🚀 Hong Kong’s Investment Visa Scheme Embraces BTC & ETH: Crypto-Rich, Welcome Home! 🌆

by

Hong Kong has officially welcomed Bitcoin and Ethereum into its Capital Investment Entrant Scheme (CIES), allowing high-net-worth individuals to use these cryptocurrencies to prove their wealth for residency applications. This move solidifies the city’s status as a global hub for digital assets and investment immigration.

This development further cements Hong Kong’s position as a global hub for digital assets and investment immigration.

BTC and ETH as Proof of Wealth

Under the updated CIES framework, prospective applicants can use Bitcoin and Ethereum holdings as proof of wealth. However, successful applicants must invest at least HK$30 million (approximately $3.8 million) in approved financial assets—excluding cryptocurrencies—after receiving approval. This policy maintains the program’s traditional investment requirements while embracing digital assets for initial verification.

Balancing Innovation with Regulation

Invest Hong Kong, the agency overseeing the program, has emphasized that while Bitcoin and Ethereum can be used for wealth verification, the program maintains strict compliance measures to balance innovation with regulatory standards. This move not only enhances Hong Kong’s attractiveness as an investment destination but also offers new residency opportunities for individuals with significant cryptocurrency holdings.

Verification and Compliance Challenges

The inclusion of cryptocurrency in the CIES has led to a shift in financial documentation requirements. Chartered public accountants in Hong Kong are adapting to the change by developing specialized valuation methods to assess crypto assets accurately. These professionals now require transaction histories, wallet addresses, and other supporting documentation to verify the authenticity and value of Bitcoin and Ethereum holdings.

David Cameron, Managing Partner at David Cameron Law Office (DCLO), noted the rising demand for legal and financial guidance under the new scheme, claiming, 

“Since its launch, we’ve seen significant interest in CIES. As a law firm uniquely placed with immigration law capability, DCLO is well-positioned to guide investors through the process and to help ensure compliance with Hong Kong’s evolving regulations.”

Hong Kong’s Strategic Approach to Crypto Integration

This development aligns with Hong Kong’s broader efforts to position itself as a leading digital asset hub. With regulated crypto platforms already operating in the region, the inclusion of Bitcoin and Ethereum in the CIES demonstrates the government’s progressive stance on cryptocurrency integration into the financial sector.

Since the program’s launch, over 750 individuals have applied, signaling strong interest among crypto-affluent investors. This initiative differentiates Hong Kong from other financial centers like Singapore and Dubai, which have yet to incorporate digital assets into their immigration policies.

Read More

2025-02-12 19:03