First batch of visa applications approved under the New Capital Investment Entrant Scheme - Immigration Department and Invest Hong Kong partner up to boost business friendliness
In June, the Immigration Department approved the first batch of visa applications under the New Capital Investment Entrant Scheme (CIES), with Formal Approval granted in less than three months. The Immigration Department and Invest Hong Kong (InvestHK) work closely together on the New CIES and are actively exploring other collaboration opportunities to boost business travel convenience in Hong Kong.
Here are the key numbers of the New CIES since its launch on March 1 to June 30.
| Number of enquiries | Over 3 700 |
| Number of applications | 339 |
| Number of Approval-in-Principle (Granting of 180-day visitor visas for making investment) | 88 |
| Number of approved visa (Investment of HK$30 million already made) | 3 |
| Expected investment amount to be brought into Hong Kong | Over HK$10 billion |
The Director of Immigration, Mr Benson Kwok, said, "The Government has introduced various policies to attract talent and capital to Hong Kong, including the New CIES. We have approved the first batch of entry applications and are actively processing other applications. I believe the New CIES will bring new vitality and opportunities to Hong Kong. The Immigration Department will continue to collaborate closely with InvestHK to create an even more business-friendly environment in Hong Kong.”
The Director-General of InvestHK, Ms Alpha Lau, said, "The New CIES brings a vast pool of talents to Hong Kong, attracting successful businessmen and innovative entrepreneurs, and with current application numbers an expected investment of over HK$10 billion (if more than 300 applications are all approved) to enhance the developmental strengths of Hong Kong's asset and wealth management industry. InvestHK and the Immigration Department have been working closely together on the New CIES and will continue to deepen co-operation to further strengthen Hong Kong's appeal as a business hub.”
In addition, the country has announced that non-Chinese Hong Kong permanent residents will soon be eligible for a card-type document to enhance convenience of clearance at control points of the Mainland. Under this new measure, cardholders will be able to travel to the Mainland multiple times within five-year validity period, without the need to apply for a separate visa. They will also be able to enjoy self-service clearance at control points of the Mainland, significantly enhancing clearance efficiency. This serves to foster stronger economic ties between Hong Kong and the Mainland.
Ends/Wednesday, July 3, 2024