HK comments leave the door open to use of cryptocurrencies as proof of wealth
By Summer Zhen:
Hong Kong (Reuters) – The Hong Kong government first replied that questions of using cryptographic action for immigration scheme after a local accountant.
Certified Public Accountant in Hong Kong said Clement Siu said that two cases were treated in the media when Bitcoin and EHTher were used as proof of customer assets.
Secret currents are not approved for direct investment under the immigration scheme, but SIU cases believe that they can be used as evidence of potential immigration wealth.
The Hong Kong Investment Promotion Department, Investhk, which applies to a new capital investment scheme (new Cies), said that “there have been no special requirements on asset classes.”
Hong Kong has recovered an investment immigration scheme on March 2024 to attract capital. Applicants must show that they control the assets worth at least $ 30 million ($ 3.9 million), then invest in some approved assets to accommodate.
“Investhk has never said that crypto assets are acceptable or not, but they should try, so we just tried Reuters in Globe’s Vizos CPA.
Investhk has not specifically commented on the cases of whether SIU is underlined and did not say how many immigration applications were made by Cryptocures as evidence of wealth.
Hong Kong competes against regional rivals such as Singapore and Dubai to become a global node of virtual assets.
“Virtual assets as evidence of assets shows that virtual assets have the same status as traditional assets in Hong Kong to promote the main partner of significant assets,” said Jupiter in the capital of Heshi.
The Hong Kong Investment Immigration scheme is not open to the mainland Chinese, but they can bypass these restrictions if they reside a permanent country, say analysts. This can cause concern about the possible avoidance of Chinese capital control.
SIU said that one of his customers who had Etro, as evidence of wealth, was in the Department of Chinese National Holding Guinea-Bissau.
In June, Hong Kong government data showed that more than 250 new Cies applicants were from Guinea-Bissau or Vanuatu.
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