Hong Kong Recognizes Bitcoin and Ethereum as Valid Proofs of Wealth for Investment Visa Applications
Hong Kong now recognizes Bitcoin and Ethereum as valid proofs of wealth for investment visa applications. The New Capital Investment Entrant Scheme (New CIES) allows applicants to use these cryptocurrencies to meet the HK$30 million (approximately $3.8 million) residency requirement. To qualify, applicants must provide reports signed by certified accountants, verifying their cryptocurrency holdings, and secure their assets in cold wallets or on reputable exchanges like Binance.
The government of Hong Kong has officially recognized Bitcoin and Ethereum as valid proof of assets for investment immigration applications.
This recognition implies that applicants can use any of these cryptocurrencies to meet the HK$30 million (approximately $3.8 million) residency requirement under the New Capital Investment Entrant Scheme (New CIES). The first approval was granted in October 2024 and the second on 7th February, 2025.
Hong Kong Scheme Investment System
This new CIES policy aims to attract foreign investment by requiring applicants to invest HK$30 million in eligible local assets within six months of approval.
However, the eligibility of direct cryptocurrency investments and crypto-related products, such as exchange-traded funds (ETFs), as qualifying assets under the New CIES remains uncertain.
Furthermore, for applicants to qualify for this process, they must provide reports signed by certified accountants, which verify their cryptocurrency holdings. Secure the assets in cold wallets or on reputable exchanges like Binance to ensure asset security and regulatory compliance.
This move by the New Capital Investment Entrant Scheme (New CIES) reflects Hong Kong’s stance on digital assets, aiming to attract foreign investment while positioning itself as a global crypto hub.
Legislator Wu Jiexhuang in December 2024, proposed Bitcoin in Hong Kong’s national reserves, he thought that it could strengthen financial security.
In addition, Hong Kong’s Securities and Futures Commission (SFC) is actively developing its cryptocurrency regulatory framework.
However, irrespective of the progress, the registration process for cryptocurrency entities in Hong Kong has been sluggish, with only seven licenses issued since the initiative began in the middle of 2014.
Security Measures
The thorough assessment measures taken by the Securities and Futures Commission (SFC) include conducting an onsite review focusing on client asset protection, the Know your Customer procedures (KYC), and other cybersecurity measures.
Notably, these measures will help ensure that participants strictly follow high standards. Hong Kong’s cautious approach limits cryptocurrency trading to only four approved digital currencies. They are Ethereum, Bitcoin, Avalanche (AVAX), and Chainlink (LINK).
