Hong Kong Accepts Bitcoin and Ethereum for Investment Visas

In a new development in the cryptocurrency sector, Hong Kong authorities have reportedly recognised Ethereum and Bitcoin as valid proof of financial assets for investor visa applications.

This decision demonstrates Hong Kong's openness to the adoption of digital currencies and their integration into the local financial system.

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According to published reports, the Hong Kong government has approved the use of cryptocurrencies for investor visa applications. The document states that two individuals used Bitcoin and Ethereum to meet the visa requirements.

One accountant, Xiao Yaohe, revealed that one of his clients obtained approval from the Hong Kong Investment Promotion Agency using Ethereum, worth HK$30 million.

Another applicant used Bitcoin to meet the requirement and his application was approved in October 2024. Although specific details on the applicants have not been disclosed, both are believed to be from Mainland China.

These two approvals mark a new era in the adoption of cryptocurrencies within Hong Kong's migration policies.

Hong Kong authorities confirmed that the final decision was reached after extensive internal discussions. The report also indicates that two other people applied by attaching their holdings in cryptocurrencies.

According to the investor visa requirements, applicants must show proof of owning at least HK$30 million (about US$3.85 million) and commit to investing the same amount in the region within six months. The government also requires cryptocurrencies to be stored in cold wallets and deposited on reputable platforms, such as Binance.

In the past, investment immigration in Hong Kong was mainly based on shares, but it is currently unclear whether the Exchange Traded Funds (ETFs) or direct investments in cryptocurrencies will fall under the new regulations.

Approved applicants will receive a two-year visa, renewable three times. During this period, authorities will monitor holdings in digital assets.

The inclusion of cryptocurrencies in investor visas highlights the integration of digital assets into the financial system. With this move, Hong Kong positions itself as the first global hub to harness digital assets. The city has always prioritised regulatory frameworks for cryptocurrencies and exchanges, and this announcement is a further step in that direction.