- Hong Kong now accepts cryptocurrency as proof of net worth for investment visas under strict verification rules.
- Applicants must own at least HK$30 million in assets and invest the same amount in approved financial instruments.
- Crypto assets can prove wealth but cannot be used for investment under the visa scheme requiring traditional asset investments.
Hong Kong is accepting cryptocurrency assets as proof of net worth under the Capital Investment Entrant Scheme. The CIES requires applicants to show proof of assets worth HK$30 million ($3.8 million). Traditional assets like stocks and bonds were the sole acceptable forms of wealth accepted previously. This change aims to attract high-net-worth individuals who hold digital assets.
Strict Requirements for Crypto Valuation
Applicants must meet strict requirements to use crypto in their visa applications. A certified public accountant must verify and sign off to official valuation reports. The report must confirm the assets’ value and ensure they meet the program’s requirements.
All crypto assets must be stored either in regulated exchanges or in protected cold wallets.This ensures security and compliance with financial regulations.
Authorities need proper records to prevent fraudulent claim submissions. The verification procedures maintain transparency throughout visa applications.
Crypto assets serve as an acceptable method for verification of net worth but cannot be used for investment purposes. Approved applicants must invest HK$30 million within six months through specified permissible assets. Approved assets include stocks, bonds and government-sanctioned investment types. Crypto assets did not meet these requirements.
Increased Interest in the Program
The updated policy has attracted many applicants. As of January, over 750 applications were under review. Some have already used Bitcoin or Ethereum to meet the net worth requirement. The change has encouraged more investors to consider relocating to Hong Kong.
Hong Kong remains a key player in crypto regulation. It has licensed nine virtual asset trading platforms and continues to refine its policies. The government is considering further integration of digital assets into the financial system. Authorities are monitoring global trends to align regulations with international standards.
The new policy reflects Hong Kong’s commitment to attracting investment. By allowing crypto as proof of net worth, the city aims to strengthen its position as a global financial hub.
