The scheme requires a minimum net asset threshold of HK$30m over two years prior to application and an investment of the same amount into Permissible Investment Assets. These include a mandatory HK$3m contribution to a government-managed portfolio by the Hong Kong Investment Corporation and HK$27m across eligible public market securities, private funds, and non-residential real estate. Notably, the scheme allows for up to HK$10m to be invested in non-residential real estate, provided the property is fully owned by the applicant or their wholly owned company. Mortgages are permitted, though only the equity portion qualifies. Applicants must maintain investment thresholds for seven years, and profits may not be withdrawn apart from cash income like dividends or rent. The updated framework introduces greater flexibility than its predecessor, with permissible investments now extending to private limited partnership funds (LPFs) and open-ended fund companies, subject to defined caps....
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