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

Concept

Hong Kong reopened its premium immigration routes 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 deliver fast residence for high earners and graduates of top universities, and the long-established Quality Migrant Admission Scheme (QMAS) and General Employment Policy (GEP) remain the operative paths for professionals.

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

At a glance

Capital Investment Entrant Scheme (CIES)

Overview

Restored from 1 March 2024 under New CIES rules announced in the 2023 Policy Address and administered jointly by InvestHK and the Hong Kong Monetary Authority (HKMA). 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 criminal record in any jurisdiction of residence.
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 splits HK$30m into a portfolio plus a mandatory contribution to the CIES Investment Portfolio administered by Hong Kong Investment Corporation (HKIC):

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 (qualifying portfolio cannot be casually mixed with personal funds).

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 inside the scheme envelope except where specifically permitted by the rules.

Family inclusion

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

Path to PR

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 filter

First renewal typically 3 years; subsequent renewals subject to demonstrable "contribution to Hong Kong" — HK employment with stable income, an HK business or substantive investment activity. 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 tracks

General Points Test (revised)

Under the current ImmD framework the General Points Test is 12-criteria based, with a published minimum threshold of 6 of 12 at the time of writing. The criteria cover age, academic qualifications, language proficiency, work experience, annual income, business ownership, and bonus factors. ImmD may adjust the threshold without prior notice; always confirm the current passing mark against the official ImmD General Points Test page at filing.

Achievement-based Points Test

Alternative track for individuals with exceptional achievements (Olympic medals, Nobel prizes, major national/international awards, recognised lifetime contributions to a profession). Awarded as a categorical, not point-summed, route.

Annual quota

No annual cap from 2024 onwards (the 4,000-place cap previously announced for 2023 was lifted in the 2024 Policy Address).

Talent List

Individuals whose occupation is on the HK Talent List (currently 51 in-demand occupations including fintech, asset management, marine surveyors, data scientists, etc.) receive favourable consideration in QMAS scoring; 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 evidence the position could not be filled locally. Rarely a hard barrier 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 substance.

Family inclusion

Dependent visas available for spouse and unmarried children under 18.

ASMTP — Admission Scheme for Mainland Talents and Professionals

Mirror 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 calendar 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

Collect supporting documents: 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 leg;
• 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, apply for the Hong Kong Identity Card (HKID) at any Immigration Department office. Biometrics taken at the appointment; HKID 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).

If you are leaving 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 long-term residence "tail" of 3–10 years post-departure remains relevant — see UK Non-Dom Reform 2025.

If you are a US person

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 tax-treaty residence (as defined above) generally triggers CRS reporting from HK to the home jurisdiction once the principal has been HK-resident for the relevant tax year.

Common pitfalls

• Mistaking CIES for 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). The full-exclusion narrative is wrong.
• TTPS Category C cap. The 10,000/year quota fills up; apply early in the year.
• QMAS scoring confusion. The current General Points Test is 12-criteria; the old 245/80 sheet no longer applies.
• Ordinary residence interruption. Extended periods abroad can break ordinary residence for the 7-year PR clock. ImmD examines substance, not only days.
• TTPS renewal without HK contribution. Without demonstrable HK employment or business, renewals are refused.
• CIES asset rebalancing assumption. 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 downgrade to Right to Land. Document HK ties during long stays abroad.

Leaving Hong Kong: No Exit Tax, but Close the Loops

Hong Kong does not charge an exit tax. There is no deemed disposal on departure because there is no capital gains tax to deem anything into; the territorial system simply stops at the last Hong Kong-source dollar (IRO s.14; DIPN 21). Leaving is administratively light compared with exit-tax jurisdictions — but three loops still need closing.

• Salaries tax final loop. The employer files the departure notification (Form IR56G) with the IRD and holds back the final payment until the employee's tax position is cleared; the employee files the final return and settles the balance (verify the current IR56G practice at ird.gov.hk).
• MPF. Accrued MPF benefits are otherwise locked 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).
• The rest of the file. Bank accounts, tenancy, visa status and any Hong Kong company directorships survive departure; none of them is taxed on exit, but each is an administrative thread to close deliberately (practice — no statute fixes the checklist).