Hong Kong New CIES: family-office holding vehicle measure from 1 March 2026
InvestHK publishes a New CIES measure effective from 1 March 2026: applicants may hold permissible investments through a qualifying Hong Kong family-owned investment holding vehicle managed by an eligible single family office.
By Beyond Borders Editorial Team
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- Last reviewed
- Reading time
- 3 min read
Key points
- The New CIES official site summarises a measure effective from 1 March 2026 allowing an applicant to hold Scheme investments in a private company that meets stated conditions.
- The company must be incorporated or registered in Hong Kong, wholly owned by the applicant, used only for permissible investment assets, and structured as a Family-owned Investment Holding Vehicle (FIHV) or a Family-owned Special Purpose Entity under an FIHV, as defined in Schedule 16E to the Inland Revenue Ordinance.
- The FIHV must have at least two full-time employees in Hong Kong and incur at least HK$2 million operating expenditure annually in Hong Kong; it must be managed by an Eligible Single Family Office managing aggregate net assets of not less than HK$240 million for the family FIHV(s).
- This article does not repeat the separate New CIES net-asset and investment thresholds already covered in our Policy Address piece; readers should check ImmD and InvestHK pages together.
What changed from 1 March 2026
InvestHK’s New CIES site publishes a new measure effective from 1 March 2026. It says an Applicant or Entrant may hold Scheme investment in a private company that, before the investment-requirements assessment and during the subsequent permission to stay in Hong Kong:
- is incorporated or registered in Hong Kong under the Companies Ordinance (Cap. 622);
- is wholly owned by the Applicant or Entrant;
- is used only for transactions in permissible investment assets;
- is a Family-owned Investment Holding Vehicle (FIHV) as defined in section 5 of Schedule 16E to the Inland Revenue Ordinance (Cap. 112), or a Family-owned Special Purpose Entity under an FIHV as defined in section 6 of that Schedule; and
- is managed by an Eligible Single Family Office of the Applicant or Entrant’s family as defined in section 2 of Schedule 16E.
Employee, expenditure and assets thresholds
The same page says the FIHV must have at least two full-time employees in Hong Kong and incur at least HK$2 million operating expenditure annually in Hong Kong to carry out FIHV activities. If the FIHV has been established for less than one year, that annual expenditure must be incurred by the end of the first year and each subsequent applicable year.
The Eligible Single Family Office must manage assets specified under Schedule 16C for the family’s FIHV(s) with an aggregate net asset value of not less than HK$240 million.
The page also says the Applicant or Entrant may transfer holding of permissible financial assets to the holding company during the permission to stay so that the family’s Eligible Single Family Office may benefit from the tax concession regime. That is a statement about the published measure; it is not a tax outcome for any family.
What this does not mean
Statutory definitions and InvestHK assessment still apply. Immigration decisions remain with the Director of Immigration. This piece is not legal, tax or immigration advice.
What this does not mean
- It does not mean every family office structure qualifies; the statutory definitions and InvestHK assessment apply.
- It does not change the Director of Immigration decision on any individual permission to stay.
- It is not tax, legal or immigration advice.
Government-published fees
Set by the government and subject to change. Not a Beyond Borders quote.
| FIHV minimum annual operating expenditure in Hong Kong (New CIES new-measure page) | HK$2 million | Official source · checked 21 Oct 2026 |
|---|---|---|
| Eligible Single Family Office aggregate net asset value threshold for FIHV(s) of the family (New CIES new-measure page) | HK$240 million | Official source · checked 21 Oct 2026 |
Official sources
InvestHK — New Capital Investment Entrant Scheme
New measure effective from 1 March 2026VerifiedGovernmentaccessed 22 Oct 2026
Evidence labels: Verified — we checked this against the official source; Reported — from a named press report, not an official statement; Analysis — our reading of the sources.
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