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Hong Kong's groundbreaking New Capital Investment Entrant Scheme

  • The goal of the New Capital Investment Entrant Scheme is to attract global talented individuals and high-net-worth asset owners.
  • The initiative is anticipated to boost the city’s asset and wealth management industry, bring in new investment and commercial prospects, and develop the city’s economy.

Family businesses are expanding remarkably in Hong Kong, especially those from the Asia-Pacific region. Hong Kong is leading the way in the expansion of ultra-high-net-worth (UHNW) individuals in the region, who are generating more money for their families than anywhere else in the globe, according to global real estate consultants Knight Frank. All of these families want to open a family office so they can take use of the resources and infrastructure in the area to manage and increase their fortune.

Hong Kong is appealing because of its advantageous location, status as Asia’s leading financial hub, and government support for the family office industry. That support extends the whole financial and business ecosystem of the city, meeting the fundamental requirements of family-run enterprises and promoting entrepreneurship, creativity, and innovation—all essential components of a thriving global metropolis—thereby broadening the pool of available investment opportunities.

The number of family offices in Hong Kong has increased along with the number of family-owned businesses across Asia. Family offices require favorable government policies, a stable and transparent market infrastructure, and the chance to create new wealth in addition to a strong macro environment. There are no barriers or excessive regulations for foreign companies looking to incorporate in Hong Kong, register branches, set up representative offices, or restrict ownership.

A survey conducted by the Commerce and Economic Development Bureau, released in December 2023, stated that there were over 9,000 Hong Kong enterprises with parent companies in mainland China or abroad, employing 468,000 people in the city overall. More of the top 500 family businesses worldwide are based in Hong Kong than in any other region of Asia-Pacific, which also includes South Korea, India, and the Chinese mainland. The city, which has a population of over 86 million and accounts for 20% of China’s UHNW and high-net-worth (HNW) families, benefits from being a component of the Greater Bay Area (GBA).

New scheme aims to attract capital

With the launch of the New Capital Investment Entrant Scheme (CIES), the specifics of which were revealed at the close of the previous year, Hong Kong is now poised to draw in more HNW people and global talent. Applications for the program will be accepted later this year, with the goal of attracting people from a variety of industries.

The city is well known for being a worldwide financial center that draws in companies and investors from all over the world. Due to its advantageous location in the center of Asia and its well-established legal and regulatory system, it has become a popular choice for foreign businesses and individuals wishing to take advantage of the many opportunities the region has to offer.

The New CIES offers a residence pathway in Hong Kong and is anticipated to increase Hong Kong’s allure for family offices and talent from around the world. This will draw in HNW people and inspire them to contribute their resources and experience to the city, fostering its economic development.

The Hong Kong Investment Corporation will establish and oversee the CIES Investment Portfolio, which will be used to invest in businesses and initiatives with a connection to Hong Kong. This will help the growth of the technology and innovation sectors as well as other key industries that will be advantageous to the city’s economy in the long run.

To Learn more about CIES & want help applying to the scheme, Contact us today!

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Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.

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