Hong Kong Confirms Bitcoin and Ethereum Can Be Used as Proof of Wealth for Investment Visas
PANews reported on February 11 that according to CoinDesk, a spokesperson for Invest Hong Kong confirmed that cryptocurrencies including Bitcoin and Ethereum can be used as proof of assets when applying for a "Capital Investor Entrant Scheme" visa. The visa requires applicants to prove that they have a net worth of at least HK$30 million (about US$3.8 million) during a specific period. The spokesperson said in an email that there are no specific asset type requirements, but the valuation report must be signed by a chartered certified accountant.
An accountant in Hong Kong shared a success story on social media about Bitcoin and Ethereum as proof of assets for the program. Once the visa is approved, the applicant must invest another HK$30 million in so-called "permitted assets." A spokesperson for InvestHK confirmed that cryptocurrencies are not considered "permitted assets" in the visa requirements.
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