*********************************************************
An Immigration Department spokesman announced today (June 22) that a refinement will be made to the rules of the Capital Investment Entrant Scheme (the Scheme Rules) to facilitate the inclusion of investment-linked assurance scheme products which satisfy the relevant requirements as Eligible Collective Investment Schemes.
Following exchanges with the insurance industry last year, the Government had agreed that under the Capital Investment Entrant Scheme, investment-linked assurance schemes products can be accepted as permissible investment assets, if they fall under the definition of a collective investment scheme prescribed in the Securities and Futures Ordinance. Having consulted the relevant regulators and the insurance industry, the Government has made a refinement to the Scheme Rules to facilitate the above change.
The refined Scheme Rules will come into force on July 6, 2010, and will be available on the Immigration Department's website, www.immd.gov.hk/ehtml/hkvisas_13.htm, on the same date.
Ends/Tuesday, June 22, 2010
Issued at HKT 12:01
NNNN