Hong Kong has begun accepting Bitcoin (BTC) and Ethereum (ETH) as proof of assets for investment immigration applications. This landmark decision marks a shift in Hong Kong’s financial strategy, embracing digital assets within its immigration policies.
Here’s what you need to know:
- Policy Change: Hong Kong now recognizes Bitcoin and Ethereum as legitimate assets for individuals seeking investment immigration.
- Minimum Requirement: Applicants must demonstrate ownership of at least HKD 30 million (approximately $3.8 million USD) in cryptocurrency assets.
- Successful Cases: As of February 2025, two applicants, both reportedly from mainland China, have already had their applications approved using Bitcoin and Ethereum. One applicant used Bitcoin in October 2024, and another submitted Ethereum worth HKD 30 million on February 7, 2025.
- Storage Requirements: Applicants are required to store their crypto assets in cold storage devices or transfer them to reputable exchanges like Binance.
- Visa Process: Successful applicants initially receive a two-year temporary visa, which can be extended in a 2-2-3 year cycle before they can apply for permanent residency. Visa renewal requires proof of continued ownership of the required investment assets.
- Market Impact: The announcement of this policy change led to increases in the price and trading volume of Bitcoin and Ethereum.
This move signals Hong Kong’s ambition to become a global hub for digital finance. The Hong Kong Investment Promotion Agency is currently reviewing additional applications using cryptocurrency.
