Hong Kong continues to solidify its position as a forward-thinking financial hub with a groundbreaking shift in its investment immigration framework. In early 2025, the city approved its first successful investment immigration application using 30 million HKD worth of Ethereum (ETH) as asset proof — a milestone that signals Hong Kong’s bold embrace of digital assets. This follows last year’s pilot acceptance of Bitcoin and marks a strategic leap in integrating cryptocurrency into formal financial systems.
To unpack the implications of this transformative policy, we bring expert insights from Mr. Chan Ka Hin, Chief Policy Advisor at the Hong Kong Investment Immigration Financial Professionals Association and Founder & CEO of Ziyu Advisory. His analysis reveals how Hong Kong is redefining global standards for crypto-friendly regulation and investor mobility.
Why Hong Kong’s Crypto-Inclusive Policy Matters
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The inclusion of virtual currencies like Bitcoin and Ethereum in Hong Kong’s investment immigration program is more than just a regulatory update — it's a strategic declaration. As Mr. Chan explains, this move underscores Hong Kong’s commitment to financial innovation, inclusivity, and competitiveness on the world stage.
“This breakthrough reflects Hong Kong’s vision as an international financial center that embraces technological evolution,” says Chan. “It opens new pathways for high-net-worth individuals (HNWIs) who hold significant digital assets but may lack traditional paper trails.”
Unlike many jurisdictions that demand exhaustive source-of-funds documentation, Hong Kong’s New Capital Investor Entrants Scheme (CIES) focuses on current asset ownership rather than historical wealth accumulation. Applicants must demonstrate ownership of at least 30 million HKD in qualifying assets, jointly or individually with their spouse — with no requirement to disclose detailed fund origins.
This pragmatic approach significantly lowers barriers for entrepreneurs, tech founders, and crypto investors whose wealth stems from decentralized or non-traditional economies.
How Virtual Assets Qualify Under the New Rules
While direct holdings in cold wallets aren’t accepted, Hong Kong has created a compliant pathway through regulated exchanges. To use crypto assets for investment immigration:
- The digital assets must be held via Hong Kong-licensed exchanges.
- Investors must provide official monthly statements from these platforms.
- Assets such as Bitcoin (BTC), Ethereum (ETH), and USDT can qualify if acquired through approved financial instruments like exchange-traded funds (ETFs) listed on the Hong Kong Stock Exchange or traded via licensed brokers (e.g., Futu Securities).
Notably, U.S.-listed ETFs do not meet eligibility criteria — reinforcing Hong Kong’s emphasis on local regulatory oversight.
“This isn’t about accepting any crypto anywhere,” emphasizes Chan. “It’s about bringing digital wealth into a transparent, regulated ecosystem where ownership can be verified and monitored.”
By requiring transactions through regulated channels, Hong Kong ensures KYC/AML compliance, enhances traceability, and aligns virtual asset usage with global anti-money laundering standards.
Flexible Residency Paths and Asset Recognition Framework
One of the most attractive features of Hong Kong’s program is its dual-track residency model:
- Temporary residency: No physical residence requirement; ideal for global entrepreneurs maintaining operations abroad.
- Permanent residency and citizenship: Requires fulfillment of standard 7-year continuous residence rules.
Applicants benefit from a “pre-approval first, invest later” system. After submitting asset proofs and application forms, they receive conditional approval within 180 days, during which time they must complete the required investment.
Crucially, existing qualifying assets cannot be directly counted toward the investment mandate. For example, holding stocks in a Hong Kong-listed company doesn’t fulfill the requirement unless those assets are liquidated and reinvested according to the scheme’s guidelines.
This “sell-then-buy” mechanism ensures:
- Fresh capital injection into the local economy.
- Full audit trail of investment flows.
- Compliance with anti-circumvention safeguards.
Moreover, asset aggregation is permitted across borders — meaning investors can combine property in Australia, equities in mainland China, and cash in U.S. accounts, provided the total meets or exceeds 30 million HKD.
Hong Kong vs. Singapore: Key Differences That Matter
When comparing major Asian financial hubs, Hong Kong’s approach stands out for its flexibility and pragmatism:
| Focus Area | Hong Kong | Singapore |
|---|---|---|
| Asset Source Proof | Not required | Full source-of-funds documentation needed |
| Crypto as Investment | Recognized asset class | Only accepted as asset proof |
| Compliance Enforcement | Account closure with fund return | Risk of freezing or seizure |
These distinctions make Hong Kong particularly appealing to founders and self-made crypto millionaires who may struggle to produce decades-old financial records.
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“Many successful blockchain entrepreneurs built their wealth rapidly in unregulated environments,” notes Chan. “Hong Kong acknowledges this reality without compromising regulatory integrity.”
Will Crypto Become Mainstream in Investment Migration?
While still in early adoption phases, the trajectory is clear: digital assets are becoming legitimate tools for cross-border mobility.
Technical challenges remain — particularly around proving long-term ownership of decentralized assets. The industry often refers to this as the “coins you can move, but cash you can’t explain” dilemma. Yet Hong Kong’s framework directly addresses this by mandating exchange-based verification over two years.
From a regulatory perspective, this policy creates a positive feedback loop:
- Drives volume to licensed exchanges.
- Strengthens investor protection.
- Encourages institutional participation.
Market trends support further expansion. With increasing institutional adoption of crypto ETFs and growing government interest in CBDCs, more jurisdictions may follow Hong Kong’s lead.
“We’re seeing strong signals that Hong Kong wants to capture leadership in the digital asset economy,” says Chan. “This isn’t just about attracting capital — it’s about shaping the future of finance.”
Frequently Asked Questions (FAQ)
Q: Can I use my personal crypto wallet for asset proof?
A: No. Only holdings on Hong Kong-licensed exchanges with official monthly statements are accepted. Cold wallet balances cannot be verified under current rules.
Q: Do I need to live in Hong Kong after approval?
A: For temporary residency, no physical stay is required. However, obtaining permanent residency and a passport requires fulfilling the 7-year continuous residence rule.
Q: Can I count my existing stock portfolio toward the investment?
A: Only if you sell it first and reinvest the proceeds into qualifying products under the CIES guidelines. Direct holdings don’t count.
Q: Are stablecoins like USDT eligible?
A: Yes — provided they’re held through a regulated Hong Kong exchange and accompanied by verifiable transaction records.
Q: What happens if I fail to invest within 180 days?
A: The conditional visa expires, and you’ll need to restart the application process. However, there’s no penalty beyond administrative delays.
Q: Is this policy likely to change in 2025?
A: As of February 2025, the policy remains stable. Notably, the asset holding period will shorten from two years to six months, improving accessibility.
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Hong Kong’s bold integration of virtual currencies into its investment immigration regime sets a new benchmark for financial innovation. By balancing openness with regulation, it offers a compelling model for other nations navigating the rise of digital wealth.
For forward-looking investors, this isn’t just a residency option — it’s a gateway to the future of finance.
Note: Information accurate as of February 2025. Always consult official Hong Kong government sources and professional advisors before making decisions.