Hong Kong's New Capital Investment Entrant Scheme draws significant interest Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, announced in his latest blog post on Thursday that the New Capital Investment Entrant Scheme has already received 750 applications. This influx is anticipated to bring over HK$22 billion in investments to Hong Kong. In his inaugural blog post of the year, Secretary Hui highlighted the scheme's immediate success since its launch, noting the substantial number of applications and the significant potential investment they represent. He expressed optimism about the scheme's impact on Hong Kong's financial sector. Furthermore, Hui mentioned ongoing efforts to refine the program. Enhancements will include allowing investments through eligible private companies that are wholly owned by the applicant. This adjustment aims to synergize with initiatives designed to attract family offices to establish themselves in Hong Kong, thereby bolstering the city's appeal as a premier destination for wealth management. The authority is also considering improvements to the tax arrangements for carried interests of private equity funds. Proposed changes include eliminating the threshold rate of return requirements, simplifying administrative procedures, and providing fund managers with increased flexibility. These adjustments are intended to attract more private equity funds to set up operations in Hong Kong. These strategic initiatives are set to further solidify Hong Kong’s status as a global hub for asset and wealth management, injecting new vitality into its financial market. https://www.thestandard.com.hk/breaking-news/section/4/224355/Hong-Kong's-New-Capital-Investment-Entrant-Scheme-draws-significant-interest (ICE HONG KONG)

Fonte notizia: The Standard