This year's newly upgraded Hong Kong investment immigration program (New CIES) is drawing interest from high-net-worth Koreans. Hong Kong has significantly eased asset-related requirements, throwing open a pathway for wealthy individuals to obtain Hong Kong permanent residency and participate in the Hong Kong investment market.
According to the industry on the 19th, the New CIES grants eligibility to individuals who have maintained net worth of at least 30 million Hong Kong dollars (about 5.6 billion won) for six months or more and invest the same amount in permitted investment assets. Each applicant must invest 27 million Hong Kong dollars (about 5.1 billion won) in financial assets or real estate and deposit 3 million Hong Kong dollars (about 600 million won) into the CIES investment portfolio. Applicants who meet these requirements may reside in Hong Kong with a spouse and children under 18.
The key feature of the New CIES is greater investment flexibility, recognizing not only personal holdings but also asset holdings through an investment corporation 100% owned by the family. If a single family office (SFO) with assets of at least 240 million Hong Kong dollars (about 45.2 billion won) is established in Hong Kong and meets the conditions for tax benefits, up to eight family members become eligible to apply for permanent residency through the program. It is also advantageous for structuring family assets and inheritance planning.
Hong Kong's strength is seen as its favorable environment for high-net-worth individuals to live. Built on a transparent and stable legal and institutional system, Hong Kong has established itself over decades as an "Asian financial hub." Its legal framework is grounded in common law, and both English and Chinese are official languages. In addition, with a low property tax burden, it is drawing attention among wealthy Koreans as a new residence.
Under the "one country, two systems" principle, Hong Kong also enjoys independence in immigration, currency, fiscal policy, and taxation. With an independent customs territory, it faces no restrictions on the movement of capital, talent, goods, and information. This one country, two systems framework gives high-net-worth individuals confidence that they can protect and grow their assets in Hong Kong, an industry source said.
Hong Kong offers a range of investment opportunities. Beyond traditional stocks, bonds, and real estate, the investment scope spans digital assets, Start - Up, green finance, renewable energy, and advanced technology. Notably, under the New CIES the government lowered the residential real estate transaction price threshold from 50 million Hong Kong dollars (about 9.4 billion won) per single property to 30 million Hong Kong dollars so that lower-priced properties can be included in the investment criteria.
It also raised the cap on the total amount of real estate investment recognized for meeting the minimum investment threshold from 10 million Hong Kong dollars (about 1.9 billion won) to 15 million Hong Kong dollars (about 2.8 billion won), broadening the range of amounts that can be recognized through real estate. However, the recognition limit for residential property remains 10 million Hong Kong dollars.
Another notable trend is the surge of Chinese initial public offering (IPO) funds flowing into Hong Kong. According to the Hong Kong Exchanges and Clearing (HKEX), Hong Kong raised 182.9 billion Hong Kong dollars (about 34 trillion won) through IPOs in the first to third quarters this year. That is seven times more than the same period last year. During this period, large corporations such as CATL, Hansoh Pharmaceutical, and Mixue, which are based in China, successively conducted IPOs in Hong Kong, propelling Hong Kong to the top of the global IPO market ahead of the Nasdaq in the United States.
In step with this trend, Korean financial institutions are active in Hong Kong. In the first five months of this year, Korea's major financial firms executed more than 1.5 trillion Hong Kong dollars (about 282 trillion won) in transactions on the Hong Kong stock market, and Korean investment banks participated as cornerstone investors (a system in which institutional investors commit to hold a certain amount long term and receive share allocations) in numerous Hong Kong IPOs.
A tax environment friendly to high-net-worth individuals is another of Hong Kong's strengths. Unlike Korea, which encourages the outflow of wealthy individuals with high tax rates, inheritance tax, dividend income tax, and corporate tax are effectively 0% in Hong Kong. In addition, a 0% profits tax rate applies to family-owned qualified investment corporations managed by single family offices (SFOs) in Hong Kong.
Allan Zeman, chair of Lan Kwai Fong Group, an Asian real estate developer, said, "Hong Kong offers an unparalleled environment for global wealthy individuals and families," adding, "Not only does it offer direct access to the 1.4 billion-strong Chinese market, it also has a reliable Anglo-American law-based asset management system, favorable taxation, and an urban environment where families can live safely together."
Hong Kong is also regarded as an attractive city in terms of living environment. An official at InvestHK said, "It combines a globally low crime rate, strike-free and stable transportation infrastructure, and the cultural and culinary environment befitting an international city," adding, "From downtown, a 10-minute walk gets you to the sea, and major Asian markets such as Shanghai, Tokyo, and Bangkok are within four hours." In addition, 79 Michelin-starred restaurants, abundant arts and cultural events, and world-class education are known to be attractive factors for investors.
The educational conditions that Koreans consider important are also well established. Hong Kong currently has 54 international schools in operation. In the QS World University Rankings 2026, nine universities made the list, five of which ranked in the global top 100. With educational infrastructure from kindergarten through graduate school, it is evaluated as a city where a child's entire growth can be supported in one place. An industry source said, "Hong Kong is where education, assets, and family life are in balance," adding, "Hong Kong is newly drawing attention as a city where Korean families can plan a stable life and future."