Hong Kong’s new cash-for-residency scheme draws US$12 billion in first 2 years

Hong Kong’s cash-for-residency scheme has attracted about HK$95 billion (US$12 billion) from more than 1,700 investors over the past two years, with around two-thirds of the approved capital channelled into authorised funds and equities, the latest figures from InvestHK show.The government’s investment promotion arm on Monday released the figures for the New Capital Investment Entrant Scheme (New CIES), designed to encourage high-net-worth individuals to invest in Hong Kong, bringing both capital and professional talent into the city.Authorities received 3,166 applications since the launch of New CIES in March 2024, with 1,762 investors completing their commitments and receiving formal approval from the Immigration Department.The number of applications in the scheme’s second year rose 145 per cent to 2,248, following an initial foundation and awareness-building phase, indicating growing interest from investors, officials said.As of the end of February, HK$21.4 billion, or 39 per cent of the total deployed capital of HK$55.6 billion, flowed into professionally managed funds approved by the Securities and Futures Commission.Authorities have received nearly 3,200 applications since the launch of New CIES in March 2024. Dickson LeeEquities were the second most popular option, receiving HK$16.1 billion, or 29 per cent of the total. Debt securities accounted for HK$5.3 billion, or 9.5 per cent, while investment-linked assurance schemes and the New CIES investment portfolio together took HK$11 billion, or around 20 per cent.