This update refers to the recently introduced two-tiered fee structure for specific visa schemes, and enhanced rules to the New Capital Investment Entrant Scheme.
1. New Fee Structure for Visa Applications under Specified Schemes
Beginning from 11am on 26 February 2025, visa applications made under the below schemes will require the payment of both a newly introduced application fee of HK$600, and, if the visa application is successful, a raised visa issuance fee of either HK$600 or HK$1,300 (depending on whether the visa is valid for more than 180 days):
- Top Talent Pass Scheme
- General Employment Policy
- Admission Scheme for Mainland Talents and Professionals
- Quality Migrant Admission Scheme
- Immigration Arrangements for Non-local Graduates
- Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents
- New Capital Investment Entrant Scheme
- Capital Investment Entrant Scheme
- Technology Talent Admission Scheme
- Vocational Professionals Admission Scheme
It should be noted that the application fee is non-refundable, meaning that it has to be paid regardless of whether the visa application is successful ultimately.
Employers should take note of the increased costs in visa applications when preparing their budgets.
2. Enhancements to the New Capital Investment Entrant Scheme for Foreign Investors to Become Permanent Residents in Hong Kong
On 1 March 2025, the Hong Kong Government announced enhancements to the New Capital Investment Entrant Scheme (the “Scheme”), making it easier for high-net-worth foreigners to permanently reside in Hong Kong.
Previously, in order apply to the Scheme, the applicant had to demonstrate that he/she holds and is entitled to net assets of not less than HK$30 million throughout the two years preceding the application. Under the relaxed rules, the period has shortened from two years to six months before the application.
Further, under the new rules, the respective portion of any net assets which the applicant jointly owns with his/her family members to which he/she is absolutely beneficially entitled could also be taken into account in the assessment of the applicant’s net assets.
In order to apply to the Scheme, the applicant should first approach the New CIES Office to verify that he/she fulfils the net asset requirement. The New CIES Office is an office under Invest Hong Kong, and is responsible for assessing the financial assets and investment of the Scheme’s applicants and entrants as well as monitoring their continuous compliance with the investment requirements and portfolio maintenance requirements. Once the New CIS Office is satisfied that the applicant meets the net asset requirement, the New CIES Office will issue a certification document and notify the Director of Immigration, who is responsible for handling visa and residency applications.
The successful applicant must then make, if he/she has not already made, an investment of a minimum of HK$30 million (or equivalent in foreign currencies) in permissible assets in Hong Kong including shares traded on the Stock Exchange of Hong Kong (“SEHK”) in Hong Kong Dollars (“HKD”) or Renminbi (“RMB”), debt securities listed on the SEHK and traded in HKD or RMB, and exchange-traded funds (there are restrictions on real estate investments for the purposes of assessing whether the minimum investment threshold has been met). Assets acquired before the launch date of the Scheme (i.e. 1 March 2024) shall not be counted towards the fulfillment of minimum investment threshold.
Apart from the existing holding method, an applicant beginning from 1 March 2025 can also hold his/her investment in a private company, so long as, amongst other conditions, the company is incorporated or registered in Hong Kong, is wholly owned by the applicant, and only holds permissible investment assets.
A successful applicant, and his/her dependants (if any), would be granted the permission to stay in Hong Kong for not more than 24 months initially, subject to the applicant’s continuous compliance with the Scheme’s requirements during the period, and further extensions of stay for not more than three years will normally be granted on the same conditions and on the same basis upon subsequent successful applications for extension of stay.
In line with Hong Kong law, the successful applicant and his/her dependants (if any) may apply to become Hong Kong permanent residents after seven years of continuous ordinary residence in Hong Kong.
