permissible investment assets,
employment, self-employment, office, business or public assistance in or
carried on in Hong Kong as the case may be.
B. Extension of Stay Application
Applicants who
satisfy the following criteria may qualify for an extension visa under the New CIES:
(1) Portfolio Maintenance Requirement: the applicant shall comply with Portfolio Maintenance Requirement (please
refer to Attachment B for details). Not earlier than 3 months before expiry
of his initial limit of stay, the applicant must request the New CIES Office to
verify his continuous compliance with the Portfolio Maintenance Requirement and submit an
application for extension of stay to the ImmD before expiry of his limit of
stay.
4.
Required Information Documentation
Applicants are required to provide the following information and
documents to support their New CIES application:
(1) Copy of valid
travel document containing personal particulars, date of issue, date of expiry and/or
details of any re-entry visa held (if applicable)
(2) Recent photograph with a plain white background (50mm*40mm~55mm*45mm)
(3) Hong Kong identity card (if any)
(4) Certificate of No Criminal Conviction issued by a competent authority
(i.e. Police/Public Security Bureau) where the applicant has habitually resided
in the past 12 months. Documents issued beyond 6 months preceding the date of
application will not be accepted
(5) Copy of evidence of personal net worth, including bank deposits, real
estate, securities and interests in privately-owned businesses
(6) Fulfillment document issued by a Certified Public Accountant
(Practising)
(7) Certifying Proof for Fulfillment of Net Asset Requirement issued by
InvestHK
(8) Copy of contract(s) with the appointed financial intermediary(ies)
(9) Statements issued by the appointed financial intermediary(ies) of
applicant’s Permissible investment assets
(10) Certifying Proof for Fulfillment of Investment Requirements issued by
InvestHK (submitted after or simultaneously with Item 7)
(11) Copy of Macao identity card [for Macao Special Administrative Region
residents only]
(12) Copy of household registration in Taiwan and Taiwan identity card [for
Taiwan residents only]
(13) Copy of Exit Entry Permit for travelling to and from Hong Kong and
Macau [for PRC residents only]
(14) Proof of the
applicant’s permanent resident status in a foreign country. The official
documents must show applicant's conditions of stay and limit of stay and be
endorsed by overseas authorities (e.g. an official letter issued by the
immigration authority/consulate of the relevant foreign country) [for PRC
passport holders who have obtained overseas permanent residence only]
Documents required for each dependant:
(1) Copy of dependant’s valid travel document containing personal
particulars, date of issue, date of expiry and/or details of any re-entry visa
held (if applicable)
(2) Recent photograph with a plain white background (50mm*40mm~55mm*45mm)
(3) Copy of evidence of relationship with the sponsor (e.g. marriage
certificate, birth certificate)
(4) Copy of Macao identity card [for Macao Special Administrative Region
residents only]
(5) Copy of household registration in Taiwan and Taiwan identity card [for
Taiwan residents only]
(6) Copy of Exit Entry Permit for travelling to and from Hong Kong and
Macau [for PRC residents only]
(7) Proof of the applicant’s permanent resident status in a foreign
country. The official documents must show applicant's conditions of stay and
limit of stay and be endorsed by overseas authorities (e.g. an official letter
issued by the immigration authority/consulate of the relevant foreign country)
[for PRC passport holders who have obtained overseas permanent residence
only]
(8) Certificate of No Criminal Conviction issued by
a competent authority (i.e. Police/Public Security Bureau) where the dependants
(except children) have habitually resided in the past 12 months. Documents
issued beyond 6 months preceding the date of application will not be accepted.
5.
Important Notes
(1)
The Director of Immigration has absolute
discretion to approve or disapprove an application for residence made under the
New CIES. Any investment in the HKSAR is and remains the sole decision and
responsibility of the entrant. The Kaizen Group, the Director of Immigration
and the HKSAR Government shall not be liable to the entrant for any loss on any
investment pursuant to the Scheme howsoever arising.
(2)
The
Hong Kong government reserves the right to designate specific valuation experts
or associations to conduct a revaluation of the assets if deemed necessary.
(3)
(4)
The length of stay of dependants of persons
will normally be linked to their sponsors.
The entry of dependants does not apply to
former Mainland Chinese residents residing in the Macao SAR who have obtained
Macao identity cards for less than seven years, unless they have acquired
residence in the Macao SAR through the One-way Permit Scheme.
6.
Procedures and Timeline
Stage
Procedure
Responsible Party
Working Days (estimated)
1
Consultation and
assessment under the HK New CIES Scheme
Client/Kaizen
Client’s Schedule
Stage 1: Net Asset Assessment
2
Preparation of supporting documents towards Net Asset Assessment
Client/Kaizen
1-2 weeks*
3
Fulfillment document issued by a Certified Public
Accountant (Practising)
Client/Kaizen
1-2 weeks**
4
Submission of Net Asset
Assessment Package to the New CIES Office
Kaizen/InvestHK
1 day
5
Issuance of Proof for
Fulfillment of Net Asset Requirement by the New CIES Office
InvestHK
InvestHK schedule
6
Preparation of
supporting documents for Entry Application (towards an Approval-in-Principle)
Client/Kaizen
1-2 weeks*
7
Submission of the Entry Application to the ImmD
Kaizen/ImmD
1 day
8
Issuance of
Approval-in-principle letter by the ImmD
ImmD
ImmD schedule
Stage 3: Assessment on Investment Requirement
9
Enter Hong Kong and
activate status
Client
Client schedule
10
Appoint financial intermediary
(“FI”) and fulfilling Investment Requirement
Client/FI/Kaizen
Client schedule, < 180 days
11
Preparation of
supporting documents in relation to Fulfillment of Investment Requirement
Client/Kaizen
1-2 weeks*
12
Fulfillment document issued by a Certified Public
Accountant (Practising)
Client/Kaizen
1-2 weeks**
13
Submission of
Fulfillment of Investment Requirement package to the New CIES Office
Client/Kaizen
1 day
14
Issuance of Proof for
Fulfillment of Investment Requirement by the New CIES Office
InvestHK
InvestHK Schedule
Stage 4: Entry Application (Formal Approval)
15
Preparation of
supporting documents for Entry Application (towards Formal Approval)
Client/Kaizen
1-2 weeks*
16
Submission of the Entry
Application (Formal Approval) to the ImmD
Kaizen/ImmD
1 day
17
Issuance of 24-month
initial HK residence visa
ImmD
ImmD schedule
Stage 5: Compliance of Portfolio Maintenance
Requirement and Extension of Stay
Portfolio Maintenance
Requirement
18
Fulfillment
document issued by a Certified Public Accountant (Practising)
Client/Kaizen
Annually
19
Annual submission of
Fulfillment document to the New CIES office
Client/Kaizen/
InvestHK
Annually
1st Extension of Stay
20
Preparation of
supporting documents in relation to the Portfolio Maintenance Requirement (from
3 months before anniversary of Formal Approval)
Client/FI/Kaizen
1-2 weeks*
21
Fulfillment
document issued by a Certified Public Accountant (Practising)
Client/Kaizen
4-5 days
22
Submission of Portfolio
Maintenance Requirement package to the by New CIES Office
Kaizen/InvestHK
1 day
23
Issuance of Proof of
Fulfillment of Portfolio Maintenance Requirement by the New CIES Office
InvestHK
InvestHK Schedule
24
Preparation of
supporting documents for extension of stay visa (from 3 months before visa
expiry)
Client/Kaizen
1-2 weeks*
25
Submission of extension
of stay application to the ImmD (from 2 months before visa
expiry)
Kaizen/ImmD
1 day
26
Issuance of 36-month HK
residence visa
ImmD
3-4 weeks***
2nd Extension of Stay
27
Same as Items 20 to 26
Stage 6: Application for Permanent Residence or
Unconditional Stay
28
Preparation of
supporting document for Application for Permanent Residents or Unconditional Stay
Client/Kaizen
3-4 weeks*
29
Submission of
Application for Permanent Resident (PR) or Unconditional Stay to the ImmD
Kaizen/ImmD
1 day
30
Grant of PR or Unconditional
Stay
ImmD
8-12 weeks***
Estimated total working days
8 Years***
Note:
* The estimated time is based on high cooperation between Kaizen and
the client.
** The estimated time is based on a standard composition of assets held
or invested by the applicant.
*** The estimated time does not include delays caused by relevant
government agencies.
If you wish to obtain more information or
assistance, please visit our official website at
www.kaizenvis.com or contact us through the following means:
T: +852
2341 1444
M: +852
5616 4140, +86 152 1943 4614
WhatsApp/Line/WeChat: +852
5616 4140
Skype: kaizencpa
Hong Kong New
Capital Investment Entrant Scheme
Application Procedures
and Fees
Hong Kong launched the New Capital Investment
Entrant Scheme (the “New CIES”) on March 1, 2024, with the aim of enriching the
talent pool and attracting new capital. This scheme provides a pathway for
applicants and their immediate family members to attain permanent residence or
unconditional stay in Hong Kong. To qualify, applicants must commit to
investing HKD30 million in Hong Kong and comply with other immigration
requirements.
Unlike other Hong Kong visas offering a pathway to permanent residence, the New CIES does not require a specific educational background, work experience, or achievements. Its assessment criteria focus solely on the applicant’s investment in Hong Kong. The New CIES pathway to permanent residence involves the following procedures: (1) Net Asset Assessment, (2) Entry Application [Approval-in-Principle], (3) Assessment on Investment Requirements, (4) Entry Application [Formal Approval], (5) Assessment on Portfolio Maintenance Requirements, (6) Extension of Stay, and (7) Application for Permanent Residence or Unconditional Stay. The pathway to permanent residence takes approximately seven to eight years to complete, consistent with all other types of visas.
Kaizen’s Preferential Package Fee for handling a New CIES Application is HKD133,980. An additional HKD4,990 will apply for each dependent visa.
The New CIES is not applicable to nationals
of Afghanistan,
Cuba and Democratic People's Republic of Korea.
1.
Application Fees
Our Preferential Package Fee for handling a New CIES Application is HKD133,980. An additional HKD4,990 will apply for each dependent visa.
In particular, our package covers the following services:
(1) Entry Application for Approval-in-Principle;
(2) Entry Application for Final Approval;
(3) Two (2) visa extension applications;
(4) Permanent Residence or Unconditional Stay application;
(5) Continuous advice and support throughout the New CIES application (Items 1 to 4);
(6) Assistance with the preparation of supporting documentation;
(7) Review of application documents gathered by the applicant(s);
(8) Coordinating with Certified Public Accountant (Practising) in relation to the preparation of New CIES compliant audit reports;
(9) 9 Fulfillment Documents by practising CPA (Net Asset Requirement, Investment Requirement, Portfolio Maintenance Requirement Fulfillment Documents (at every anniversary following Final Approval);
(10) Preparation of the application forms;
(11) Drafting of authorization letters, statements and arguments where applicable;
(12) Lodging of the respective submission packet to Invest Hong Kong (InvestHK) and to the Hong Kong Immigration Department (ImmD);
(13) Correspondence with InvestHK and the ImmD regarding the applications;
(14) Application status reporting to the principal applicant (PA);
(15) Responding to request(s) for additional supporting documents from InvestHK or ImmD, if any;
(16) Coordinating the payment of fees;
(17) Collecting and forwarding of the approved visa label(s) to the address specified by the principal applicant;
(18) Guidance on the application of Hong Kong ID card(s), where needed
Note:
The above fees are exclusive of government fees, delivery charges,
translation fees, notarization fees, other incurred third party fees, etc.
2.
Payment Terms and Method
Upon receipt of your confirmation of engagement, we will issue and send an invoice together with the wiring instructions to you for settlement. When arranging the payment, please input our invoice number of account number in the message section and send or email a copy of the remittance receipt to us for our records and faster processing.
To benefit from our Preferential Package Fee, we require full payment in advance. Once the Approval-in-Principle is issued by the ImmD, no service fees shall be refunded.
We accept cash, HKD check, TT and credit card
through PayPal. An extra handling fee of 5% will be charged if paid by PayPal. If a China or Taiwan
official tax invoice is required, the Value-Added Tax or Business Tax at the
prevailing rate in their respective jurisdiction will be charged and collected
3.
Eligibility Criteria
A. Entry Application
Applicants who satisfy the following criteria may qualify under the New CIES:
(1) Age: the applicant is aged 18 or above at the time of applying for Net Asset assessment with InvestHK;
(2) Scope of the Scheme: the applicant must be:
· A foreign national, excluding nationals of Afghanistan, Cuba, and Democratic People’s Republic of Korea;
· A Chinese national who has obtained permanent resident status in a foreign country;
· A Macao Special Administrative Region resident; OR
· A Chinese resident of Taiwan;
(3) Net assets: the applicant has net assets or net equity to which he is absolutely beneficially entitled with a market value of not less than HKD 30 million Net (or equivalent in foreign currencies) throughout the six months preceding the date the application is lodged for Net Asset Assessment to InvestHK;
(4) Investment in Permissible investment assets: the applicant must make the committed investment in Permissible investment assets to which he is absolutely beneficially entitled anytime between 180 days before the lodging of the Net Asset Assessment (or March 1st, 2024, whichever is later) and 180 days after the Approval-in-Principle is granted by the ImmD. (Please refer to Attachment A for further details regarding the Permissible investment assets.)
(5) No adverse record: the applicant has no adverse immigration record and meets normal immigration and security requirements; AND
(6) Financial Sufficiency: the applicant can financially support and accommodate himself and his dependents, if any, without relying on any return on the Permissible investment assets, employment, self-employment, office, business or public assistance in or carried on in Hong Kong as the case may be.
B. Extension of Stay Application
Applicants who satisfy the following criteria may qualify for an extension visa under the New CIES:
(1) Portfolio Maintenance Requirement: the applicant shall comply with Portfolio Maintenance Requirement (please refer to Attachment B for details). Not earlier than 3 months before expiry of his initial limit of stay, the applicant must request the New CIES Office to verify his continuous compliance with the Portfolio Maintenance Requirement and submit an application for extension of stay to the ImmD before expiry of his limit of stay.
4.
Required Information Documentation
Applicants are required to provide the following information and documents to support their New CIES application:
(1) Copy of valid travel document containing personal particulars, date of issue, date of expiry and/or details of any re-entry visa held (if applicable)
(2) Recent photograph with a plain white background (50mm*40mm~55mm*45mm)
(3) Hong Kong identity card (if any)
(4) Certificate of No Criminal Conviction issued by a competent authority (i.e. Police/Public Security Bureau) where the applicant has habitually resided in the past 12 months. Documents issued beyond 6 months preceding the date of application will not be accepted
(5) Copy of evidence of personal net worth, including bank deposits, real estate, securities and interests in privately-owned businesses
(6) Fulfillment document issued by a Certified Public Accountant (Practising)
(7) Certifying Proof for Fulfillment of Net Asset Requirement issued by InvestHK
(8) Copy of contract(s) with the appointed financial intermediary(ies)
(9) Statements issued by the appointed financial intermediary(ies) of applicant’s Permissible investment assets
(10) Certifying Proof for Fulfillment of Investment Requirements issued by InvestHK (submitted after or simultaneously with Item 7)
(11) Copy of Macao identity card [for Macao Special Administrative Region residents only]
(12) Copy of household registration in Taiwan and Taiwan identity card [for Taiwan residents only]
(13) Copy of Exit Entry Permit for travelling to and from Hong Kong and Macau [for PRC residents only]
(14) Proof of the applicant’s permanent resident status in a foreign country. The official documents must show applicant's conditions of stay and limit of stay and be endorsed by overseas authorities (e.g. an official letter issued by the immigration authority/consulate of the relevant foreign country) [for PRC passport holders who have obtained overseas permanent residence only]
Documents required for each dependant:
(1) Copy of dependant’s valid travel document containing personal particulars, date of issue, date of expiry and/or details of any re-entry visa held (if applicable)
(2) Recent photograph with a plain white background (50mm*40mm~55mm*45mm)
(3) Copy of evidence of relationship with the sponsor (e.g. marriage certificate, birth certificate)
(4) Copy of Macao identity card [for Macao Special Administrative Region residents only]
(5) Copy of household registration in Taiwan and Taiwan identity card [for Taiwan residents only]
(6) Copy of Exit Entry Permit for travelling to and from Hong Kong and Macau [for PRC residents only]
(7) Proof of the applicant’s permanent resident status in a foreign country. The official documents must show applicant's conditions of stay and limit of stay and be endorsed by overseas authorities (e.g. an official letter issued by the immigration authority/consulate of the relevant foreign country) [for PRC passport holders who have obtained overseas permanent residence only]
(8) Certificate of No Criminal Conviction issued by a competent authority (i.e. Police/Public Security Bureau) where the dependants (except children) have habitually resided in the past 12 months. Documents issued beyond 6 months preceding the date of application will not be accepted.
5.
Important Notes
The Director of Immigration has absolute discretion to approve or disapprove an application for residence made under the New CIES. Any investment in the HKSAR is and remains the sole decision and responsibility of the entrant. The Kaizen Group, the Director of Immigration and the HKSAR Government shall not be liable to the entrant for any loss on any investment pursuant to the Scheme howsoever arising.
(3)
(4)
The length of stay of dependants of persons will normally be linked to their sponsors.
The entry of dependants does not apply to former Mainland Chinese residents residing in the Macao SAR who have obtained Macao identity cards for less than seven years, unless they have acquired residence in the Macao SAR through the One-way Permit Scheme.
6.
Procedures and Timeline
|
Stage |
Procedure |
Responsible Party |
Working Days (estimated) |
|
1 |
Consultation and assessment under the HK New CIES Scheme |
Client/Kaizen |
Client’s Schedule |
|
Stage 1: Net Asset Assessment |
|||
|
2 |
Preparation of supporting documents towards Net Asset Assessment |
Client/Kaizen |
1-2 weeks* |
|
3 |
Fulfillment document issued by a Certified Public Accountant (Practising) |
Client/Kaizen |
1-2 weeks** |
|
4 |
Submission of Net Asset Assessment Package to the New CIES Office |
Kaizen/InvestHK |
1 day |
|
5 |
Issuance of Proof for Fulfillment of Net Asset Requirement by the New CIES Office |
InvestHK |
InvestHK schedule |
|
6 |
Preparation of supporting documents for Entry Application (towards an Approval-in-Principle) |
Client/Kaizen |
1-2 weeks* |
|
7 |
Submission of the Entry Application to the ImmD |
Kaizen/ImmD |
1 day |
|
8 |
Issuance of Approval-in-principle letter by the ImmD |
ImmD |
ImmD schedule |
|
Stage 3: Assessment on Investment Requirement |
|||
|
9 |
Enter Hong Kong and activate status |
Client |
Client schedule |
|
10 |
Appoint financial intermediary (“FI”) and fulfilling Investment Requirement |
Client/FI/Kaizen |
Client schedule, < 180 days |
|
11 |
Preparation of supporting documents in relation to Fulfillment of Investment Requirement |
Client/Kaizen |
1-2 weeks* |
|
12 |
Fulfillment document issued by a Certified Public Accountant (Practising) |
Client/Kaizen |
1-2 weeks** |
|
13 |
Submission of Fulfillment of Investment Requirement package to the New CIES Office |
Client/Kaizen |
1 day |
|
14 |
Issuance of Proof for Fulfillment of Investment Requirement by the New CIES Office |
InvestHK |
InvestHK Schedule |
|
Stage 4: Entry Application (Formal Approval) |
|||
|
15 |
Preparation of supporting documents for Entry Application (towards Formal Approval) |
Client/Kaizen |
1-2 weeks* |
|
16 |
Submission of the Entry Application (Formal Approval) to the ImmD |
Kaizen/ImmD |
1 day |
|
17 |
Issuance of 24-month initial HK residence visa |
ImmD |
ImmD schedule |
|
Stage 5: Compliance of Portfolio Maintenance Requirement and Extension of Stay |
|||
|
Portfolio Maintenance Requirement |
|||
|
18 |
Fulfillment document issued by a Certified Public Accountant (Practising) |
Client/Kaizen |
Annually |
|
19 |
Annual submission of Fulfillment document to the New CIES office |
Client/Kaizen/ InvestHK |
Annually |
|
1st Extension of Stay |
|||
|
20 |
Preparation of supporting documents in relation to the Portfolio Maintenance Requirement (from 3 months before anniversary of Formal Approval) |
Client/FI/Kaizen |
1-2 weeks* |
|
21 |
Fulfillment document issued by a Certified Public Accountant (Practising) |
Client/Kaizen |
4-5 days |
|
22 |
Submission of Portfolio Maintenance Requirement package to the by New CIES Office |
Kaizen/InvestHK |
1 day |
|
23 |
Issuance of Proof of Fulfillment of Portfolio Maintenance Requirement by the New CIES Office |
InvestHK |
InvestHK Schedule |
|
24 |
Preparation of supporting documents for extension of stay visa (from 3 months before visa expiry) |
Client/Kaizen |
1-2 weeks* |
|
25 |
Submission of extension of stay application to the ImmD (from 2 months before visa expiry) |
Kaizen/ImmD |
1 day |
|
26 |
Issuance of 36-month HK residence visa |
ImmD |
3-4 weeks*** |
|
2nd Extension of Stay |
|||
|
27 |
Same as Items 20 to 26 |
|
|
|
Stage 6: Application for Permanent Residence or Unconditional Stay |
|||
|
28 |
Preparation of supporting document for Application for Permanent Residents or Unconditional Stay |
Client/Kaizen |
3-4 weeks* |
|
29 |
Submission of Application for Permanent Resident (PR) or Unconditional Stay to the ImmD |
Kaizen/ImmD |
1 day |
|
30 |
Grant of PR or Unconditional Stay |
ImmD |
8-12 weeks*** |
|
Estimated total working days |
8 Years*** |
||
Note:
* The estimated time is based on high cooperation between Kaizen and the client.
** The estimated time is based on a standard composition of assets held
or invested by the applicant.
*** The estimated time does not include delays caused by relevant
government agencies.
If you wish to obtain more information or
assistance, please visit our official website at
www.kaizenvis.com or contact us through the following means:
T: +852
2341 1444
M: +852
5616 4140, +86 152 1943 4614
WhatsApp/Line/WeChat: +852
5616 4140
Skype: kaizencpa
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Attachment A: Permissible Financial Assets I. Permissible Financial Assets a. Equities shares of companies that are listed on the Stock Exchange of Hong Kong (“SEHK”) and traded in Hong Kong Dollars (“HKD”) or Renminbi (“RMB”); b. Debt securities i. debt securities listed on the SEHK and traded in HKD or RMB (including debt instruments issued in Hong Kong by the Ministry of Finance of the People’s Republic of China and local people’s governments at any level in the Mainland); ii. debt securities denominated in HKD or RMB, including fixed or floating rate instruments and convertible bonds[1] issued or fully guaranteed by: A. the Hong Kong Special Administrative Region Government (“the Government”), the Exchange Fund, the Hong Kong Mortgage Corporation, the MTR Corporation Limited, Hong Kong Airport Authority, and other corporations, agencies or bodies wholly or partly owned by the Government as may be specified from time to time by the Government; or B. listed companies referred to under paragraph (a) above; c. Certificates of deposits certificates of deposits denominated in HKD or RMB issued by authorised institutions as defined in the Banking Ordinance (Cap. 155 of the Laws of Hong Kong) with a remaining term to maturity of not less than 12 months at the time of acquisition by the Applicant/Entrant, subject to a cap of 10% (i.e. HK$3 million) of the minimum investment threshold. This acquisition must take place after Approval-in-Principle has been granted by Director of Immigration and thereafter the Applicant be absolutely beneficially entitled to the invested certificates of deposits throughout its term. These certificates of deposits on reaching maturity must be replaced by certificates of deposits with a remaining term to maturity of not less than 12 months at the time of acquisition by the Applicant or by other Permissible investment assets;
d. Subordinated debt subordinated debt denominated in HKD or RMB issued by authorised institutions in compliance with Schedules 4B and 4C of the Banking (Capital) Rules (Cap. 155L of the Laws of Hong Kong); e. Eligible collective investment schemes i. Securities and Futures Commission (“SFC”)-authorised funds[2] managed by corporations licensed by or institutions registered with the SFC for Type 9 regulated activity; ii. SFC-authorised real estate investment trusts managed by corporations licensed by or institutions registered with the SFC for Type 9 regulated activity; iii. SFC-authorised Investment-Linked Assurance Schemes[3] issued by insurers permitted to carry on Class C business as specified in Part 2 of Schedule 1 to the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong); iv. open-ended fund companies (“OFCs”) registered under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and managed by corporations licensed by or institutions registered with the SFC for Type 9 regulated activity (see also paragraph (f) below); and
f. Ownership interest in limited partnership funds (“LPFs”) registered under the Limited Partnership Fund Ordinance (Cap. 637 of the Laws of Hong Kong) The total investment amount of ownership interest in private LPFs in this paragraph and private OFCs in paragraph (e)(iv) above[4] is subject to an aggregate cap of HK$10 million. g. Real Estate & Non-residential Real Estate[5]
The total investment amount in real estate under paragraph IV which is counted towards the fulfillment of minimum investment threshold is subject to an aggregate cap of HK$15 million, of which the investment in residential real estate is capped at HK$10 million. Real estate for this purpose excludes illegal or unlawful use or occupation of land, and boats, houseboats, trailers, caravans, illegal structures and cocklofts whether or not rated, connected to mains water or power supplies, or on permanent or fixed moorings or foundations, as the case may be.
Non-residential real estate, whether commercial and/or industrial may include pre-completion properties covering offices, commercial premises, retail premises and factories. However, this excludes land and multi-purpose real estate partly for residential purposes in Hong Kong.
For residential real estate (including pre-completion property and multi-purpose real estate partly for residential purposes) in Hong Kong, the investment must be made in one single property with transaction price of HK$30 million or above. h. CIES Investment Portfolio (“CIES IP”) Each Applicant under the Scheme is required to place HK$3 million into a new CIES IP, which will be set up and managed by the Hong Kong Investment Corporation Limited (“HKIC”). The CIES IP will make investment in companies/projects with a Hong Kong nexus, with a view to supporting the development of innovation and technology industries and other strategic industries that are beneficial to the long-term development of Hong Kong’s economy. The HK$3 million placed into the CIES IP will be subject to lock-up. Capital preservation and dividends are not guaranteed, and distribution may be made on a discretionary basis at appropriate junctures subject to factors such as the pace and mix of the construction and realisation of the CIES IP, as well as the policy objectives and implementation arrangements. II. The Permissible financial assets may be managed on a self-directed basis by the Applicant and/or his Holding Company, or at the discretion of the financial intermediary(ies). The Applicant/Holding Company can only engage at most three financial intermediaries and these three intermediaries should be of different categories as described below (1-3):
Attachment B: Reference for Permissible Financial Assets The Applicant must deposit his Permissible financial assets into a designated account operated by an eligible financial intermediary, use the designated account exclusively for the transaction of Permissible financial assets and must not reduce the committed investment while permitted to stay in Hong Kong under the Scheme. In order to qualify and remain qualified under the Scheme, an Applicant will have to comply with the following requirements in respect of his Permissible investment assets and provide all such material information in writing to the satisfaction of Director-General of Investment Promotion with regard to these assets as Director-General of Investment Promotion may request in order to assess the Applicant’s/Entrant's eligibility and entitlement (if any) under the Scheme:
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[1] If an Applicant exercises the option to convert the bonds to shares, the investment would be regarded as equities and treated as such afterwards. [2] Referring to unit trusts and mutual funds authorised by the SFC under the Code on Unit Trusts and Mutual Funds. [3] Referring to investment-linked assurance schemes authorised by the SFC under the Additional Guidance on Internal Product Approval Process. [4] Private OFCs and private LPFs refer to those OFCs and LPFs which are not authorised by the SFC for offering to the public and the offer of which falls within an exemption under Section 103 of the Securities and Futures Ordinance, e.g. offers made only to professional investors. [5] The real estate should be held in the own name of the Applicant or through a sole proprietorship under his name, or through a company of which the Applicant being the sole shareholder. Non-residential real estate and residential real estate mean “non-residential property” and “residential property” defined in section 29A of the Stamp Duty Ordinance (Cap. 117 of the Laws of Hong Kong) respectively.
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