Crypto Now Accepted for Hong Kong Investment Visa Proof of Assets
Wealthy individuals looking to apply for Hong Kong’s New Capital Investment Entrant Scheme (CIES) can now use cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) as proof of their net worth.
This marks a notable shift in the territory's approach to investment visa applications.
Previously, only traditional financial assets such as stocks and bonds were allowed for this purpose.
No Specific Asset Type Requirements for Proof of Wealth
According to Invest Hong Kong, the government agency handling foreign investments, applicants for the CIES visa can now use their cryptocurrency holdings to demonstrate they meet the minimum net worth requirement of HK$30 million (approximately $3.8 million).
A spokesperson from agency confirmed that there are no specific asset type requirements.
However, to ensure compliance, applicants must have a certified public accountant sign off on the valuation of their assets, including cryptocurrency holdings.
Real-World Success Stories Using Crypto for Visa Applications
A number of applicants have already successfully used their crypto holdings to meet the CIES asset requirements.
One investor shared his success on xiaohongshu, also known as RedNote, showing that Ethereum had helped him meet the HK$30 million threshold.
Another individual used Bitcoin in October 2024 as part of their application.
The use of digital assets is becoming increasingly accepted as a legitimate means of proving financial capability.
Investment Requirements Still Exclude Crypto for Asset Purchases
While crypto can be used to prove net worth, it cannot be used for the second stage of the visa process, which requires the applicant to invest another HK$30 million in permissible assets within six months of approval.
An Invest Hong Kong spokesperson clarified that cryptocurrencies, including Bitcoin and Ethereum, are not considered "permissible assets" for this part of the process.
Growing Crypto Presence in Hong Kong's Financial Landscape
Hong Kong is continuing to establish itself as a global leader in cryptocurrency regulation and adoption.
The region currently boasts nine licensed virtual asset trading platforms, with several exchanges recently granted licenses.
Additionally, spot Bitcoin and Ethereum exchange-traded funds (ETFs) have been approved in Hong Kong, further solidifying the territory's commitment to fostering a crypto-friendly environment.
Strong Interest in the Capital Investment Entrant Scheme
The CIES scheme, which encourages foreign investment in Hong Kong, has already received over 750 applications.
As some applicants are opting to use cryptocurrency for their visa applications, the scheme has gained attention from wealthy individuals around the world, with more expected to follow suit in the coming months.
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