Hong Kong Accepts Bitcoin for Immigration
Hong Kong Welcomes Crypto for Investment Immigration
In a significant move, Hong Kong has reportedly begun accepting Bitcoin (BTC) and Ethereum (ETH) as valid proof of assets for investment immigration applications. This decision reflects Hong Kong's growing acceptance of digital assets within its financial system.
Cryptocurrency Accepted for Immigration
According to reports, at least two applicants successfully used cryptocurrencies to meet the investment threshold. One applicant, whose case was handled by accountant Xiao Yaohe, secured approval using HK$30 million (approximately $3.8 million) in Ethereum. Another applicant, approved in October 2024, used Bitcoin. While details remain limited, sources suggest both applicants may be from mainland China.
This marks a pivotal moment for cryptocurrency adoption in Hong Kong's immigration policies, previously focused on traditional assets like stocks. The Hong Kong government confirmed the approvals after internal review, and two additional applications using cryptocurrency are reportedly under consideration.
- Investment Requirement: Applicants must demonstrate ownership of at least HK$30 million ($3.85 million) in assets and pledge to invest the same amount in Hong Kong within six months.
- Cryptocurrency Storage: Crypto assets must be held in cold storage wallets or reputable exchanges like Binance.
- Visa Process: Successful applicants initially receive a two-year visa, requiring three renewals before obtaining permanent residency. Asset holdings are monitored throughout this period.
While the specifics of whether direct cryptocurrency investments or crypto-based ETFs qualify remain unclear, this development positions Hong Kong as a leading hub for digital finance in Asia. The government's proactive approach towards regulating stablecoins and crypto exchanges further strengthens its commitment to the sector.
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