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New Capital Investment Entrant Scheme

The "New Capital Investment Entrant Scheme("CIES")" was launched on 1 March 2024, allowing applicants to make capital investment in the form of financial assets, in order to obtain qualifications for relocating to Hong Kong.

An eligible applicant must make investment of a minimum of HKD30 million in the permissible investment assets, including investing a minimum of HKD27 million in permissible financial assets and/or non-residential real estate, and placing HKD3 million into a new CIES Investment Portfolio("CIES IP"), with a view to supporting the development of innovation and technology industries and other strategic industries that are beneficial to the long term development of Hong Kong's economy.

Scope

  • Foreign nationals (Nationals of Afghanistan, Cuba, and Democratic People's Republic of Korea are excluded)
  • Chinese nationals who have obtained permanent resident status in a foreign country
  • Macao Special Administrative Region residents
  • Chinese residents of Taiwan

Eligibility Criteria

  • Aged 18 or above
  • Have net assets of not less than HKD30 million (or equivalent in foreign currencies) throughout the two years preceding the application
  • Make investment of not less than HKD30 million net (or equivalent in foreign currencies) in the Permissible Investment Assets
  • No adverse immigration record
  • Capable of supporting and accommodating himself and his dependents (if any)

Permissible Investment Asset Classes

Applicants are required to invest a minimum of HKD27 million in any of the following Permissible Investment Assets:

Permissible Financial Assets Equities
  • Shares of companies that are listed on the Stock Exchange of Hong Kong (SEHK) and traded in Hong Kong Dollars ("HKD") or Renminbi ("RMB")
Debt Securities
  • Debt securities listed on the SEHK and traded in HKD or RMB (including debt instruments issued in Hong Kong by the Ministry of Finance of the People's Republic of China and local people's governments in the Mainland)
  • Debt securities denominated in HKD or RMB, including fixed or floating rate instruments and convertible bonds issued or fully guaranteed by:
    • The HKSAR Government, the Exchange Fund, the Hong Kong Mortgage Corporation, the MTR Corporation Limited, 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 by the HKSAR Government; or
    • Listed companies as referred to the above 'Equities' category
Certificate of Deposits (CDs)
  • CDs denominated in HKD or RMB issued by authorised institutions1 with a remaining term to maturity of not less than 12 months at the time of acquisition, subject to a cap of 10% of the minimum investment threshold (i.e. HK$30 million). The acquisition must take place after Approval-in-Principle has been granted by the DoI and thereafter the Applicant/Entrant be absolutely beneficially entitled to the invested certificates of deposits through its term
Subordinated Debt
  • Subordinated debt denominated in HKD or RMB issued by authorised institutions1 in compliance with Schedules 4B and 4C of the Banking (Capital) Rules
Eligible Collective Investment Schemes
  • Securities and Futures Commission (SFC)-authorised funds managed by Type 9 (asset management) licensed entities
  • SFC-authorised real estate investment trusts (REITs) managed by Type 9 licensed entities
  • SFC-authorised Investment-Linked Assurance Schemes issued by insurers permitted2 
  • Registered open-ended fund companies (OFCs) managed by Type 9 licensed entities
Limited Partnerships Funds (LPFs)
  • Ownership interest in LPFs registered under the Limited Partnership Fund Ordinance (Cap. 637 of the Laws of Hong Kong)
Non-Residential Real Estate3
  • Non-residential real estate, whether commercial and/or industrial (including pre-completion properties covering offices, commercial premises, retail premises and factories and excluding land and multi-purpose real estate partly for residential purposes) in Hong Kong, subject to cap of HK$10 million

Separately, each Applicant under the Scheme is required to place HK$3 million into a new CIES IP. The CIES IP will make investment in companies/projects with a Hong Kong nexus, with a view to supporting the development of innovation and technology industries and other strategic industries that are beneficial to the long term development of Hong Kong's economy.

Remarks:

  1. Defined in the Banking Ordinance (Cap. 155 of the Laws of Hong Kong)
  2. Permitted insurers can carry on Class C business as specified in Part 2 of Schedule 1 to the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong)
  3. Non-residential real estate means "non-residential property" defined in section 29A the Stamp Duty Ordinance (Cap. 117 of the Laws of Hong Kong)

How can Shanghai Commercial Bank help?

Our experienced team offers tailor-made financial solutions for growing wealth. With our strong branch network in Hong Kong, Shanghai, Shenzhen, US, UK etc, allowing you to enjoy our privileged services wherever may go, in the hope of offering diverse product options and quality banking and financial services.

If you have any enquiries, please contact us via the following channels. Our staff will do their best to help.

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Disclaimer

  • The Bank, its subsidiaries and employees will not provide any tax, legal, accounting or immigration advice or consultation. If you have any enquiries, please consult New Capital Investment Entrant Scheme Office or independent tax, legal, accounting and immigration consultants for advice.
  • The information provided herein is intended as a general guide for reference. For more information, please visit the website of the New CIES Office (https://www.newcies.gov.hk/en/index.html)or contact our staffs for assistance if in doubt.
  • The information contained in this document is not for the purpose of providing investment advice and does not constitute any offer, invitation, advice or recommendation for any transactions with any persons.

 

Risk Disclosure

- Investment involves risks. Terms and Conditions are applied. The information contained in this document is not for the purpose of providing investment advice and does not constitute any offer, invitation, advice or recommendation for any transactions with any persons. Customers should read and fully understand all the relevant documents for detailed information before making any investment decisions. The information of this document has not been reviewed by the Securities and Futures Commission of Hong Kong ("SFC") or any regulatory authorities in Hong Kong.
- The products described herein may not be suitable for all people. If customers have any doubt about this material or any relevant offering document, they should consult their own independent advisers on the legal, regulatory, tax, investment and financial implications of the investments (including but not limited to estate duty and withholding tax and other tax obligations which may arise from local or foreign investment) as they deem appropriate to ensure that they understand the nature of the investments in order to consider whether the investments are suitable investments for them.
- Exchange and RENMINBI Currency Risk: Foreign currency investments are subject to exchange rate fluctuations which may result in losses. If the investment is denominated in a foreign currency or invest in assets denominated in a currency other than the base currency, you may face an exchange rate risk or exchange controls or any other restrictions which the return or amount you receive after redemption may be reduced. The fluctuation in the exchange rate of foreign currency may result in losses in the event that customer converts the foreign currency into Hong Kong dollars or other foreign currencies. If RENMINBI is involved in the investment product(s), offshore RENMINBI exchange rate will be quoted. The offshore RENMINBI exchange rate may be at a premium or discount to the exchange rate for onshore RENMINBI and there may be significant bid and offer spreads. RENMINBI is subject to exchange rate risk, RENMINBI is currently not freely convertible. Customers should be aware that they can conduct conversion of RENMINBI through bank accounts, for which it is subject to the requirements specified by the Relevant Authorities from time to time (the requirements may amend from time to time without any prior notice) the requirements specified by the Bank and/or the RMB position and commercial decisions of the Bank at that moment.
- Investment Risk in investment funds: The prices of investment funds fluctuate, sometimes dramatically. The price of an investment fund may go up or down and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling investment funds. Investment involves risks. Any past performance figures shown are not indicative of futures performance. Part of the investment may not be able to liquidate immediately under certain market situation. Customers should refer to relevant investment fund offering documents for detailed information, including but not limited to Risk Disclosures, prior to any investment fund subscription. Customers should carefully consider whether any investment products or services mentioned herein are appropriate for them in view of their financial situations, investment experiences and investment objectives. Please refer to explanatory memorandum or relevant materials of the fund for further information. The subscription of investment fund is subjected to prevailing regulatory requirements and restrictions and relevant terms and conditions of the Bank. The Bank acts as a distributor of the funds managed by fund houses and the funds are the product of the third party fund houses. For distribution of funds – in respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customers out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customers.
- Investment Risk in Bonds / Certificates of Deposit ("CDs"): Bond / CDs are investments products and not bank deposits, nor should it be treated as time deposit or a substitute. It is not protected by the Deposit Protection Scheme in Hong Kong and involve risks, including the possible loss of the principal amount invested. Customers should be aware of the risk of exchange rate fluctuations for bonds / CDs denominated in non-local currency, which may cause a loss of principal. Unless specified, these investments are not guaranteed by the Bank. The prices of bonds / CDs fluctuate, sometimes dramatically. The price of bonds / CDs may go up or down and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of subscribing and redeeming bonds. Investment involves risks. Any past performance figures shown are not indicative of future performance, which the Bank does not guarantee the existence of a secondary market for bonds / CDs. Part of the investment may not be able to liquidate immediately under certain market situation. Customers should refer to relevant bonds offering documents for detailed information, including but not limited to Risk Disclosures, prior to any bonds / CDs subscription.
- Investment Risk in Securities: The prices of securities may fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities. Investment involves risks. Any past performance figures shown are not indicative of futures performance. Part of the investment may not able to liquidate immediately under certain market situation. Customers must ensure to read and understand the information of Shanghai or Shenzhen Connect A-shares trading of the Bank including relevant details, trading rules, risk, fees, restriction and notices before investing in Shanghai and Shenzhen Connect A-shares trading.
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