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Hongkong Capital Investment Entrant Scheme


Introduction
This website aims at providing general information on the eligibility criteria and entry arrangements under the Capital Investment Entrant Scheme (the Scheme). It is not legally binding. The Immigration Department of the Hong Kong Special Administrative Region (Immigration Department) may revise the information according to changes in circumstances without prior notice. Any person who wishes to submit application under the Scheme may make enquiry with the Immigration Department for up-to-date information.

Objective
The objective of the Scheme is to facilitate the entry for residence by capital investment entrants (the entrant), i.e. persons who make capital investment in Hong Kong but would not be engaged in the running of any business here. The entrant is allowed to make his choice of investments amongst permissible assets without the need to establish or join in a business.

Eligibility Criteria
To qualify for admission under the Scheme, the entrant must :
1.be aged 18 or above when applying for entry under the Scheme;
2.have net assets of not less than HK$6.5 million to which he is absolutely beneficially entitled throughout the two years preceding his application;
3.have invested within six months before submission of his application to the Immigration Department, or will invest within six months after the granting of approval in principle by the Immigration Department, not less than HK$6.5 million in permissible investment asset classes (except Certificates of Deposit which must be invested within the latter period) as detailed in page "Permissible Investment Asset Classes";
4.have no adverse record both in Hong Kong and country/region of residence;
5.be able to demonstrate that he is capable of supporting and accommodating himself and his dependants, if any, on his own without relying on any return on the permissible investment assets, employment or public assistance in Hong Kong.

Permissible Investment Asset Classes
The entrant should invest not less than HK$6.5 million in either or both of the following two permissible investment asset classes:

Real estate
The entrant may invest in commercial, industrial or residential properties, including land and pre-completion properties in Hong Kong. There is no restriction on the number of properties bought for the purpose of the Scheme.

 Financial assets
The entrant may invest in one or a combination of the following types of financial assets:
1.Equities - shares of companies that are listed on the Hong Kong Stock Exchange and traded in Hong Kong dollars.

2.Debt securities - denominated in Hong Kong dollars including fixed or floating rate instruments and convertible bonds which are issued or fully guaranteed by the HKSAR Government, the Exchange Fund, the Hong Kong Mortgage Corporation, MTR Corporation Limited, Kowloon-Canton Railway Corporation, Hong Kong Airport Authority and other corporations, agencies or bodies wholly or partly owned by the HKSAR Government as may be specified from time to time; or by companies referred to under (A) above.

3.Certificates of Deposits - denominated in Hong Kong dollars issued by authorized institutions as defined in the Banking Ordinance with a remaining term to maturity of not less than twelve months at the time of purchase (such purchase should take place after approval in principle has been given by the Immigration Department for the entrant to join the Scheme and that such instruments, on reaching maturity, should be replaced by Certificates of Deposits with a remaining term to maturity of not less than twelve months or by assets in other permissible investment asset classes).

4.Subordinated debt - denominated in Hong Kong dollars issued by authorized institutions under paragraphs 3(k) and 3(m) of the 3rd Schedule to the Banking Ordinance.

5.Eligible Collective Investment Schemes Note - for the purpose of the Scheme as published and updated in the Immigration Department's website from time to time .

Permissible Investment Asset Classes listed above are subject to change without prior notice. Entrants who wish to submit applications under the Scheme may refer to the Immigration Department's website regularly for up-to-date information.

Note: An Eligible Collective Investment Scheme under the Scheme should be managed by a corporation licensed under Part V of the Securities and Futures Ordinance and invested as to at least 70% of its average net assets in permissible investment assets as specified in paragraphs (I) or (II) (A) - (D) above. An Eligible Collective Investment Scheme may be domiciled in Hong Kong or elsewhere, but it must be denominated in Hong Kong dollars and it must be a fund authorized by the Securities and Futures Commission for sale to the public in Hong Kong.

Change in Value of Investment
The entrant is not required to top up the value of his investment in either asset class should the value of his total investment under the Scheme fall below the requisite minimum level of HK$6.5 million. He is also not allowed to withdraw any capital gain from his investment if its market value rises above the requisite level. Rental income from the qualifying property and cash dividend income and interest income derived from permissible financial assets can be retained by the entrant and need not be ring-fenced under the Scheme. The entrant is free to switch his investments from one permissible asset class to another (e.g. from real estate to financial assets or vice versa) provided that the entire proceeds from the sale of the initial assets are reinvested. He should keep a record of every change to his investment portfolio for the purpose of applying for extension of stay in Hong Kong.

Entry Arrangements
A successful entrant, and his dependant(s) if any, will be issued with a visa / entry permit to be collected from the Immigration Department by himself or through his local reference in Hong Kong for onward transmission to him. The visa label should be affixed onto a blank visa page of the entrant's travel document for presentation to the immigration officer upon arrival in Hong Kong. If the entrant has no proper travel document acceptable for traveling to Hong Kong, an entry permit will be issued instead. The same entry arrangements will apply to the entrant's dependants.

CONTACT US
For further queries, you are welcome to visit ATAHK website www.3737580.net or email to atahkhk@21cn.com / ata-cfmp@hotmail.com or contact any of the following branches, thank you.
HONGKONG TEL:852-27837818         SHENZHEN TEL:86-755-82143272
BEIJING TEL:86-10-58674409              SHANGHAI TEL:86-21-58763186 
GUANGZHOU TEL:86-20-87550061    YIWU TEL:86-579-85206707 
CHENGDU TEL:86-28-86676605         QUANZHOU TEL:86-595-22515909

ATA——Global Corporate Solution Provider,Value Investment & Strategic Development.

 
Source: Author: Time:2009-2-1
 
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