Hong Kong’s New Capital Investment Entrant Scheme (New CIES) received 3,166 applications in its first two years, InvestHK announced Monday, with anticipated investment of approximately HK$95 billion (US$12.15 billion). Of those, 1,762 applicants completed their investments and received formal approval from the Immigration Department. Year two alone produced 2,248 of those applications, up 145% from…
Hong Kong Investment Corp (HKIC), the government’s investment arm, on Tuesday appointed 10 asset managers spanning venture capital, private equity, private credit and hedge funds to oversee at least HK$3 billion (US$385 million) under its enhanced cash-for-residency scheme. HKIC said in a statement that the new batch of managers for the investment portfolio under the…
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CIES applications continue to surge after government’s policy changes, monthly application average now at 85. Hong Kong’s Capital Investment Entrant Scheme (CIES) has received 1,257 applications as of May 25. InvestHK anticipates HK$37 billion (US$4.7 billion) in investment commitments from the expanding applicant pool. The program has processed 512 formal approvals for applicants who completed…