With the arrival of 2014, the changes in Hong Kong's investment immigration policies are becoming increasingly imminent. The Capital Investment Entrant Scheme has been in effect since October 2003, and it has gained significant attention and popularity in recent years.
Looking back at the "past and present" of this program, it has been quite eventful. The Hong Kong government initiated the Capital Investment Entrant Scheme to stimulate the economy and attract investment. The initial response was lukewarm, with only over 400 applications that year and fewer than 300 approvals. Even in the fourth year, the number of applications did not reach 1,000. However, the first batch of investors gradually began to reap the benefits. Those who purchased Hong Kong real estate and financial investment products at low prices during that time saw their investments multiply in value. The number of applicants in 2007 more than doubled compared to the previous year, and in 2008, it surged to more than three times the number in 2006.
Just as the influx of applicants was peaking, in October 2010, the Hong Kong government announced policy adjustments in its policy address, raising the investment threshold from HKD 6.5 million to HKD 10 million and removing the highly popular real estate investment category from the list of eligible investments, allowing only specified financial products for investment. Following this policy announcement, the market cooled temporarily, and some individuals reassessed the value of investing in Hong Kong for residency. Despite the reduced enthusiasm, the demand from investors with rigid needs remained strong, and in recent years, application records have been broken almost every year.
In 2012, the number of applications accepted for Hong Kong investment immigration returned to 6,508, nearly matching the record set in 2010 during the "last call". Entering 2013, the Hong Kong investment immigration program continued to gain momentum. According to statistics released by the Hong Kong Immigration Department last month, the number of applications received from January to September last year was 6,492, catching up to the total number received in 2012. Industry expectations generally predict that the total number of applications received in 2013 will absolutely set a new historical high.
On January 15, 2014, the Hong Kong government will announce specific new policies for investment immigration in its policy address for the new year. Adjustments may include raising the investment threshold again; imposing residency requirements or restrictions on applicants from third countries, such as requiring them to have resided in a permanent residency country or have a history of residence; and raising the qualification requirements for applicants, such as education and language proficiency, and even possibly implementing a quota system.
