🇭🇰Hong Kong Residency: CIES, TTPS, QMAS and the Routes to Permanent Residence

Concept

Hong Kong reopened its immigration programmes in 2024. The Capital Investment Entrant Scheme (CIES) was restored from 1 March 2024 at a HK$30 million threshold, the Top Talent Pass Scheme (TTPS) introduced in 2022 continues to provide a fast residence procedure for high earners and graduates of top universities, and the long-established Quality Migrant Admission Scheme (QMAS) and General Employment Policy (GEP) remain available to professionals.

All routes lead to Permanent Residence (Right of Abode) after 7 years of ordinary residence. For high-net-worth and professional migration, Hong Kong offers territorial taxation, no capital gains tax, no estate tax, a common-law system, fast processing, and — for permanent residents who also hold Chinese nationality — visa-free travel to 170+ countries on the HKSAR passport.

Four main immigration programmes:

• CIES — investment-based, HK$30m minimum, no employment required.
• TTPS — talent-based, three categories (high earners, top-100 university graduates, recent graduates of top-100 universities).
• QMAS — points-based 12-criteria scoring, no employment offer required.
• GEP / ASMTP — employment-sponsored, requires HK employer.

Programme Conditions

Capital Investment Entrant Scheme (CIES)

Overview

Restored from 1 March 2024 under New CIES rules announced in the 2023-24 Budget. InvestHK's New CIES Office assesses the applicant's net assets and investments and monitors compliance, while the Immigration Department decides the visa, extensions and unconditional stay. Applicants invest at least HK$30 million in permissible HK assets and obtain a 2-year residence visa (renewable).

Eligibility

1. Age 18+ at the time of application.
2. Net assets ≥ HK$30 million in the six months preceding the assets-assessment application, supported by a statement from a Hong Kong CPA / HKICPA-licensed accountant.
3. No adverse immigration record, and normal immigration and security requirements met.
4. Eligible nationalities: foreign nationals; Chinese nationals who have obtained permanent residency abroad; Macao SAR residents; residents of Chinese Taipei. Excluded (current list, may change): nationals of Afghanistan, Cuba, the DPRK.

Permissible investments — HK$30m allocation

New CIES allocates HK$30m between a portfolio and a mandatory contribution to the CIES Investment Portfolio administered by Hong Kong Investment Corporation (HKIC):

Residential property pre-17 September 2025 transition. The test is the date of completion, not of signing. For real estate whose purchase completed before 17 September 2025, the earlier rules still apply: a residential property counts only if it is a single unit with a transaction price of at least HK$50m, and all real estate together counts for no more than HK$10m. Purchases completed on or after 17 September 2025 fall under the HK$30m unit threshold and the HK$15m overall cap; in either case a residential purchase counts only if it completed on or after 16 October 2024.

Portfolio maintenance after approval

Approved entrants must:

• maintain qualifying investments throughout the residence period;
• file annual confirmations through a Hong Kong practising CPA;
• comply with the ring-fencing principle (the entire proceeds of any sale are reinvested in permissible assets within the scheme).

A market-value decline below HK$30m does not automatically trigger a top-up requirement. Conversely, if investments grow above HK$30m, the surplus generally cannot be freely withdrawn: proceeds and gains remain within the scheme except where specifically permitted by the rules.

Family inclusion

Spouse and unmarried dependent children under 18 are included on the principal applicant's investment.

Permanent Residence

After 7 years of continuous ordinary residence under CIES, the principal applicant and family can apply for Right of Abode (permanent residence). The HKSAR passport is a separate matter: it is issued only to permanent residents who are Chinese nationals, so a foreign national keeps their own passport alongside the HKID.

Top Talent Pass Scheme (TTPS)

Overview

Launched 28 December 2022 to attract individual high-calibre talent without requiring an HK employment offer at application time.

Category A — High earners

• Eligibility: total annual taxable income (employment + business) of HK$2.5 million or above in the year immediately preceding the application; passive personal-investment income is excluded from the count.
• Initial visa: 36 months.
• No annual cap.
• Suitable for: senior executives, partners, fund principals.

Category B — Top-⁠100 university degree + experience

• Eligibility: bachelor's degree from a university on TTPS's published top-100 list (aggregated from QS, THE, US News, Shanghai) and at least 3 years of work experience in the last 5.
• Initial visa: 24 months.
• No annual cap.
• Suitable for: mid-career professionals from top global universities.

Category C — Top-⁠100 university degree, recent graduate

• Eligibility: bachelor's degree from a top-100 university, awarded within the last 5 years, with less than 3 years' work experience.
• Initial visa: 24 months.
• Annual cap: 10,000 places (first-come-first-served).
• Suitable for: graduates seeking to start careers in Hong Kong.

Renewal Conditions

An extension is applied for online within the last three months of the permitted stay. From the first extension the holder must show either employment in Hong Kong with a stable income at market level, or a business established or joined in Hong Kong that operates healthily and sustainably; approval normally brings up to three more years, or the remaining term of the employment contract if shorter. A holder who has spent at least two years in Hong Kong under the TTPS and had salaries-tax assessable income of at least HK$2 million in the previous year of assessment can apply under the top-tier employment stream for a six-year extension. Without HK employment or business, renewals are refused.

Quality Migrant Admission Scheme (QMAS)

Overview

A points-based scheme for skilled migrants who can contribute to Hong Kong's economic development. No prior HK employment offer required.

Two Assessment Methods

General Points Test (revised)

Under the current ImmD rules the General Points Test uses a 12-criterion system, with a published minimum threshold of 6 of 12. The criteria cover age, academic qualifications, language proficiency, work experience, annual income and business ownership. ImmD may adjust the threshold without prior notice; the current passing mark must always be checked against the official ImmD General Points Test page at filing.

Achievement-based Points Test

An alternative assessment method for individuals with exceptional achievements (Olympic medals, Nobel prizes, major national/international awards, recognised lifetime contributions to a profession). This is a categorical assessment rather than a points total.

Annual quota

ImmD's current scheme rules set no annual quota. Applicants who meet the prerequisites and the passing threshold are assessed in selection exercises held on a regular basis, and not every qualifying application is approved.

Talent List

Individuals whose occupation is on the HK Talent List (60 professions in nine industry segments after the 2025 review, among them financial services, innovation and technology, and aviation and shipping) are favourably considered under the General Points Test if they meet the list's own qualification and experience requirements; the list is updated periodically.

Family inclusion

Spouse and unmarried dependent children under 18 are included.

General Employment Policy (GEP)

Overview

The standard employment-based residence route. Requires an HK employer to sponsor.

Eligibility

1. Genuine job offer from an HK-incorporated and active employer.
2. Qualifications and experience matching the role — typically a degree plus relevant work experience.
3. Compensation aligned with HK market rates for the role; the Immigration Department applies a substance-over-form test.
4. No locally available candidate for skilled roles — the employer should informally demonstrate the position could not be filled locally. It is rarely a strict constraint for skilled roles.

Investment-⁠as-⁠Entrepreneur variant under GEP

For founders bringing capital and operating activity to Hong Kong rather than taking employment, ImmD assesses:

• 3-year business plan with profit & cash-flow projections;
• financial resources and intended investment size;
• HK jobs to be created;
• technological or professional contribution;
• linkage to the HK economy and, where relevant, participation in StartmeupHK, Hong Kong Science and Technology Parks (HKSTP), Cyberport or other recognised programmes.

Initial term typically up to 36 months; renewal cycle commonly 3+2 years on continuing business substance.

Family inclusion

Dependent visas available for spouse and unmarried children under 18.

ASMTP — Admission Scheme for Mainland Talents and Professionals

The equivalent of GEP for mainland Chinese nationals (who are not eligible for GEP). Same employer-sponsorship structure, same documentation requirements, processed by the Immigration Department's mainland-talent unit.

Permanent Residence — Right of Abode

After 7 years of continuous ordinary residence in Hong Kong, holders of any of the above visas can apply for Right of Abode under Article 24 of the Basic Law and the Immigration Ordinance.

ImmD examines not only the duration of residence but also the substantive connection to Hong Kong: habitual residence, family in Hong Kong, reasonable means of subsistence, and lawful tax filings. "Ordinary residence" is a substance test, not just a day count.

Right of Abode grants:

• Unrestricted right to live and work in Hong Kong without further visas;
• HKSAR passport (visa-free or visa-on-arrival to 170+ jurisdictions) — available only to permanent residents holding Chinese nationality; foreign nationals keep their existing passport;
• Standing in Hong Kong electoral system (LegCo geographic constituencies and District Council elections — limited to Permanent Residents).

Application process — common stages

Stage 1 — Preparation

Supporting documents include: passport, education / professional qualifications, employment evidence, financial statements (CIES), CV, family certificates, criminal record checks from all countries of residence in the past 10 years.

Stage 2 — Submission

Filed with the Immigration Department through the eVisa portal or the relevant scheme's dedicated channel:

• CIES via InvestHK (New CIES Office) and HKIC for the mandatory portfolio contribution;
• TTPS via the dedicated TTPS portal;
• QMAS / GEP via the eVisa portal.

Stage 3 — Processing

Stage 4 — Visa label and Hong Kong Identity Card (HKID)

Approved applicants receive a visa label affixed to the passport. Within 30 days of arrival in HK, an application must be made for the Hong Kong Identity Card (HKID) at any Immigration Department office. Biometrics are taken at the appointment; HKID is issued within 7–10 working days.

Tax considerations

Hong Kong tax basics

• Territorial principle: only HK-source income is taxable. Foreign-source income (foreign employment, foreign dividends, foreign capital gains) is not taxed.
• Salaries Tax: 2–17% progressive, or the standard rate — 15% on the first HK$5 million of net income and 16% above that (two-tier from 2024/25) — whichever yields less.
• No capital gains tax, no dividend withholding tax, no VAT/GST, no estate duty (abolished 2006).
• Mandatory Provident Fund (MPF): 5% employer + 5% employee contribution on monthly relevant income, capped at HK$1,500 each per month.

Tax residence

Hong Kong does not have a domestic concept of "tax residence" for individuals — tax liability is determined by source of income, not residence. However, DTAs use a residence-based concept for treaty purposes, defining HK residence by physical presence (180+ days in a tax year, or 300+ days across two consecutive tax years).

Departure from the UK

UK SRT determines departure-year residence; split-year treatment applies under Cases 1 or 3. UK temporary non-residence rules can recapture certain income on return within 5 UK tax years. UK–HK DTA (in force 20 December 2010) provides relief from double taxation. IHT provisions linked to long-term residence remain relevant for 3–10 years after departure — see UK Non-Dom Reform 2025.

US Persons

US worldwide taxation continues regardless of HK residence. No comprehensive US–HK double tax treaty exists. US foreign tax credits absorb most HK Salaries Tax. FEIE may exclude ~$130,000 of foreign earned income. FBAR and Form 8938 filings continue. Subpart F / GILTI may attribute HK-sourced corporate income to US shareholders annually.

CRS reporting

HK participates in OECD CRS automatic exchange. Hong Kong financial institutions identify accounts held by tax residents of reportable jurisdictions, on the account holder's self-certification, and report them to the IRD for exchange with those jurisdictions. An account holder who still certifies tax residence in the former home country is reported there; one who is tax resident only in Hong Kong is not reported by Hong Kong institutions, and accounts held abroad are reported to Hong Kong where that jurisdiction exchanges with it.

Restrictions and Compliance Requirements

• CIES rules differ from the pre-2015 version. New CIES allows residential real estate within tight sub-caps (single unit ≥ HK$30m purchase price, residential sub-cap HK$10m within HK$15m total real-estate). Residential real estate is not fully excluded.
• TTPS Category C cap. The 10,000/year quota fills up; early application in the year is recommended.
• QMAS scoring. The current General Points Test uses a 12-criterion system; the old 245/80 sheet no longer applies.
• Ordinary residence interruption. Extended periods abroad can interrupt ordinary residence during the 7-year PR qualifying period. ImmD examines substance, not only days.
• TTPS renewal requirements. Without demonstrable HK employment or business, renewals are refused.
• CIES portfolio maintenance. Falling below HK$30m on market moves alone does not force a top-up, but the surplus rule above HK$30m means gains are ring-fenced inside the scheme.
• Right of Abode 36-month absence. Continuous absence of 36 months after ceasing ordinary residence triggers a change of status to Right to Land. HK ties during long stays abroad should be documented.

Leaving Hong Kong: No Exit Tax and Remaining Administrative Matters

Hong Kong does not charge an exit tax. There is no deemed disposal on departure because Hong Kong has no capital gains tax; the territorial system applies only to Hong Kong-source income (IRO s.14; DIPN 21). Departure is administratively simpler than in exit-tax jurisdictions, but three administrative matters still need to be addressed.

• Final salaries-tax settlement. The employer files the departure notification (Form IR56G) with the IRD one month before the expected departure and, from filing, withholds all payments due to the employee until the IRD issues a letter of release; the employee files the final return and settles the balance.
• MPF. Accrued MPF benefits are otherwise unavailable for withdrawal until 65, but permanent departure is a statutory ground for early withdrawal: a statutory declaration plus supporting documents to the trustee — usable once in a lifetime, and a false declaration is a criminal offence (MPFA).
• Other administrative matters. Bank accounts, tenancy, visa status and any Hong Kong company directorships remain in place after departure; none of them is taxed on exit, but each requires separate administrative attention. These are matters of practice; no statute prescribes a fixed list of steps.

Comparison with Singapore, the UAE and Kazakhstan

Hong Kong, Singapore, the UAE and Kazakhstan differ more in their conditions after admission than in entry thresholds: retention of status during absence, the spouse's right to work and access to permanent status.

The four capital figures represent different requirements. HK$30 million is roughly US$3.8 million at the currency board's convertibility rate, and AED 2 million is roughly US$545,000 at the dirham peg — a factor of seven between the two main investment programmes. Kazakhstan's investor-visa threshold is close to the dirham figure. Singapore's Global Investor Programme differs in the type of status rather than the amount: it is the only one of the four that delivers permanent residence directly through the application process rather than after a qualifying period, and its parameters are set by EDB rather than by statute, so they are verified at filing (EP and the alternatives).

Employer requirements differ according to whether permission is tied to a sponsoring company. CIES, the Top Talent Pass and QMAS all admit a person with no Hong Kong job offer at all; so does the UAE Golden Visa. Singapore's default route does not — the Employment Pass needs a sponsoring company with real business substance, and although a founder's own company qualifies, MOM assesses the sponsor as well as the candidate. Only the ONE Pass, at S$30,000 a month, detaches the holder from a single employer in the way a Hong Kong talent pass does from the first day.

Presence requirements differ by jurisdiction. Hong Kong measures ordinary residence as a substantive connection — family, accommodation, filings — which is less restrictive than a day count for a principal who travels, and more restrictive for one who keeps only an address. Singapore ties the pass to the role: if the role is lost, the pass is lost regardless of the time spent in Singapore. The UAE Golden Visa allows continued status during absence, which is why it suits a holder whose business stays elsewhere. Kazakhstan issues the permanent permit for a term of up to ten years, so the renewal cycle, rather than the absence rule, must be scheduled (residence permits in Kazakhstan).

Work rights for a spouse are decisive in more cases than investment thresholds. In Hong Kong a dependant admitted with the principal may take up employment on the strength of the dependant visa itself, with no separate application to the Immigration Department. Singapore ended that option on 1 May 2021: a Dependant's Pass is permission to reside and nothing more, and a spouse who wants to earn needs her own Employment Pass — with the same S$5,600 floor and 40 COMPASS points as any other foreign hire — or a DP-Work Permit taken against the employer's quota and levy, or a Letter of Consent if she runs at least 30% of her own ACRA-registered business (work authorisations for Dependant's Pass holders). A UAE spouse sponsored by her husband is in the same position: residence without a labour card, and her own work permit to change that (UAE overview). For a two-career family, this difference is decisive: a consultant or lawyer whose practice is portable keeps working in Hong Kong from arrival and stops working in Singapore until an employer files for her.

Hong Kong's permanent-status procedure is based on published legal rules. Right of Abode after seven years of continuous ordinary residence is an entitlement under Article 24 of the Basic Law, with a published test and a formal status at the end of it. Singapore permanent residence is a discretionary grant through ICA's PTS channel with no fixed qualifying period, typically attempted after two or more years on a pass, and no promise attaches to it. The UAE offers no permanent residence at all on ordinary terms — the ten-year Golden Visa is long-term residence that renews, which is a different instrument from a status that cannot be taken away by a renewal decision. Kazakhstan is the only one of the four with a short naturalisation path, five years of permanent residence, and the only one that makes the applicant surrender the previous passport to use it.

Tax residence is determined separately from immigration status. Hong Kong has no domestic concept of individual tax residence, so the status and the tax position are separate questions and the treaty tests (180 days in a year of assessment, or 300 across two) exist only to claim relief. Singapore counts 183 days in a calendar year. The UAE counts 183 days, or 90 for a person with a permanent home and employment or business in the country, under Cabinet Decision No. 85 of 2022. Kazakhstan counts 183 days across any consecutive twelve months and then falls back on a centre-of-vital-interests test whose conditions apply cumulatively, with a 90-day route for investment residents of the Astana International Financial Centre. Holding any of these statuses is not the same as being taxed by the jurisdiction that issued it — for the general rules, see the rules on tax residence.

Immigration Programmes by Applicant Profile