Suspension of the Capital Investment Entrant Scheme

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Q1: When will the Capital Investment Entrant Scheme be suspended?

The Government has announced that the Capital Investment Entrant Scheme (the Scheme) would be suspended with effect from 15 January 2015 (“suspension date”) until further notice.  The suspension will not affect applications received before the suspension date, whether already approved (including approval-in-principle and formal approval) or still being processed.

Q2: Will the suspension affect applications submitted before the suspension date?

The date of receipt by the Immigration Department will be taken as the date of application. In the case of post-in application, the postmark shown on the envelope will be taken as the date of application.  The suspension will not affect applications received before the suspension date, whether already approved (including approval-in-principle and formal approval) or still being processed. The Immigration Department will continue to process these applications under the Rules for the Scheme (Scheme Rules).

Q3: Will the suspension affect applications approved before the suspension date?

The suspension will not affect applications approved (including approval-in-principle and formal approval) before the suspension date.  These cases are still subject to the Scheme Rules.

Q4: What is the “transitional arrangement” after the suspension of the Scheme?

According to existing Scheme Rules, applications will be accepted if they involve investment of no less than HK$10 million in permissible investment assets made within six months immediately before the application date and such applications are made within six months of the investment.  In line with the above and as a transitional arrangement, applications will be accepted after the suspension date if they involve investment of no less than HK$10 million made within six months immediately before the suspension date and such applications are made within six months of the investment, subject to the applicant meeting the other eligibility criteria under the Scheme.

Unless with the approval-in-principle, investment completed on or after the suspension date, or more than six months before the date of application, will not be accepted as the permissible investment assets under the Scheme, regardless of the amount.

Q5: If I submit my application after the suspension date, but have not made any investment, how will the Immigration Department handle my application?

Since you have not invested no less than HK$10 million in permissible investment assets within six months immediately before the suspension date and the application was submitted after the suspension date, the application would not be accepted as it did not fulfil the requirements of the “transitional arrangement”.

Q6: If I submit my application after the suspension date, but have completed investment of less than HK$10 million before the suspension date and the remaining investment after the suspension date, how will the Immigration Department handle my application?

Unless with the approval-in-principle, any investment completed on or after the suspension date will not be accepted as permissible investment assets under the Scheme, regardless of the amount.

Since you have not invested no less than HK$10 million in permissible investment assets within six months immediately before the suspension date and the application was submitted after the suspension date, the application would not be accepted as it did not fulfil the requirements of the “transitional arrangement”.

Q7: Can you provide some examples about the “transitional arrangement”?

The Government has announced that the Capital Investment Entrant Scheme (the Scheme) would be suspended with effect from 15 January 2015 (“suspension date”).  The suspension will not affect applications received before the suspension date, whether already approved (including approval-in-principle and formal approval) or still being processed.

According to existing Scheme Rules, applications will be accepted if they involve investment of no less than HK$10 million in permissible investment assets made within six months immediately before the application date and such applications are made within six months of the investment.  In line with the above and as a transitional arrangement, applications will be accepted after the suspension date if they involve investment of no less than HK$10 million made within six months immediately before the suspension date and such applications are made within six months of the investment, subject to the applicant meeting the other eligibility criteria under the Scheme.  Unless with the approval-in-principle, investment completed on or after the suspension date, or more than six months before the date of application, will not be accepted as permissible investment assets under the Scheme, regardless of the amount.

The requirements of the “transitional arrangement” are illustrated in the following examples.

Example 1:  The Immigration Department received the application on 30 April 2015.  The supporting documents provided indicated that the applicant completed investment of HK$10 million on 15 December 2014 in one go.

Since the applicant has completed investment of no less than HK$10 million in permissible investment assets before the suspension date and the relevant investment was completed within six months before the date of application, the application would still be accepted as it fulfilled the requirements of the “transitional arrangement”.  According to the “transitional arrangement”, the application would still be accepted if it is submitted on or before 15 June 2015.

Example 2:  The Immigration Department received the application on 30 April 2015.  The supporting documents provided indicated that the applicant completed investment of HK$2 million on 10 November 2014 (“1st Investment”), HK$3 million on 15 December 2014 (“2nd Investment”) and HK$5 million on 5 January 2015 (“3rd Investment”).

Since the applicant has completed investment of HK$10 million in total in permissible investment assets before the suspension date and all the three relevant investments were completed within six months before the date of application, the application would still be accepted as it fulfilled the requirements of the “transitional arrangement”.  According to the “transitional arrangement”, the application would still be accepted if it is submitted on or before 10 May 2015.

Example 3:      The Immigration Department received the application on 30 April 2015.  The supporting documents provided indicated that the applicant completed investment of HK$10 million on 20 January 2015 in one go.

Unless with the approval-in-principle, investment completed on or after the suspension date will not be accepted as permissible investment assets under the Scheme, regardless of the amount.  The application would not be accepted as it did not fulfil the requirements of the “transitional arrangement”.     

Example 4:      The Immigration Department received the application on 30 April 2015.  The supporting documents provided indicated that the applicant completed investment of HK$2 million on 15 September 2014 (“1st Investment”), HK$3 million on 15 December 2014 (“2nd Investment”) and HK$5 million on 5 January 2015 (“3rd Investment”).

Since the 1st Investment was completed more than six months before the date of application while the 2nd Investment and the 3rd Investment, amounting to HK$8 million in total, was less than HK$10 million, the application would not be accepted as it did not fulfil the requirements of the “transitional arrangement”.

transitional arrangement

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