Hong Kong investment immigration recognizes Bitcoin and Ethereum as proof of assets for the first time

Odaily News Hong Kong accountant Xiao Yaohe said that on February 7, 2025, a client used Ethereum worth HK$30 million as asset proof and applied for investment immigration to the Hong Kong Investment Promotion Agency and was approved. In October 2024, a client who used Bitcoin as asset proof was also approved. This is the first case in Hong Kong where an application for investment immigration using cryptocurrency as an asset was approved. The relevant clients are basically from mainland China.
Xiao Yaohe said that specifically, Hong Kong investment immigration applicants need to prove that they hold HK$30 million in assets, and then invest HK$30 million in Hong Kong within six months, mainly in stocks in the past. It is not yet clear whether investing in cryptocurrency ETFs or directly investing in cryptocurrencies can meet the requirements. The applicant is initially issued a visa for two years, and then needs to renew it 2-2-3 to ensure that the corresponding investment assets are still held before they can be approved for permanent status.
Some comments also pointed out that in Singapore, cryptocurrencies have always been used as proof of assets, but the difficulty is that customers cannot provide proof of their initial investment funds in cryptocurrencies.
Xiao Yaohe said that after the first application, Invest Hong Kong said it was the first time it had received an application using cryptocurrency as proof of assets, and then approved it after a month of internal discussion. In addition to the two successful clients mentioned above, there are two more clients who use cryptocurrency as proof of assets in the process of applying. Clients' crypto assets must be placed in cold wallets or mainstream exchanges such as Binance.