4 hours Ago By Morning Studio editors
Hong Kong’s position as a leading international wealth hub looks set to continue, with a robust financial infrastructure, mature commercial and business ecosystem, significant potential business opportunities and connectivity to Asia-Pacific all playing into its favour. The city’s appeal as a global financial hub extends to its business ecosystem. Hong Kong is home to more of the world’s top 500 family enterprises than anywhere else in Asia, in addition to many global companies, multinational banks and financial institutions.
Hong Kong is also driving entrepreneurship with the aim of transforming into a regional hub for innovation and technology, leading to more investment opportunities. This ecosystem, along with a range of incentives to attract international investment and talent, is expected to strengthen economic growth and boost the city’s position as a global wealth centre. Fast-track residency Last year, the Hong Kong government launched the New Capital Investment Entrant Scheme (New CIES), an investment-migration initiative aimed at bringing new talent to Hong Kong and attracting investment to the city.
The initiative covers a wide range of investment assets, including equities, debt securities, certificates of deposits, subordinated debt, eligible collective investment schemes, limited partnership funds and properties in Hong Kong. In addition, applicants are required to invest in a CIES Investment Portfolio, which will contribute to the long-term development of Hong Kong’s economy and society. The initiative aims to grant wealthy individuals and their families fast-track residency in Hong Kong.
According to InvestHK, the government body charged with bringing foreign direct investment into the city, more than 910 applications have been made for the scheme, potentially bringing an estimated HK$27 billion (US$3.5 billion) into Hong Kong’s economy..
