Hong Kong Approves Bitcoin as Proof of Assets for Investors

Hong Kong authorities have reportedly recognized Bitcoin and Ethereum as valid proof of assets for investment immigration applications.

This milestone move signals the region’s increasing openness to digital assets in its financial system.

Hong Kong Paves the Way for Crypto Investors in Immigration Applications

According to reports from Colin Wu, the Hong Kong government has approved at least two applicants who used Bitcoin and Ethereum to meet the investment immigration threshold.

Xiao Yaohe, an accountant, revealed that one of his clients secured approval from the Hong Kong Investment Promotion Agency by presenting Ethereum, valued at HK$30 million (approximately $3.8 million), as proof of assets.

Another applicant, whose request was approved in October 2024, used Bitcoin to meet the requirement. While specific details remain undisclosed, sources suggest both applicants may be from mainland China.

These approvals mark a turning point for cryptocurrency adoption in Hong Kong’s immigration policies.

Authorities confirmed that they reached these decisions after extensive internal discussions. They also disclosed that two more individuals had submitted cryptocurrency holdings as part of their application processes.

To be eligible for investment immigration, applicants must prove they own at least HK$30 million ($3.85 million) in assets and commit to investing the same amount in Hong Kong within six months.

The government requires that crypto assets be stored in cold wallets or held on reputable exchanges such as Binance.

Historically, investment immigration in Hong Kong has primarily revolved around stocks. However, it remains unclear whether direct cryptocurrency investments or crypto-based exchange-traded funds (ETFs) will qualify under these new approvals.

Successful applicants initially receive a two-year visa, which requires three renewals before obtaining permanent residency. Authorities will monitor asset holdings throughout this period to ensure compliance.

This move reflects Hong Kong’s ambition to strengthen its position as a global hub for digital finance. Over the years, the city has prioritized regulatory frameworks for stablecoins and crypto exchanges to its leadership in Asia’s digital asset sector.