Since the Capital Investment Entrant Scheme was launched here on Oct. 27, 2003, 111 of the 339 applications received as of May 29, 2004, had been granted formal approval to stay in Hong Kong.

Hong Kong's Secretary for Security Ambrose S K Lee told the Legislative Council on Wednesday that "Approval-in-principle" had been granted to another 82 applications, allowing the applicants concerned to come to Hong Kong as visitors to make the necessary investment.

Up to now, the Immigration Department has only rejected one application.

Of the 339 applicants, 137 are foreign nationals, 158 are Chinese nationals who have obtained permanent resident status in a foreign country, 33 are Taiwan residents, 10 are Macao Special Administrative Region (SAR) residents and one is a stateless person who has obtained permanent resident status in a foreign country.

Their investments amount to about 796 million HK dollars (US$102 million) in total, representing an average of 7.17 million HK dollars (US$920,000) per entrant.

The scheme with the current investment threshold of 6.5 million HK dollars (US$830,000) currently applies to foreign nationals, Chinese nationals who have obtained permanent resident status in a foreign country, stateless persons who have obtained permanent resident status in a foreign country, Macao SAR residents and Taiwan residents.

Applicants may choose to invest in either or a combination of the two permissible asset classes, namely, real estate and specified financial assets that include equities, debt securities,certificates of deposits, subordinated debt and eligible unit trusts or mutual funds.
 
(Xinhua News Agency June 10, 2004)