Hong Kong Immigration Accepts Bitcoin and Ethereum as Asset Proof
Hong Kong has started accepting Bitcoin as proof of assets for investment immigration applications. The Hong Kong Investment Promotion Agency has approved two cases where applicants used digital assets to meet the HK$30 million ($3.8 million) residency requirement.
The most recent approval came on February 7, 2025, when an applicant used Ethereum worth HK$30 million as proof of assets. This follows the first case in October 2024, when another applicant received approval using Bitcoin. Both successful applicants were from mainland China.
Accountant Xiao Yaohe, who handled one of the applications, said that the agency had not received such applications before. The first case went through a month-long internal review before approval. The agency now requires digital assets to be stored in cold wallets or on major exchanges like Binance.
Under Hong Kong's New Capital Investment Entrant Scheme (New CIES), applicants must first prove ownership of HK$30 million in assets. After approval, they have six months to invest the same amount in eligible assets in Hong Kong. While stocks have been the main investment option historically, it is not yet clear whether Bitcoin ETFs or direct Bitcoin holdings will qualify for the investment requirement.
The successful applicants receive an initial two-year visa. To obtain permanent residency, they must renew their visas following a 2-2-3 year pattern, confirming they maintain their qualifying investments throughout this period. After completing this process, they can apply for permanent status.
Two more applications using Bitcoin and Ethereum as proof of assets are now under review. For comparison, Singapore has always accepted Bitcoin as proof of assets, though applicants often face difficulties proving the source of their initial digital asset investments.
