Hong Kong immigration authorities now recognise Bitcoin and Ethereum holdings as valid proof of assets for investment immigration applications.
According to local reports, InvestHK—Hong Kong’s agency for Foreign Direct Investment—has approved multiple applications where individuals used cryptocurrency holdings to meet asset requirements for residency.
The individuals applied under the agency’s ‘The New Capital Investment Entrant Scheme,‘ which was established in March 2024 to attract high-net-worth individuals and tech-savvy investors to the region. Applicants must first demonstrate that they hold HK$30 million in assets before committing to invest the same amount in Hong Kong within six months. Approved applicants receive an initial two-year visa, which can be extended if they comply with investment requirements before attaining permanent residency.
Traditionally, the required assets are expected to be real estate, equity, debt securities, and certificates of deposit. Though it remains unclear whether cryptocurrency ETFs or direct crypto investments qualify under the scheme, an individual reportedly got approval for their application on February 7, 2025, using Ethereum worth HK$30 million as proof of assets. Similarly, another applicant was approved in October 2024 after using Bitcoin to meet the same requirement.
Though Singapore has long permitted cryptocurrencies as proof of assets for similar programs, Hong Kong’s approach reportedly has been more accommodating, allowing applicants to store their crypto assets in cold wallets or reputable exchanges like Binance.
This development aligns with Hong Kong’s broader strategy to establish itself as a leading cryptocurrency hub in Asia. Notably, the regional securities regulator, the Securities and Futures Commission (SFC), is expanding its workforce. It is adding eight positions specifically for virtual asset regulation and surveillance. The Commission is also in the final stages of reviewing license applications for multiple crypto services providers, with decisions expected by the end of the first quarter of 2025.
SFC Executive Director Ye Zhiheng revealed that the Commission has completed on-site inspections of nearly all applicant platforms, though not all 11 applicants are guaranteed approval. The stringent review process includes compliance with regulatory requirements, investor protection measures, and security standards.
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