Net Asset Requirements, Investment Requirements or Investment Management Requirements Report (New CIES Fulfillment Document)
We are Certified Public Accountants (Practising) as defined in the Accounting and Financial Reporting Council Ordinance (Cap. 588 of the Laws of Hong Kong) and can issue the Fulfillment document to demonstrate the applicant’s fulfillment of Net Asset Requirement, Investment Requirements or Portfolio Maintenance Requirements (as the case may be) under the New Capital Investment Entrant Scheme (hereinafter referred to as “New CIES”) Scheme Rules.
*According to paragraph 2.1(c) of the Scheme Rules, the applicant must have absolute beneficial ownership of Net Worth or Net Equity of not less than HK$30 million Market value (or its equivalent in foreign currency) during the entire period of six months before the date of application for Net Asset Assessment. Starting from March 1, 2025, the portion of the net assets or net capital jointly owned by the applicant and family members that is absolutely and beneficially owned by the applicant will be considered. Family members are defined according to Section 4 of Schedule 16E of the Inland Revenue Ordinance, primarily including: spouses, direct ancestors and descendants, siblings, and their spouses. Children include legitimate, illegitimate, adopted, and stepchildren. Parents include biological, adoptive, and stepparents. Siblings include full, half-blood, and step siblings. If a spouse ceases to be a spouse in a specific year, they may still be regarded as a spouse within the defined period, and their associated familial relationships will remain intact.
**According to paragraph 2.1(d) of the Scheme Rules, the applicant is required to invest not less than HK$30 million Net (or equivalent in foreign currencies) in Permissible investment assets (including Permissible financial assets, Non-residential real estate and CIES Investment Portfolio) that it absolutely beneficially owns on or after the launch date of the Scheme.
***According to paragraph 6.1 of the Scheme Rules, the applicant must deposit the Permissible financial assets into a designated account operated by an eligible financial intermediary (only one account per financial intermediary is permitted). The designated account must be used exclusively for trading of permitted financial assets. Applicants are not allowed to reduce their committed investments during the period when they are allowed to stay in Hong Kong under the Scheme. To qualify and remain eligible to participate in the Scheme, applicants must comply with the requirements in paragraph 6.1 regarding Permissible investment assets (including Permissible financial assets in paragraph 6.1(a) and Non-residential real estate in paragraph 6.1(b)) and must comply with the request of the Director-General of Investment Promotion of InvestHK (“DGIP”), all key information regarding such assets must be provided in writing to the satisfaction of the DGIP to enable the DGIP to assess his eligibility to participate in the Scheme and his rights (if any) under the Scheme.