Hong Kong has officially approved Bitcoin (BTC) and Ethereum (ETH) as acceptable proof of assets for investment immigration applications. This landmark decision follows two successful cases where mainland Chinese applicants used cryptocurrencies to fulfill financial requirements.
Key Developments in Hong Kong’s Immigration Policy
Cryptocurrencies Gain Legal Recognition
The Hong Kong Investment Promotion Agency now permits BTC and ETH as valid asset proofs for residency applications. Accountant Xiao Yaohe revealed on February 7, 2025, that a client secured approval by declaring ETH holdings worth HKD 30 million (~USD 3.85 million). Another case involved Bitcoin holdings as economic proof.
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Requirements for Investment Immigration
- Minimum Asset Threshold: HKD 30 million (~USD 3.85 million).
- Investment Window: Approved applicants must allocate funds within six months.
- Visa Structure: Initial two-year visa, renewable in 2-2-3 cycles before permanent residency.
Comparison with Other Jurisdictions
Singapore has long accepted crypto for similar applications but mandates tracing the origin of funds. Hong Kong’s approval process took one month of internal review for the first crypto-based application.
APAC’s Growing Dominance in Retail Crypto Activity
Retail Adoption Outpaces the West
A Gemini-GlassNode 2025 report highlights:
- APAC retail Bitcoin transactions grew 6.4% since December 2022.
- The U.S. and Europe saw declines of 5.7% and 0.7%, respectively.
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Regulatory Clarity Drives Participation
Saad Ahmed of Gemini APAC attributes this growth to clearer regulations in Singapore and South Korea, fostering investor confidence.
FAQs
1. Can other cryptocurrencies be used for Hong Kong immigration?
Currently, only Bitcoin and Ethereum are approved.
2. How are crypto assets verified?
Funds must be held on major exchanges or cold wallets.
3. Is proof of fund origin required?
Unlike Singapore, Hong Kong does not yet mandate this.
4. What’s the processing time for crypto-based applications?
Approximately one month for initial reviews.
5. Are ETFs or institutional holdings eligible?
No, only direct crypto holdings qualify.
6. How does this impact Hong Kong’s crypto economy?
Signals progressive regulation, attracting high-net-worth investors.