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The Immigration Department today (March 13) announced that from Monday (March 16), a new arrangement would be implemented to shorten the processing time of applications submitted under the Capital Investment Entrant Scheme.
According to the scheme rules, applicants have to meet eligibility criteria, including that they have net assets or net equity to which they are absolutely beneficially entitled with a market value of not less than $6.5 million net throughout the two years preceding the date the application was lodged.
Under the new arrangement, applicants may hire a Certified Public Accountant (Practising) who is a member of the Hong Kong Institute of Certified Public Accountants to issue a report to demonstrate that they meet the assets requirement.
"This is an optional arrangement and whether or not a practising CPA is engaged will not affect the outcome of the application," an Immigration Department spokesman said. "The new arrangement, which also applies to applications submitted before the implementation date, will significantly reduce the processing time of applications."
For enquiries, please call the Immigration Enquiries Hotline at 2824 6111 or the Other Visas and Permits Section of the Immigration Department at 2829 3232. For information on CPA firms in Hong Kong, please visit http://www.hkicpa.org.hk/membership/list/cpa/index.php.
Ends/Friday, March 13, 2009
Issued at HKT 18:37
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