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 visa-free travel to 170+ countries on the HKSAR passport.
At a glance
| Route | Threshold | Initial term | Best for |
|---|---|---|---|
| CIES | HK$30m permissible investment + audited net assets HK$30m+ | 2 years, renewable | HNWI without HK employment |
| TTPS Category A | ≥ HK$2.5m total taxable income in prior year | 36 months | Senior executives, high earners |
| TTPS Category B | Top-100 university degree + 3+ years' work experience (last 5) | 24 months | Mid-career professionals from top universities |
| TTPS Category C | Top-100 university degree, graduated within last 5 years | 12 months | Recent graduates of top universities (annual cap 10,000) |
| QMAS (General Points) | 12 criteria, minimum 6 of 12 (per ImmD) | ~36 months initial | Professionals without HK employment offer |
| QMAS (Achievement-based) | Olympic medal, Nobel prize, major national/international recognition | ~36 months initial | Exceptional achievers |
| GEP | HK employer sponsorship + qualifying salary + qualified role | Aligned with employment, typically 2 years | Hires by HK companies |
| ASMTP | Mainland China nationals only; same criteria as GEP | Aligned with employment | Mainland-PRC professionals |
| Path to PR (Right of Abode) | 7 years continuous ordinary residence + ImmD discretion | — | All routes above |
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
- Age 18+ at the time of application.
- 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.
- No criminal record in any jurisdiction of residence.
- 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):
| Asset class | Treatment |
|---|---|
| HK-listed equities, debt securities, deposit certificates, subordinated debt, eligible collective investment schemes, open-ended funds, eligible limited-partnership funds | Counted to fill the HK$30m balance; minimum HK$27m goes here in most portfolios |
| HK non-residential real estate | Counted; combined real-estate cap HK$15m |
| HK residential real estate (a single unit, transaction price ≥ HK$30m) | Counted; residential sub-cap HK$10m within the HK$15m overall real-estate cap |
| CIES Investment Portfolio (HKIC-administered, supports innovation/tech) | Mandatory HK$3m contribution — capital and dividends not guaranteed; exit depends on portfolio rules and liquidity |
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) and the HKSAR passport.
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: 12 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
- Genuine job offer from an HK-incorporated and active employer.
- Qualifications and experience matching the role — typically a degree plus relevant work experience.
- Compensation aligned with HK market rates for the role; the Immigration Department applies a substance-over-form test.
- 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);
- 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
| Scheme | Typical processing time |
|---|---|
| CIES | 4–6 months from full submission |
| TTPS | ~4 weeks (Cat A/B); ~4 weeks (Cat C) |
| QMAS | 6–9 months (General Points); shorter for Achievement-based |
| GEP / ASMTP | 4–6 weeks |
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 15% standard rate (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.
FAQs
What is the minimum investment for the Hong Kong CIES in 2026?
HK$30 million total. Composition: a portfolio of permissible HK financial assets and/or HK non-residential real estate (up to HK$15m combined real-estate, of which up to HK$10m may be residential subject to single-unit ≥ HK$30m transaction price), plus a mandatory HK$3m contribution to the CIES Investment Portfolio administered by HKIC. Net-asset support of HK$30m+ is also required, audited by a HK practising CPA.
When was Hong Kong CIES restored?
The new CIES launched on 1 March 2024, announced in the 2023 Policy Address. The 2015 version had been suspended in January 2015. The 2024 version raised the threshold from the 2015-era HK$10m to HK$30m and tightened (but did not eliminate) the role of residential real estate.
Is residential real estate permitted in New CIES?
Yes, within strict limits. Combined real estate counts up to HK$15m. Of that, residential up to HK$10m and only via a single unit with transaction price ≥ HK$30m. Transactions completing before 17 September 2025 retain the pre-existing HK$50m-per-unit threshold under the scheme's transitional rule.
What is the Top Talent Pass Scheme (TTPS)?
Launched 28 December 2022. Three categories: (A) annual taxable income ≥ HK$2.5m in the prior year — 36-month initial visa; (B) bachelor's degree from a top-100 university + 3+ years' work experience — 24-month initial visa; (C) bachelor's degree from a top-100 university within the last 5 years — 12-month initial visa, annual cap 10,000.
How does the current QMAS scoring work?
The General Points Test is now 12-criteria with a published minimum threshold of 6 of 12, plus an Achievement-based Points Test for exceptional achievers. The historical "245-point maximum, 80-point minimum" framework no longer applies. ImmD may revise the threshold without prior notice; confirm the current minimum at filing.
Is there an annual quota for QMAS in 2026?
No. The annual cap was lifted in the 2024 Policy Address. Applications are processed on a continuous basis.
How long until Hong Kong permanent residency?
7 years of continuous ordinary residence under any qualifying visa (CIES, TTPS, QMAS, GEP, ASMTP, or family-dependent visas tied to these). After 7 years, apply for Right of Abode (Permanent Residence) and the HKSAR passport. ImmD examines substance — family, accommodation, employment, tax — not just calendar days.
Can I lose my Hong Kong permanent residence?
Yes. For non-Chinese-national Permanent Residents, continuous absence of 36 months after ceasing ordinary residence may result in loss of Right of Abode. The downgraded status is Right to Land — still permits living, study and work in HK indefinitely but loses certain electoral and welfare rights.
Does Hong Kong tax foreign income for residents?
No. Hong Kong applies a strict territorial principle: only HK-source income (Salaries Tax on HK employment, Profits Tax on HK trade) is taxable. Foreign employment income earned outside HK, foreign dividends, foreign capital gains and foreign rents are not subject to HK tax.
Is there inheritance tax in Hong Kong?
No. Estate duty was abolished from 11 February 2006. There is no inheritance tax, gift tax or wealth tax in Hong Kong.
What is the top-100 universities list for TTPS Category B/C?
The TTPS list aggregates the most recent editions of QS World University Rankings, Times Higher Education World University Rankings, US News Best Global Universities and Shanghai Academic Ranking of World Universities. A university appearing on any of the four qualifies.
Can mainland Chinese citizens apply for CIES, TTPS or QMAS?
CIES, TTPS and QMAS are not open to mainland Chinese nationals who do not hold foreign permanent residency. The mainland-equivalent route is ASMTP (Admission Scheme for Mainland Talents and Professionals).
Do I need to live in Hong Kong continuously after getting a visa?
For the 7-year PR clock, ImmD examines substance — not only days. Brief absences for work or holidays do not break ordinary residence; extended absences (6+ months in a year, or repeated patterns of leaving and returning) can. Document HK employment, HK tax filings, HK accommodation and HK family presence as evidence.
Can my family come with me?
Yes. All major schemes allow inclusion of the spouse and unmarried dependent children under 18 on the principal's visa. Dependent visas align with the principal's visa term and renew together. After 7 years of ordinary residence the whole family qualifies for Right of Abode (subject to ImmD substance test).
Related pages
- Hong Kong company: incorporation, taxation, banking — corporate vehicle for HK business activity.
- Singapore — permanent residence by investment (GIP) — Asia's other premier residence-by-investment route.
- Singapore — Employment Pass for top management — Singapore's equivalent of the GEP route.
- UK Non-Dom Reform 2025 — territorial-tax destinations for UK leavers; HK is a frequent choice.
Last reviewed: 22 May 2026
Disclaimer. This page is provided for general information only and does not constitute legal, tax or immigration advice. Hong Kong immigration policies and scheme thresholds are reviewed regularly; verify current criteria against the Immigration Department and InvestHK at the time of application. Consult an HK-qualified immigration consultant and, where home-country tax follows you abroad, a qualified tax adviser in your home jurisdiction.
Primary sources. Immigration Ordinance (Cap. 115); Basic Law of the HKSAR, Article 24; CIES guidelines (1 March 2024 launch) published by InvestHK and HKIC; TTPS scheme rules published by the Immigration Department (28 December 2022 launch, updated 2024); QMAS General Points Test and Achievement-based Points Test schedules; HK Talent List (latest update); IRD guidance on Salaries Tax and territorial taxation; OECD CRS schedule.