Six months after its relaunch, Hong Kong's Capital Investment Entrant Scheme (CIES) has received 500 applications, demonstrating continued interest in the program. The government reports that 47 applicants have already met the scheme's investment requirements, each investing at least HK$30 million in the city.

Of the 500 applicants, 448 individuals have successfully demonstrated net assets of at least HK$30 million over the two years preceding their application. The 47 verified applicants who have already invested are now awaiting visa approval from the Immigration Department.

Each application represents a HK$30 million (US$3.8 million) investment commitment, potentially injecting HK$15 billion into the local economy. InvestHK claims it has fielded over 5,000 inquiries during the first six months of operation.

The slower pace of investment completion is attributed to the 180-day window applicants have to complete their investments after approval, allowing them time to choose investment products and directions carefully.

Historical data suggests significant room for growth in the newly relaunched program, with the total number of applicants under the old CIES nearing 20,000 in the five years between 2011 and 2015.

Earlier reports indicated that most applicants were residents of Vanuatu and Guinea-Bissau, leading to speculation that these were Chinese citizens with foreign Citizenship by Investment passports, as Chinese nationals are otherwise ineligible to apply.

The CIES is designed to attract high-net-worth individuals, mandating a minimum investment of HK$30 million (US$3.85 million) in permissible assets. Applicants can invest in areas such as non-residential real estate or financial products, with specific allocation requirements for financial assets and a CIES investment portfolio.