Hong Kong New CIES: 2026 update for high-net-worth applicants

CIES 2026 Key Changes

In March 2026, the Hong Kong Immigration Department issued revised guidelines for the New Capital Investment Entrant Scheme (CIES), introducing adjustments to asset classes, investment thresholds, and family-member definitions. For high-net-worth individuals planning to obtain Hong Kong residency through investment immigration, these changes directly impact application strategy and capital allocation.

The highlight of this revision is the expansion of eligible investment assets. In addition to traditional stocks, bonds, and certificates of deposit, Limited Partnership Fund (LPF) interests, qualifying collective investment schemes, and private equity investments in Hong Kong start-ups are now included. This means applicants can meet the HKD 30 million investment threshold through a more diversified portfolio.

New Eligible Asset Classes

• Hong Kong listed equities and bonds issued by Hong Kong listed companies

• Certificates of deposit with Hong Kong registered banks (capped at HKD 3 million)

• Interests in Hong Kong Limited Partnership Funds (LPFs)

• Qualifying collective investment schemes, including SFC-authorized funds

• Private equity investments in Hong Kong start-ups or technology enterprises

• Commercial or industrial properties located in Hong Kong (capped at HKD 10 million)

Family Inclusion Rules

The 2026 revision further relaxes the definition of accompanying family members. In addition to spouses and unmarried children under 18, the principal applicant's children aged 18 to 25 who are enrolled in full-time study, as well as dependent parents over 60, can be included as dependants. This change significantly enhances CIES's appeal to multi-generational families.

Application Process and Timeline

The complete CIES application process typically comprises six stages: eligibility assessment, document preparation, net asset review, approval-in-principle, investment execution, and formal approval. With complete documentation, the average timeframe from submission to approval-in-principle is approximately 3 to 4 months.

It is worth noting that the Immigration Department's scrutiny of fund sources is becoming increasingly stringent. Applicants must provide clear evidence of fund sources, including tax records, bank statements, and explanations of asset appreciation paths. For applicants who obtained funds through gift or inheritance, additional legal documents and notarization procedures are indispensable.

Practical Recommendations

• Begin organizing asset source documents 6 to 12 months in advance

• Prioritize asset classes with higher liquidity and easier valuation

• Collaborate with immigration lawyers and tax advisors experienced in CIES

• Monitor exchange rate fluctuation risks and arrange currency conversion timing appropriately

As an important policy tool for Hong Kong to attract global talent and capital, CIES rules continue to evolve. Prospective applicants are advised to closely follow the latest announcements from the Immigration Department and develop a personalized application plan with the assistance of professional advisors.