New Capital Investment Scheme Draws Over 1,200 Applications, Boosting HK Investment to HK$37 Billion

First-year review of New Capital Investment Entrant Scheme reports over 1 200 applications, expected to bring over HK$ 37 Billion to Hong Kong

The New Capital Investment Entrant Scheme (New CIES) continues to attract strong interest since its launch. As of the end of April 2025, Invest Hong Kong (InvestHK) received 1 257 applications. At the same time, the Immigration Department has granted "Approval-in-Principle" to 911 applicants, allowing them to enter Hong Kong as visitors to complete their investments, and has granted "Formal Approval" to 512 applicants who have completed investments. The current applications are expected to bring an investment amount of over HK$37 billion into Hong Kong, reinforcing Hong Kong's standing as a pre-eminent international investment hub.

The Scheme aims to attract asset owners to settle in the city and explore its diverse investment opportunities through wealth allocation and management. The New Capital Investment Entrant Scheme Office under InvestHK is responsible for assessing the financial assets and investment of the Scheme Applicants as well as monitoring their continuous compliance of the Investment Requirements and Portfolio Maintenance Requirements, while the Immigration Department is responsible for assessing applications for visa/entry permit, extension of stay and unconditional stay pursuant to the Scheme.

The New CIES was launched in March 2024 and new enhancement measures were introduced in March 2025. Here are the respective key numbers as of the end of April 2025:

From March 1, 2024 to February 28, 2025 (A)

From March 1, 2025 to April 30, 2025 (B)

Total (A+B)

Number of enquiries

Over 7 900

Over 1 000

Over

8 900

Number of applications

918

339

1 257

Applications verified as having fulfilled the Net Asset Requirement

(i.e. applicant has demonstrated that he/she has net assets of not less than HK$30 million for a specified period preceding his/her application)

868

285

1 153

Number of Approval-in-Principle granted(i.e. Granting of 180-day visitor visas for making investment)

756

155

911

Applications verified as having fulfilled the investment requirements

(i.e. applicant has already made investment of HK$30 million in Hong Kong)

386

157

543

Number of Formal Approval granted

341

171

512

Expected investment amount to be brought into Hong Kong

Over HK$ 37 billion

As of April 30, 2025, the distribution of the investment amount in respect of the applications verified as having fulfilled the Investment Requirements is as follows:

Investment amount

(HK$ Million)

Percentage

(%)

Securities and Futures Commission-authorised funds

6,008

36.4

Equities

4,632

28.1

Debt securities

2,155

13.1

Investment-linked assurance schemes (ILAS)

1,434

8.7

Others

627

3.8

CIES Investment Portfolio (CIES IP)*

1,629

9.9

Total

16,485

100

*Including capital pending deployment

For detailed charts of the cumulative application figures and the distribution of the investment amounts, please refer to the Appendix.

After taking into account the views of the industry, the New CIES has implemented enhancement measures starting March 1, 2025 which include (i) shortening the fulfillment period of Net Asset Requirement (NAR) from two years to six months; (ii) taking into consideration for the calculation of NAR for the respective portion of jointly-owned assets with family member(s) which is absolutely beneficially entitled to the applicant; and (iii) allowing investment made through an eligible private company wholly owned by the applicant, creating synergy with the tax concession regime for family offices. Following the implementation of enhancement measures, there has been a notable surge in March 2025, with monthly application numbers rising by over 440 per cent as compared with February. This reflects the growing confidence of the applicants and the market in the New CIES.

Head of Hong Kong, Chartered Accountants Australia and New Zealand (CA ANZ), Ms Elizabeth Chan, said, "We are pleased to see the strong pipeline of applications following the enhancement measures introduced in March 2025, reflecting Hong Kong's enduring appeal as a global investment hub. The Scheme is also creating new business opportunities for the industry. As a professional body representing the accounting sector, we are committed to upholding the highest standards of due diligence, compliance, and transparency in supporting the Scheme. Hong Kong's dynamic economy, rule of law, and world-class financial infrastructure continue to offer the predictability and confidence that high-net-worth individuals look for when seeking long-term growth and stability."

Founding Partner of MindWorks Capital, one of the fund managers appointed for the CIES IP, Mr David Chang, said, "As Hong Kong's largest homegrown venture capital firm, MindWorks Capital is proud to support the New CIES as a catalyst for shaping the city's next chapter. Through strategic investments in innovation, culture, and technology, we remain committed to building a more vibrant, resilient, and future-ready Hong Kong. We are also seeing renewed fund activity across the market as firms position to capture the opportunities unlocked by the Scheme."

Over the past year, InvestHK has implemented a comprehensive promotional strategy. This included broadcasting a promotional video at Hong Kong International Airport between November and December last year, and publishing feature articles in media outlets across major markets such as Asia, the Middle East, Europe and Americas, as well as local media in the past year. Additionally, InvestHK actively promoted the scheme and shared relevant information through its social media. It has also promoted New CIES through overseas visits and investor meetings, hosting briefing sessions with chambers of commerce, industry associations, professional organisations, and the network of family office service providers, further expanding its promotional reach.

Looking ahead, InvestHK will continue to promote Hong Kong as the premier hub for capital and talent worldwide. The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said: "Hong Kong possesses strong resilience and solid foundations, as demonstrated by the free flow of capital, a robust regulatory framework, and a deep pool of professional talent. These attributes offer global investors an unparalleled and stable environment for doing business and making investments. I am confident that the New CIES will continue to attract more talent and capital to Hong Kong. We will also continue to work closely with the professional sector and relevant stakeholders to further promote the initiative to high-net-worth individuals around the world."

InvestHK has also published online guidebooks for the global investors interested in the New CIES. For access to the guidebooks, please visit:www.newcies.gov.hk/en/resources/scheme-rules-and-documents/.

First-year review of New Capital Investment Entrant Scheme reports over 1 200 applications, expected to bring over HK$ 37 Billion to Hong Kong Source: HKSAR Government Press Releases

First-year review of New Capital Investment Entrant Scheme reports over 1 200 applications, expected to bring over HK$ 37 Billion to Hong Kong Source: HKSAR Government Press Releases

CFS to follow up certain batches of powdered infant and young children formula with possible presence of Cereulide produced by Bacillus cereus

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department (FEHD) today (January 10) said that, it took initiative to meet with Nestlé Hong Kong again today, and confirmed the company's today announcement of an additional batch of powdered infant and young children formula suspected to have possibly used the raw material concerned. Nestlé Hong Kong has voluntarily stopped sales, removed from shelves the affected products and has initiated a precautionary recall. The CFS has collected samples of powdered infant and young children formula from the market for Bacillus cereus testing, the test results so far were satisfactory. The Environmental and Ecology Bureau is also closely monitoring the supply situation of other formula milk powder and maintaining communication with other major suppliers. It is noted that there is sufficient formula milk powder to meet the demand.

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department (FEHD), Photo source: reference image

The spokesman said, the CFS has been actively following up on Nestlé company's voluntary and precautionary recalls of certain batches of its powdered infant and young children formula in certain areas in Europe due to possible presence of Cereulide produced by Bacillus cereus in the individual raw material. According to the latest information from Nestlé Hong Kong today, an additional batch of its powdered infant and young children formula imported into Hong Kong might have used the raw material concerned. The CFS had earlier enhanced surveillance in the market and collected a sample from the above batch for testing of Bacillus cereus. The test result of the sample was satisfactory. Nevertheless, as a precautionary measure, Nestlé Hong Kong has voluntarily stopped sales, removed from shelves the affected products and has initiated a precautionary recall.

Product details are as follows:

Product name (Net weight): NAN PRO 1 2 HMO (800g)

Batch number: 51670742F2

Best-before date: June 16, 2027

Place of Origin: Germany

"The CFS met Nestlé Hong Kong again today, urging them to properly handle the product recall issue and respond to public enquiries, in order to safeguard consumers' legitimate rights and interests. In addition, the CFS and Nestlé Hong Kong have jointly followed up, six suspected affected batches of infant and young children formula products that had not entered the market were marked and sealed. An additional 15 batches are currently en route to Hong Kong and will also be marked and sealed upon arrival. The CFS will continue to closely monitor the recall matters and remain fully committed to ensuring food safety, " the spokesman said.

Nestlé Hong Kong has initiated a recall of the affected batches of the products concerned. For enquiries about the recall, members of the public may contact the company through the following channels:

Consumer services hotline: 2599 8874 / 2797 6031/ 2179 8136 (Monday to Sunday, 9am to 9pm)

Email: consumerservices@hk.nestle.com

WhatsApp: 5283 4139 (NESTLÉ® NAN®) / 2599 8871 (Wyeth® Nutrition)

Online form: forms.office.com/e/BhqMhWfsUG?origin=lprLink

Consumers may choose to bring along the products (brand new or opened) for refund at place of purchase, or at exclusive service counters of Nestlé Nutrition Services from January 13 (Tuesday) onwards, to settle the recall and refund of the batches of the products concerned. Details of the exclusive service counters are as follows:

Kowloon Services Counter

Address: G/F, Park Hovan Commercial Building, 18 Hillwood Road, Tsim Sha Tsui, Kowloon (MTR Jordon Station Exit D)

Contact number: 3996 8196

Office hour: Monday to Saturday, 11am to 7.30pm; Sunday, 1pm to 5.30pm (except public holidays)

Hong Kong Services Counter

Address: 1/F, Ka Nin Wah Commercial Building, 423-425 Hennessy Road, Hong Kong (MTR Causeway Bay Station Exit B)

Contact number: 3996 8197

Office hour: Monday to Saturday, 11am to 7.30pm (except Sundays and public holidays)

The CFS, through its Food Incident Surveillance System, noted earlier that certain batches of Nestlé powdered infant formula were being voluntarily recalled in Europe due to possible contamination with Bacillus cereus. Upon learning of the incident, the CFS has immediately initiated follow up actions, published food incident posts to inform the public and the trade about the issue, and has been actively following up on the incident and enhanced surveillance.

Over the past three days (as of 4pm on January 9), the FEHD received a total of 18 food complaints and enquiries suspected to be related to the infant and young children formula products, including one anonymous complaint without contact information. The CFS and the Environmental Hygiene Branch have promptly followed up on all cases, including contacting the parties concerned to obtain details and collecting samples for testing. In addition, the CFS has referred the cases to the health department for follow-up. At present, no food poisoning cases related to the formula have been recorded.

Bacillus cereus is commonly found in the environment. Unhygienic conditions in food processing and storage may give rise to its growth. Cereulide is a heat-stable toxin produced in food by some strains of Bacillus cereus. Consuming food contaminated with excessive Bacillus cereus or its heat-stable toxins may cause gastrointestinal upset such as vomiting and diarrhoea.

The spokesman urged members of the public not to let infants and young children consume the affected batches of the products, and to seek medical treatment for infants or young children who felt unwell after taking the products concerned. The trade should also stop using or selling the affected batches of the products immediately.

"The CFS continues to closely monitor the developments of the situation, follow up and take appropriate action," the spokesman said.

The infant formula of Nestlé, Photo source: online image