Hong Kong Recognizes Bitcoin and Ethereum for Investment Immigration Applications
Hong Kong has recognized Bitcoin and Ethereum as valid proof of assets for investment immigration applications. This marks a significant development in the region's acceptance of digital finance.
- Two applicants used cryptocurrency holdings to meet the HK$30 million (approximately $3.8 million) requirement for investment immigration.
- One applicant secured approval using Ethereum, while another used Bitcoin.
- Both successful applicants are believed to be from mainland China.
- Applicants must demonstrate ownership of HK$30 million in assets and invest the same amount in Hong Kong within six months.
- Crypto assets must be stored securely in cold wallets or on reputable exchanges.
- Regulatory focus has traditionally been on stock investments; eligibility of direct crypto investments or ETFs remains uncertain.
- A two-year visa is granted initially, renewable three times before applying for permanent residency.
- This initiative supports Hong Kong's goal to become a global hub for digital finance.
Authorities will monitor asset holdings throughout the application process to ensure compliance.