HK Raises Entry Requirements

By ExpatBriefing.com Editorial 15 October, 2010

During the Chief Executive’s 2010-11 Policy Address it was announced that the investment, net asset and net equity entry requirements for admission to Hong Kong under the Capital Investment Entrant Scheme have been increased.

After a review of the scheme, during which the government took into account overseas practices, changes in economic indicators, and the views of the public and Legislative Council members, the requirement is raised to HKD10m (USD1.3m) from HKD6.5m. In addition, real estate is suspended temporarily as a class of permissible investment assets under the Scheme.

Following the amendments, it was said that the Scheme remains competitive compared with similar overseas programmes. The investment threshold, net assets and net equity requirement will be reviewed every three years. The arrangement of the temporary suspension of real estate as a class will also be assessed at the next regular review, or earlier as necessary.

The amendments will not affect applications received before the commencement date, whether already approved or still being processed. Since the Scheme’s introduction, 8,200 investors with 15,500 dependants have been admitted to Hong Kong, bringing in HKD58bn in investment.

A comprehensive report in our Intelligence Report series giving detailed information on offshore jurisdictions in tabular form, titled "The Lowtax Offshore Charts: Country Characteristics and Taxation; Residence Guide", is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.asp

Tags: Individuals | Expatriates | Investment | Real-estate Investment | Law | Real-estate | Offshore | Professionals | Hong Kong | Regulation |

 





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