Hong Kong Allows Bitcoin and Ethereum for Investment Immigration

YEREVAN (CoinChapter.com) — Hong Kong has officially recognized Bitcoin and Ethereum investment as valid proof of assets for investment immigration applications. Reports confirm that at least two applicants successfully used cryptocurrency holdings to meet the HK$30 million requirement.

First Crypto-Based Residency Approvals in Hong Kong

According to Colin Wu, at least two applicants have secured approval for Hong Kong investment immigration by using Bitcoin and Ethereum investment.

Xiao Yaohe, an accountant, stated that one of his clients successfully submitted Ethereum worth HK$30 million ($3.8 million) as proof of funds. Another applicant used Bitcoin and received approval in October 2024. While authorities have not disclosed full details, sources suggest that both individuals may be from mainland China.

Hong Kong’s Requirements for Crypto Asset Approval

Applicants for Hong Kong investment immigration must prove ownership of at least HK$30 million ($3.85 million) and commit to investing the same amount in Hong Kong digital finance within six months.

Authorities have set specific guidelines for crypto asset approval. Cryptocurrency holdings must be stored in cold wallets or held on regulated exchanges such as Binance. Officials will monitor asset holdings throughout the visa period to ensure compliance.

More Crypto Investors Submitting Residency Applications

Authorities confirmed that two additional applicants have submitted cryptocurrency residency applications using Bitcoin and Ethereum investment. This suggests a growing number of applicants are seeking investment visas with crypto.

Successful applicants initially receive a two-year visa. To obtain permanent residency, they must renew their visa three times and maintain compliance with crypto regulations in Hong Kong.

Crypto’s Role in Hong Kong Digital Finance

Hong Kong has introduced crypto regulations covering stablecoins, digital exchanges, and investment assets. These measures aim to establish a secure framework for integrating cryptocurrencies into the region’s financial ecosystem. The crypto asset approval for immigration aligns with Hong Kong’s broader strategy to regulate and expand its digital finance sector.

Authorities have not yet clarified whether direct cryptocurrency investments or crypto-based ETFs will qualify under this program. However, recent approvals demonstrate that Hong Kong investment immigration is now open to Bitcoin and Ethereum investment, signaling increasing acceptance of crypto asset approval in financial policies.

Recent data highlights Hong Kong’s exceptional growth in the region. A chart comparing growth rates in Eastern Asia from July 2022 to June 2023 versus July 2023 to June 2024 shows that Hong Kong experienced a growth rate exceeding 75%, far outpacing neighboring countries. South Korea, China, Taiwan, and Macao reported significantly lower growth rates. This underscores Hong Kong’s leadership in embracing crypto adoption and its drive to maintain its dominance in the digital finance sector.

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The post Hong Kong Allows Bitcoin and Ethereum for Investment Immigration appeared first on Coinchapter.