As part of its efforts to «trawl for and retain talents», Hong Kong chief executive John Lee announced the government’s plans to implement investment-based immigration into the city.
Hong Kong will look to implement the «Capital Investment Entrant Scheme» (CIES), according to chief executive John Lee's policy address for 2023. The scheme has been suspended since January 2015.
Eligible individuals who make investments of HK$30 million ($3.8 million) or above can apply for entry into Hong Kong. Assets applicable for investments include stocks, funds and bonds, while excluding real estate. More details about the scheme will be announced by the end of the year.
«This will strengthen the development of our asset and wealth management business, financial services and related professional services,» Lee said in a speech. «We must nonetheless sustain our efforts to strengthen Hong Kong's competitiveness in view of the fierce global competition. The government will endeavor to trawl for and retain talents.»
