Hong Kong's Investor Visa Scheme Tops HK$95 Billion, Adds New Route Into Family Office Structures

Two years after its relaunch, Hong Kong's Capital Investment Entrant Scheme has drawn over 3,100 applications worth an anticipated HK$95 billion, and a rule change from 1 March 2026 now lets qualifying applicants channel that capital directly into a family office holding structure.

TL;DR

• As at 28 February 2026, Hong Kong's New Capital Investment Entrant Scheme (New CIES) had received 3,166 applications since its March 2024 relaunch, with 1,762 fully approved and an anticipated HK$95 billion in investment, per InvestHK and the Immigration Department.
• From 1 March 2026, applicants can hold their CIES investments through a private holding company with no minimum incorporation period, but only if it is structured as a Family-owned Investment Holding Vehicle (FIHV) managed by an Eligible Single Family Office (ESFO) with at least HK$240 million in assets under management, two full-time Hong Kong staff and HK$2 million in annual local operating expenditure.
• The change formally links the residency scheme to Hong Kong's family office tax concession regime, though there is not yet public data on how many applicants are using the new holding-company route.

What is Hong Kong's New Capital Investment Entrant Scheme?

The New Capital Investment Entrant Scheme (New CIES) is Hong Kong's residency-by-investment programme. Relaunched on 1 March 2024 after the original scheme was suspended in 2015, it requires an applicant to invest a minimum of HK$30 million in permissible assets, including Securities and Futures Commission (SFC)-authorised funds, listed equities, debt securities and investment-linked assurance products, in exchange for a path to Hong Kong residency. Invest Hong Kong (InvestHK), the government's inward-investment agency, processes applications jointly with the Immigration Department (ImmD).

How many people have applied, and how much capital is involved?

As at 28 February 2026, InvestHK had received 3,166 applications since launch, of which 1,762 had completed their investment and received formal approval from the ImmD, according to a government press release marking the scheme's two-year milestone. The anticipated total investment value across all applications stands at about HK$95 billion (roughly US$12.2 billion). That figure represents intended, not necessarily deployed, capital: of the amount InvestHK has actually verified against the investment requirements, HK$55.6 billion, a smaller but still substantial sum.

Where is the verified investment actually going?

Of that verified HK$55.6 billion, SFC-authorised funds account for the largest share at HK$21.4 billion (38.6%), followed by equities at HK$16.1 billion (29.0%). Investment-linked assurance schemes and the government-run CIES Investment Portfolio each take roughly 9.9%, debt securities 9.5%, and other permissible assets 3.2%. Notably, despite residential property being an eligible asset class, independent reporting has found no CIES applicant to date has deployed capital into residential real estate.

What changed on 1 March 2026, and why does it matter for family offices?

From 1 March 2026, an applicant can hold CIES investments through a private company with no minimum incorporation period, removing an earlier requirement. The concession only applies if the vehicle is a Family-owned Investment Holding Vehicle (FIHV), or an entity under one, that keeps at least two full-time staff in Hong Kong, spends at least HK$2 million a year locally, and is managed by an Eligible Single Family Office (ESFO) overseeing family assets of at least HK$240 million. In practice, this lets a CIES applicant route their investment holdings into the same structure that can separately qualify for Hong Kong's FIHV profits tax concession, administered under the Inland Revenue Ordinance, effectively pairing a residency application with a family office set-up. It follows an earlier change, effective 1 March 2025, that cut the minimum asset look-back period from two years to six months and allowed joint family asset ownership to count toward the HK$30 million threshold.

How does two years of New CIES compare with the government's original forecast?

When officials unveiled scheme details in late 2023, Secretary for Financial Services and the Treasury Christopher Hui projected roughly 4,000 applicants and HK$120 billion in investment annually. Two years' cumulative applications (3,166) remain below that annual benchmark, though growth has clearly accelerated: year two produced 2,248 applications versus year one's 918, a jump concentrated after the March 2025 rule change.

Why it matters

For family offices already active or considering Hong Kong, this closes a gap between two previously separate policy tracks, the immigration scheme and the tax concession regime, into a single structure. It is not, however, a shortcut around the FIHV/ESFO qualifying conditions, which remain unchanged and carry real substance requirements: staffing, local spend, minimum AUM. Family offices evaluating this route should treat the March 2026 change as a structuring option to discuss with tax and immigration advisers, not as new tax relief in itself. This article reports the facts as published; it is not tax, legal or immigration advice.

FAQs

Is the HK$95 billion figure money that has already entered Hong Kong?

Not entirely. HK$95 billion is InvestHK's anticipated investment value across all 3,166 applications received. Of that, InvestHK had verified HK$55.6 billion as actually meeting investment requirements as at 28 February 2026.

Does the 1 March 2026 change reduce the minimum investment for New CIES?

No. The HK$30 million minimum investment requirement is unchanged. What changed is the flexibility around holding that investment through a newly incorporated private company, provided it meets the FIHV/ESFO conditions described above.

Can any private company be used under the new holding-company rule?

No. It must be a Family-owned Investment Holding Vehicle (or a Family-owned Special Purpose Entity under one), incorporated in Hong Kong, wholly owned by the applicant, used exclusively for permissible investment assets, and managed by an Eligible Single Family Office meeting the HK$240 million asset threshold and local substance requirements.

Sources and Method

This article is based on the HKSAR Government's press release of 2 March 2026 marking the New CIES two-year milestone (info.gov.hk), the FamilyOfficeHK/InvestHK page on New CIES enhancement measures, and the official New CIES scheme site (newcies.gov.hk), cross-checked against independent reporting from finews.asia and IMI Daily, a specialist investment-migration publication, both published in March 2026. Figures are quoted as of the government's stated reference date, 28 February 2026; no figures have been extrapolated or estimated by this publication.