The Capital Investment Entrant Scheme (CIES) is a Hong Kong immigration route built for family capital: applicants who invest no less than HK$30 million in eligible assets obtain Hong Kong residency, and may apply for permanent residence after seven years. Applications are processed by the Immigration Department, while investment rules are administered by the New CIES Office under InvestHK.
History: two generations of CIES
The first CIES launched in 2003 and was suspended in 2015; the new scheme relaunched in March 2024 with a fully upgraded investment threshold and asset scope. The 2025 Policy Address went further: the qualifying threshold for residential property was lowered from HK$50 million to HK$30 million — one of the most significant rule changes since the relaunch.
Investment requirement: where the HK$30 million goes
| Asset class | Requirement |
|---|---|
| Eligible financial assets | Equities, bonds, accredited funds, bank deposits and similar (the main portion) |
| Innovation & tech support | No less than HK$3 million into the CIES Innovation and Technology Support arrangement |
| Residential property | Residential property priced at HK$30 million or above counts, with a HK$15 million cap (from the 2026 Policy Address) |
| Total | No less than HK$30 million combined |
Basic applicant requirements
- Aged 18 or above; foreign nationals, or Chinese nationals who have obtained permanent status in another country, within eligible categories.
- Net assets of no less than HK$30 million over the two years preceding the application, with supporting proof.
- Clean record in Hong Kong and place of residence; financial capacity to sustain the investment.
Application process (five steps)
- Step 1 — Net asset verification: apply to InvestHK for assessment of net assets.
- Step 2 — Approval in principle: receive a two-year entry visa under approval in principle.
- Step 3 — Complete the investment: deploy HK$30 million into eligible assets within the deadline and submit proof.
- Step 4 — Formal approval: receive the formal residence visa.
- Step 5 — Extension and permanent residence: after seven years of continuous ordinary residence, apply for permanent residency; the investment is maintained until PR or an exit arrangement.
How CIES connects to family offices
CIES is the main route for family members to obtain Hong Kong residency, pairing with the family office tax concession as a residency-plus-tax package: families arrange members’ residency through CIES while operating an SFO under Schedule 16E for a 0% profits tax platform. Hong Kong now hosts 3,380+ single family offices (InvestHK / Deloitte), a substantial share of which arranged status through CIES.
Investment notes: gains and losses are yours
CIES investments follow a gains-and-losses-are-yours principle: if market movements reduce the value of the portfolio, applicants generally do not need to top up to the initial amount — but early withdrawal affects residency eligibility. Assess risk tolerance before investing and consult licensed advisers where needed.
Key industry data
The minimum total investment under the new CIES is HK$30 million.
The residential property qualifying threshold was lowered from HK$50 million to HK$30 million (2025 Policy Address).
The minimum allocation to the Innovation and Technology Support arrangement is HK$3 million.
Hong Kong hosted more than 3,380 single family offices by end-2025 (InvestHK / Deloitte).
China’s wealth management market totalled RMB 179.33 trillion in 2025, second globally (Sina Finance, 2026).
FAQ
Can mainland Chinese residents apply?
Mainland Chinese residents who have already obtained permanent residence in a foreign country fall within the eligible categories; eligibility determination follows the Immigration Department’s published criteria.
Whose announcements govern the eligible assets and details?
The eligible asset list, approval process and transitional arrangements are updated from time to time by the Immigration Department and InvestHK — check the latest official guidance before applying, or consult professional advisers.
Further reading
For the policy context, see the CIES threshold analysis and the 2026 Policy Address preview; for the tax package, see the family office tax concession; for jurisdiction choice, see Hong Kong vs Singapore.