Hong Kong Approves Bitcoin, Ethereum for Investment Immigration

Hong Kong has made a significant move in the digital finance landscape by approving Bitcoin and Ethereum as recognized proof of assets for investment immigration applications. This decision marks a decisive step towards integrating digital assets within the city's financial framework and paves the way for new crypto investors.

The Hong Kong government has successfully processed at least two applicants who have utilized crypto holdings to satisfy the requisite investment threshold of HK$30 million. An accountant named Xiao Yaohe shared that a client received approval by presenting Ethereum valued at approximately HK$30 million, equivalent to $3.8 million, establishing a precedent for future applications. Another candidate, whose application was approved in October 2024, leveraged Bitcoin to meet the investment criteria. While specific applicant identities remain confidential, there are indications that both are likely from mainland China.

Officials have confirmed that their decisions came after thorough internal discussions, noting that two additional candidates have submitted cryptocurrency holdings as part of their applications. For candidates to qualify for investment immigration, they must demonstrate ownership of at least HK$30 million in assets and express a commitment to invest the same amount within Hong Kong within six months. Additionally, the Hong Kong government stipulates that crypto assets must be securely stored in cold wallets or held on reputable exchanges.

Approved applicants receive an initial two-year visa, which requires three renewals before they can attain permanent residency. Throughout this duration, authorities will vigilantly monitor asset holdings to ensure that they remain compliant with investment requirements. This recent policy shift is emblematic of Hong Kong's aspirations to reinforce its standing as a global leader in digital finance. Over the years, the region has taken proactive steps to establish regulatory frameworks for stablecoins and crypto exchanges, thereby enhancing its leadership position in Asia's expanding digital asset market.

The decision to allow cryptocurrencies as acceptable proof of assets in immigration applications signifies a transformative moment in Hong Kong's financial landscape. It not only highlights the increasing legitimacy of digital currencies but also reinforces the city's efforts to be at the forefront of the global digital finance movement. As regulatory frameworks continue to evolve, the implications for both investors and the wider financial ecosystem could be profound.