Hong Kong's investment immigration program has been in place for 10 years. Over the past decade, approximately 18,600 people have been approved to settle in Hong Kong through this program, bringing about 150 billion HKD in funding to the region. However, some Hong Kong media have reported that the investment immigration program has also led to certain side effects that warrant review.
According to a report by the Hong Kong "The Sun" on the 27th, the Hong Kong government launched the "Capital Investment Entrant Scheme" on October 27, 2003, with a minimum investment amount of 6.5 million HKD. In the initial years, only a few hundred applications were received, but this number steadily increased. Seven years later, the government raised the threshold to 10 million HKD and eliminated real estate investments. That year saw a surge in applications, reaching over 6,700, nearly double that of the previous year. As of June this year, there have been approximately 29,000 investment immigration applications, with about 18,600 people officially approved to come to Hong Kong, of which 87% are mainland individuals with foreign permanent resident status.
The investment immigration program has brought a total of 147.8 billion HKD to Hong Kong, of which 105.4 billion HKD was invested in designated financial assets, while the remainder was invested in real estate. Reports indicate that the government may reconsider the investment immigration program this year, although no decisions have been made yet. There are rumors that the threshold will be raised again.
The Hong Kong "Oriental Daily" commented on the 27th that the government introduced the investment immigration program to escape the economic downturn following the "SARS" outbreak. The program has played a certain role in helping Hong Kong recover from the "SARS" low point, but it has also triggered some social issues, particularly the rise in prices and property costs, which are the most controversial aspects.
The article suggests that the government recently released a consultation document on population policy, which should consider not only the review of overseas talent and quality talent input but also the investment immigration program. The competition in the 21st century is a competition for talent, which is more important than financial resources.
