Hong Kong’s New Capital Investment Entrant Scheme (New CIES) has attracted nearly 3,200 applications from global high-net-worth individuals in the last two years, reinforcing the city’s status as a leading international wealth management center.

The New CIES recorded 3,166 applicants since its launch in March 2024, representing anticipated investments of about HK$95 billion ($12.14 billion) for the city, according to a Hong Kong Special Administrative Region government statement issued on Monday.

“This robust trajectory fully reflects Hong Kong's competitive edge in the global investment landscape and demonstrates the market's confidence,” the statement reads.

Under the program, an eligible applicant must invest a minimum of HK$30 million in permissible investment assets. A successful applicant and his or her dependents will normally be granted with permission to stay in Hong Kong for two years with the possibility of extensions.

InvestHK is actively supporting the work of the Hong Kong Investment Corp Ltd to promote the CIES Investment Portfolio. The 2025 batch of capital also started capital allocations this quarter, with investments exceeding HK$3 billion.

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These funds will be strategically deployed across a range of investment themes, including AI-enabled applications, sustainable technologies, materials science, and biotechnology.

"Hong Kong has been actively implementing a diverse range of talent admission schemes, and we are pleased to see the positive market response to the New CIES,” Director of Immigration Benson Kwok Joon-fung was quoted as saying in the statement.

“Together with other admission schemes, these programs work in synergy to attract talent and capital from around the world, supporting Hong Kong's sustainable development and long-term competitiveness."

Director-General of Investment Promotion at Invest Hong Kong Alpha Lau Hai-suen said New CIES investors will not only bring substantial capital inflows but also generate ripple effects across real estate, dining, retail, education, and lifestyle services.

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“This will stimulate both high-end and daily consumption, subsequently creating economic benefits for local small and medium-sized enterprises and professional service sectors,” Lau said.

She said the New CIES also bolsters Hong Kong's innovation and technology sector since its investment portfolio spans both innovation and technology and other strategic fields.

“By providing funding support to start-ups and research projects, it accelerates the commercialization and industrialization of innovative achievements, further positioning Hong Kong as Asia's innovation and technology powerhouse," Laus aid.

Over the past year, InvestHK has pursued a comprehensive promotion strategy, including in key markets across Asia, the Middle East, Europe, and the Americas, as well as in local media.