Hong Kong New CIES 2026: Two-Stage Application Timeline and Residence Condition

The Hong Kong New Capital Investment Entrant Scheme (New CIES) runs in two stages, and each stage ends with a document from Invest Hong Kong (InvestHK). You apply to InvestHK for a net asset assessment first, then to the Immigration Department (ImmD) for entry; ImmD issues a visa or entry permit that lets you enter Hong Kong as a visitor for not more than 180 days to make the committed investment, and once InvestHK confirms that investment, formal approval brings permission to stay for not more than 24 months. As of the October 2026 version of the Immigration Department’s New Capital Investment Entrant Scheme Frequently Asked Questions page, that is the sequence the department sets out.

Who has to apply to InvestHK first, and what does the first stage check?

Before you submit anything to ImmD, you must go to InvestHK to have your net assets verified. InvestHK checks that you are absolutely beneficially entitled to net assets or net equity with a market value of not less than HK$30 million (or the equivalent in foreign currencies), and that you held that level throughout the six months before you lodged the application for net asset assessment. Jointly owned assets count to the extent of your own absolutely beneficially entitled portion, as set out in the New Scheme Rules.

The eligibility criteria themselves also sit in this first stage. You must be 18 or above when you apply for the net asset assessment, and you must fall into one of the covered categories: foreign nationals, Chinese nationals who have obtained permanent resident status in a foreign country, Macao Special Administrative Region residents, or Chinese residents of Taiwan. Nationals of Afghanistan, Cuba and the Democratic People’s Republic of Korea are excluded, and the Security Bureau and ImmD review that list from time to time; stateless persons who hold permanent resident status in a foreign country with proven re-entry facilities are eligible.

Two further conditions apply to the entry application itself. You must show you have no adverse immigration record and meet normal immigration and security requirements. You must also show ImmD that you can support and accommodate yourself and any dependants without relying on returns from the permissible investment assets, on employment or self-employment, on an office or business, or on public assistance in Hong Kong.

What does the two-stage sequence look like side by side?

	Stage one: net asset check	Stage two: investment check
Who assesses	InvestHK	InvestHK
What you must show	Net assets or net equity of not less than HK$30 million, held throughout the six months before you apply for the assessment	Not less than HK$30 million invested in permissible investment assets, made on or after the scheme launch date
What you receive	Certifying Proof for Fulfillment of Net Asset Requirement	Certifying Proof for Fulfillment of Investment Requirements
What you must do next	Apply to ImmD for a visa or entry permit within the validity period of the proof	Give the proof to ImmD within its validity period so assessment resumes
What ImmD grants	Approval-in-principle, then a visa or entry permit to enter Hong Kong as a visitor for not more than 180 days	Formal approval, with permission to stay for not more than 24 months

How long do you get to make the investment?

The 180-day period begins with approval-in-principle. After ImmD assesses your entry application from immigration perspectives and gives approval-in-principle, it grants a visa or entry permit to enter Hong Kong on visitor status for not more than 180 days, for the purpose of making the committed investment within that period. The committed investment must be made on or after the launch date of the New CIES.

In practice the order runs like this:

Receive the certifying proof from InvestHK.
Submit your entry application to ImmD within the proof’s validity period.
Enter Hong Kong on the visitor visa or entry permit ImmD issues.
Make the committed investment in permissible investment assets.
Return to InvestHK to have the investment verified.

What triggers formal approval and the 24-month condition?

The second InvestHK verification is what reopens your file at ImmD. Once InvestHK confirms you have fulfilled the investment requirements, it issues a Certifying Proof for Fulfillment of Investment Requirements, and you must submit that proof to ImmD within its validity period. ImmD then resumes assessment of your entry application and, upon formal approval, grants permission to stay.

That permission covers you and your dependants, if any. It is normally granted for not more than 24 months, on time limitation only, and it is subject to the condition that you continue to satisfy the requirements of the New CIES throughout the period.

What are you allowed to do once residence is approved?

More than the label “investment entrant” suggests. An entrant may take up employment, hold an office, be self-employed, or join in or establish a business in Hong Kong. Dependants admitted under the scheme are not prohibited from taking up employment or study under existing policy.

Re-entry is straightforward while your permission runs. Non-permanent residents of Hong Kong, including New CIES entrants and their dependants, do not need a re-entry visa or entry permit, whatever their nationality or travel document, provided they return within the currency of their permitted limit of stay and the circumstances on which they obtained their residential status remain unchanged.

Family scope is defined narrowly but clearly. You may bring a spouse, or the other party to a same-sex civil partnership, same-sex civil union, “same-sex marriage”, opposite-sex civil partnership or opposite-sex civil union that is legally and officially recognised where it was celebrated, plus unmarried dependent children under 18. A single online application can cover a maximum of eight accompanying dependants, and dependants admitted later are considered under the prevailing dependant policy.

How does the timeline continue after the first 24 months?

Extensions follow the same two-office pattern, with one hard timing rule. You must approach InvestHK for verification of continuous compliance with the Portfolio Maintenance Requirements, and you may do so not earlier than three months before your limit of stay expires. After verification, InvestHK issues a Certifying Proof for Fulfillment of Portfolio Maintenance Requirements.

You and any dependants must then apply to ImmD for an extension of stay before the limit of stay expires, even if the certifying proof has not yet arrived from InvestHK; ImmD makes its decision depending on whether the proof is subsequently submitted. When ImmD is satisfied from immigration perspectives, extension of stay is normally granted for not more than three years, and further three-year extensions follow the same procedure. You must be physically present in Hong Kong when you apply, and again when you pay for and collect the e-Visa.

Does seven years of compliance make you a permanent resident?

No, and the distinction matters for planning. Even if you have continuously satisfied the financial requirements and had extensions approved for not less than seven years, that does not amount to any acknowledgement from ImmD that you meet the ordinary residence requirement or the other requirements under the Immigration Ordinance (Cap. 115) for the right of abode. A person claiming to be a Hong Kong permanent resident has to apply, through the established procedure, for verification of eligibility for a permanent identity card.

If permanent residence is not available to you, unconditional stay is the alternative route out of the investment. After InvestHK verifies seven years of continuous compliance with the Portfolio Maintenance Requirements and ImmD has approved permission to stay for at least seven years, you may apply for unconditional stay at the end of the seventh year, and you must hold valid residence status under the scheme on the date you apply. Once unconditional stay is granted, you are free to dispose of the permissible investment assets, subject to the terms of the underlying investments. This article is general information rather than advice on any individual case, so treat the official pages as the controlling text and take professional advice on your own position.

Frequently Asked Questions

How long can I stay in Hong Kong to make the investment?

ImmD grants a visa or entry permit to enter Hong Kong on visitor status for not more than 180 days for making the committed investment. The visa follows approval-in-principle on your entry application, which you must have filed within the validity period of InvestHK’s net asset proof.

How long is the residence permission after formal approval?

Permission of stay is normally granted for not more than 24 months, on time limitation only. It is conditional on your continuing to satisfy the requirements of the New CIES throughout that period, and the same grant covers your dependants, if any.

Do I automatically become a Hong Kong permanent resident after seven years?

No. Seven years of meeting the financial requirements does not by itself establish ordinary residence or the right of abode. Eligibility for a permanent identity card has to be applied for and verified under the Immigration Ordinance.

Can I work or run a business while holding New CIES residence?

Yes. An entrant may take up employment, hold an office, be self-employed, or join in or establish a business in Hong Kong. Dependants residing under the scheme may also take up employment or study.

How many dependants can one application cover?

A single online application can cover a maximum of eight accompanying dependants. Eligible dependants are a spouse or recognised civil partner, and unmarried dependent children under 18.

When should I start the extension-of-stay process?

You may approach InvestHK for portfolio maintenance verification not earlier than three months before your limit of stay expires. You must still file the extension application with ImmD before expiry, even if the certifying proof has not yet been issued.

What happens if seven years pass and I do not qualify for permanent residence?

You may apply for unconditional stay at the end of the seventh year, once InvestHK has verified seven years of continuous compliance and ImmD has approved at least seven years of permission to stay. Unconditional stay permits entry and stay without any condition or limit of stay, after which you may dispose of the permissible investment assets subject to the underlying investment terms.