Hong Kong Suspends Investor Visa Scheme

By Haruna Kobayashi, for ExpatBriefing.com 15 January, 2015

The Government of Hong Kong has announced the suspension of the territory's Capital Investment Entrant Scheme (CIES) with immediate effect.

The Immigration Department will process the 12,000 applications that have already been received however. In addition, individuals who made the required investment of HKD10m (USD1.3m) in the past six months may submit an application. The deadline for applications is six months from the date that investment was made.

Explaining the suspension of the scheme, a spokesperson for the Government said that when the CIES was implemented in 2003 Hong Kong's economy was in recession and the scheme was needed to stimulate growth. It was said Hong Kong's focus will now "be on attracting talent, professionals, and innovative entrepreneurs," rather than capital.

Tags: Individuals | Investment | Entrepreneurs | Professionals | Hong Kong | Expats | Immigration | Investment | Visas And Passports | Invest | Immigration | Investment |

 





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