Hong Kong has taken a groundbreaking step by accepting Bitcoin and Ethereum as valid proof of assets for investment immigration applications, marking a major shift in the region's approach to digital assets.
The Hong Kong government has already approved at least two applicants who used cryptocurrencies to meet immigration requirements. One notable case involved an applicant who presented Ethereum worth HK$30 million (approximately $3.8 million) as proof of assets, which was accepted by the Hong Kong Investment Promotion Agency.
Another successful application in October 2024 utilized Bitcoin holdings to satisfy the requirements. While specific details of these cases remain private, sources indicate the applicants may have originated from mainland China.
The new policy requires applicants to demonstrate ownership of at least HK$30 million in assets and commit to investing the same amount in Hong Kong within six months. For cryptocurrency holdings, assets must be stored in cold wallets or held on established exchanges like Binance.
Under the current immigration framework, successful applicants receive an initial two-year visa. They must complete three renewal cycles before becoming eligible for permanent residency. Throughout this period, authorities will monitor asset holdings to verify ongoing compliance.
While traditional investment immigration in Hong Kong has typically focused on stocks, the acceptance of cryptocurrencies represents a progressive stance. However, questions remain about whether direct cryptocurrency investments or crypto-based exchange-traded funds will qualify under these new guidelines.
This policy change aligns with Hong Kong's broader strategy to establish itself as a leading digital finance hub in Asia. The region has been actively developing regulatory frameworks for stablecoins and cryptocurrency exchanges to strengthen its position in the global digital asset landscape.