A spokesperson for Invest Hong Kong, the Territory’s government agency, which facilitates foreign investment, has confirmed that crypto including ether (ETH) and Bitcoin (BTC) can be used as proof of assets when applying for the new Capital Investment Entrant Scheme Visa.
The visa requires applicants to prove ownership of net assets worth at least $ 30 million ($ 3.8 million) over a specified period. There are no specific assets for the asset type, the spokesman said in an E email, but a chartered accountant must sign up for a valuation report.
An accountant in Hong Kong has shared success stories on social media by Bitcoin and Ether, which is used as a proof of the act of the program.
Once the visa is approved, the applicant must invest another HK $ 30 million in what it calls “allowed assets”. A InvestHK spokesman confirmed to Coindesk that cryptocurrency is not considered a permitted asset for this part of the visa requirements.
Hong Kong currently has 9 licensed crypto exchanges that are locally known as virtual asset trading platforms.
A spokesman for the government said in January that the new capital investment participation scheme has over 750 applicants.
