The government announced on Wednesday that it has approved three visa applications under the New Capital Investment Entrant Scheme (CIES) since its launch in March.
The scheme has received approximately 340 applications.
Director of Immigration Benson Kwok stated that authorities are seeking additional ways to facilitate business travel to the city.
“I believe the New CIES will bring new vitality and opportunities to Hong Kong. The Immigration Department will continue to work closely with InvestHK to create an even more business-friendly environment in Hong Kong,” he said in a statement.
Alpha Lau, director-general of InvestHK, highlighted the government’s ongoing efforts to strengthen Hong Kong as a business hub.
“The New CIES brings a vast pool of talent to Hong Kong, attracting successful businessmen and innovative entrepreneurs. With the current application numbers, we expect an investment of over HK$10 billion to enhance the developmental strengths of Hong Kong’s asset and wealth management industry,” she said.
The government also mentioned that 80 applicants have been granted visitor visas to allow them to stay in Hong Kong to make investments.
Applicants are required to invest a minimum of HK$30 million in the SAR’s tech and innovation sectors.