365Crypto
Crypto Now Valid for Immigration Applications
Hong Kong has reportedly started accepting Bitcoin and Ethereum as proof of assets for investment immigration, marking a major step toward integrating digital assets into its financial system.
Successful Applications Using Crypto
At least two applicants have used cryptocurrency to meet the HK$30 million ($3.85 million) investment threshold. One case involved an Ethereum holder who secured approval from the Hong Kong Investment Promotion Agency, while another applicant met the requirement using Bitcoin in October 2024. Both individuals are believed to be from mainland China.
Authorities confirmed these approvals followed extensive discussions. Two more individuals have since applied using crypto holdings.
Crypto Storage and Compliance
Applicants must store their crypto assets in cold wallets* or on reputable exchanges like Binance. Hong Kong typically requires investment funds to be placed in stocks, and it remains unclear whether direct crypto investments or ETFs** will qualify in the long run.
Successful applicants receive a two-year visa, requiring three renewals before permanent residency. During this time, authorities will monitor their asset holdings to ensure compliance.
Hong Kong’s Push for Digital Finance
This decision aligns with Hong Kong’s broader goal of becoming a leading digital finance hub. The city has already introduced regulatory frameworks for stablecoins and crypto exchanges, reinforcing its role as a key player in Asia’s crypto landscape.
*Cold Wallet: A secure offline storage method for cryptocurrencies.
**ETF (Exchange-Traded Fund): A financial product that tracks the price of an asset, like Bitcoin, and trades on stock exchanges.
