Hong Kong Reduces Investor Visa Home-Purchase Threshold to HK$30 Million

(HONG KONG) Hong Kong has lowered the residential property purchase bar inside its revived investor visa, the New Capital Investment Entrant Scheme, cutting the minimum qualifying home value from HK$50 million to HK$30 million and confirming that the change applies to deals completed on or after October 16, 2024.

The government’s aim is straightforward: pull more global capital into the city while giving a lift to a high‑end property market still stuck near multi‑year lows. But the move comes with a strict cap that keeps the program focused on financial assets. Even though an applicant may now buy a HK$30 million home, only up to HK$10 million of that property value can count toward the scheme’s total HK$30 million investment requirement, forcing investors to place the remaining HK$20 million into other eligible holdings such as stocks, bonds, and approved funds.

Why the change matters

The adjustment matters for wealthy families weighing residency in Hong Kong. It brings the entry point for property down by 40%, which officials hope will draw applicants who were discouraged by the previous HK$50 million figure. Yet the tight HK$10 million real estate credit is a clear signal that the city wants the bulk of New Capital Investment Entrant Scheme money flowing into the capital markets rather than into already soft luxury housing.

According to government tallies cited in recent briefings, by April 2025 the rebooted program had received 1,257 applications, with 512 approvals, channeling more than HK$37 billion into the economy. VisaVerge.com reports interest rose sharply after the policy shift, though early allocations still tilt toward financial instruments over bricks and mortar.

The rule change lowers the minimum home price but preserves the program’s core objective: deepen Hong Kong’s financial markets rather than subsidize a property bounce.

How the scheme still works (mechanics and stages)

Officials describe the updated investment threshold as a targeted change, not a wholesale pivot. The total commitment remains HK$30 million in eligible assets, and the Immigration Department has kept the staged-approval structure intact.

Typical steps:
1. Prove net worth (evidence such as bank statements and brokerage records).
2. Receive conditional approval (approval‑in‑principle).
3. Enter Hong Kong and complete the investments within the set window (commonly 180 days).
4. Engage an independent certified professional to confirm the portfolio meets rules.
5. Obtain final approval and a two‑year renewable residence visa, provided qualifying holdings are maintained.

Applicants then may pursue permanent residency after seven years, subject to usual Immigration Department assessments.

What counts — the fine print

• Minimum total investment: HK$30 million across permitted assets.
• Maximum residential property credit: HK$10 million (even if the home costs more).
• Typical portfolio example:
  • HK$10 million counted from residential purchase
  • HK$20 million placed in approved equities, bonds, or funds

If a property costs HK$30 million, only one‑third of that price helps meet the scheme’s minimum. The rest of the house value is outside the calculation, tightening cash demands for buyers relying on property.

• Commercial or industrial real estate: subject to separate rules and generally not the focus of this update.
• Eligible backbone assets: listed equities, certain bonds, and SFC‑authorized funds.
• Common exclusions: private company stakes and exotic instruments.

Effective date and retroactivity

The lower residential threshold is not retroactive. Authorities clarified the reduction applies to transactions completed on or after October 16, 2024. Later clarifications in early 2025 aligned paperwork and portfolio checks to that date, which led some investors to:

• Rethink purchase schedules, or
• Shift more cash to listed assets while waiting for a suitable home

Bankers say many adopt a blended approach—securing financial holdings first and property later—to limit risk and satisfy staged deadlines.

Market context and policy intent

Hong Kong’s luxury housing has faced weak demand, larger unsold inventory, and price cuts in some districts. Earlier measures—lighter mortgage rules, selective stamp duty reductions, and piecemeal tax changes—did not fully reset investor sentiment.

By allowing a lower minimum home purchase inside the visa route, the government aims to:
– Provide a fresh nudge to attract wealthy families
– Preserve the program’s core purpose of channeling capital into financial markets
– Avoid a speculative surge that could destabilize prices

The partial property credit (HK$10 million) is deliberately designed to steer the program toward financial market depth—brokerage, custody, and fund activity—rather than create a standalone property-driven influx.

Market and sector responses

• Property developers: welcomed the signal, hoping HK$30 million entry will unlock stalled luxury deals.
• Agents: report more viewings by overseas families previously deterred by the HK$50 million requirement.
• Property-sector caveat: the HK$10 million cap cools expectations of a quick rebound; buyers still need sizeable liquid financial assets.
• Stockbrokers and portfolio managers: see opportunity—more accounts and demand for Hong Kong‑listed products, blue‑chip shares, investment‑grade bonds, and SFC‑authorized funds.

Practical implications for NRIs and overseas investors

The pathway is easier to plan but remains premium. Key considerations:
– Headline ticket: HK$30 million plus taxes, fees, and upkeep raises total outlay above the nominal threshold.
– Ongoing costs: maintenance, management, legal services, and potential duty exposure.
– Recommended sequence: many advisers suggest building a program‑ready financial portfolio first (Hong Kong‑listed shares, debt securities, regulated funds) before finalizing a family home.
– Liquidity planning: because only HK$10 million of the home counts, set aside HK$20 million in approved financial assets within the program’s timeframe.

Timing, sequence, and recordkeeping

Two common approaches:
– Securities first: lock in the HK$20 million via blue‑chip shares and bonds, then search for property (gives flexibility if a property deal fails).
– Property first: secure a rare unit, but risk short‑term price swings that only partially help the visa calculation.

Always:
– Keep meticulous records—bank statements, broker confirmations, CPA reports.
– Use licensed service providers because Immigration will require proof that each asset meets scheme rules.

Critical reminder: Only transactions completed on or after October 16, 2024 are eligible under the updated residential rule. Check contract and completion dates carefully.

Costs, compliance and setup

• Expect layered charges: custody, advisory, trading spreads, and ongoing company or portfolio running costs.
• Anti‑money‑laundering checks: large inbound transfers typically prompt source‑of‑fund queries and detailed documentation.
• Corporate structures: some applicants set up Hong Kong companies to hold portfolios for operational ease, but these must meet local substance requirements and carry costs.

Banks and brokers have created dedicated desks to assemble eligible holdings and prepare paperwork for the CPA review. A plain, low‑turnover portfolio often minimizes fees and volatility during the holding period.

Longer horizon and non‑citizenship emphasis

The government stresses the scheme is not citizenship‑by‑investment. It is a residence route requiring maintenance of qualifying holdings and checks over time. After seven years of residence, applicants may seek permanent residency under existing rules.

Families often weigh this longer horizon when choosing schools, business ties, and healthcare. Cross‑border tax and reporting issues remain the applicant’s responsibility—seek professional advice to assess home‑country obligations.

Key takeaways (for families considering applying)

• The lower home purchase threshold helps, but the scheme remains built around financial assets. Plan to place at least HK$20 million into approved securities even if you buy a qualifying home.
• The effective date matters: only transactions from October 16, 2024 onward fit the updated property rule.
• Keep records tight: bank statements, broker confirmations, and CPA reports are essential for final approval.

For official guidance, start with the Hong Kong SAR government’s materials and licensed professionals. The Immigration Department’s site is the authoritative source: Hong Kong Immigration Department – Services and Information.

Outlook and concluding thoughts

The government has left room for future tweaks if market conditions or application patterns warrant refinements. For now, the combination of a lower residential bar, a firm HK$10 million property credit cap, and a steady HK$30 million total investment requirement sets a clear line.

Early program statistics—more than a thousand applications, hundreds of approvals, and over HK$37 billion of inflows—suggest momentum. But the limited property credit and the high total ticket ensure this remains a pathway for a narrow slice of global investors by design.

Practical advice:
– Confirm eligibility early.
– Build a simple, rule‑compliant portfolio.
– Choose a home that fits family needs rather than chasing a price point.
– Maintain cash buffers for fees and market swings.
– Monitor official notices for any policy updates.

If the change draws investors who plan to stay and build rather than flip and leave, it will have achieved the intended balance: widen the door enough to matter, without shifting the program’s fundamental aim.