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Cryptocurrency News Articles

Bitcoin and Ethereum Now Accepted for Hong Kong Visa

Feb 12, 2025 at 02:30 am

Hong Kong has updated its investment visa program to allow Bitcoin and Ethereum as proof of wealth. The program, which requires a net worth of HK$30 million

Bitcoin and Ethereum Now Accepted for Hong Kong Visa

Hong Kong has officially recognized Bitcoin and Ethereum as part of its investment visa program. This move allows crypto holders to use their digital assets to demonstrate their wealth and qualify for residency in the territory.

The Capital Investment Entrant Scheme (CIES) requires applicants to have a net worth of at least HK$30 million (around $3.8 million) and to invest HK$30 million in permitted assets after obtaining the visa.

While digital assets can now be used to prove wealth, they cannot be used to fulfill the mandatory investment requirement.

According to a recent report by the South China Morning Post, the new regulation permits various assets to be used for wealth verification. Cryptocurrency holdings are among the accepted assets, subject to specific verification standards.

To qualify, applicants must provide evidence of their crypto assets, such as transaction histories and wallet addresses. A chartered public accountant will then conduct a thorough review and attest to the value of the digital assets with a signed report.

This verification process has prompted local accountants to adapt their services to meet the new requirements. Chartered public accountants in Hong Kong are now developing specialized methods to assess cryptocurrency assets.

They are employing unique valuation techniques and working closely with clients to ensure proper documentation of Bitcoin and Ethereum holdings for visa applications.

The Hong Kong government's decision to accept digital assets for its investment visa program highlights its progressive approach to cryptocurrency regulation.

The territory has taken a measured approach to crypto regulation, with licensed platforms operating under local policies. This development reflects Hong Kong's strategy to integrate cryptocurrency into its financial hub status.

The investment visa program, which began accepting applications in February 2025, has already attracted significant interest. As of March 2025, over 750 individuals had applied for the visa, seeking to qualify through various asset classes.

This program provides an alternative pathway for wealthy individuals to obtain residency in Hong Kong, complementing the territory's existing immigration policies.

It is also noteworthy that Hong Kong differs from other jurisdictions that do not recognize digital assets for immigration purposes.

For instance, in the United States, cryptocurrency holdings are not explicitly recognized for obtaining an EB-5 visa, which requires an investment of at least $800,000.

However, some applicants have reportedly used crypto gains to qualify for the visa indirectly.

In contrast, Hong Kong's direct acceptance of digital assets for its investment visa program showcases its embrace of crypto innovation within its immigration framework.

Moreover, Invest Hong Kong, the agency handling the program, has clarified that there are no restrictions on the types of assets that applicants can use for wealth verification.

This approach aligns with the government's aim to strike a balance between encouraging innovation and adhering to regulatory standards, while also providing clear guidelines for potential applicants.

Original source:tronweekly

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