Hong Kong Allows Cryptocurrency As Proof Of Assets For Visa Applications

According to PANews, a spokesperson from Hong Kong's InvestHK has confirmed that cryptocurrencies, including Bitcoin and Ethereum, can be used as proof of assets when applying for the Capital Investment Entrant Scheme visa. Applicants must demonstrate a net asset value of at least HKD 30 million (approximately USD 3.8 million) over a specified period. The valuation report must be signed by a chartered accountant, although there are no specific asset type requirements. A Hong Kong-based accountant shared on social media a successful case where Bitcoin and Ethereum were used as proof of assets for this scheme. Once the visa is approved, applicants are required to reinvest HKD 30 million into what is termed as "permissible assets." However, the InvestHK spokesperson clarified that cryptocurrencies are not considered "permissible assets" under the visa requirements.