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Xu Zhengyu: The New Capital Investor Entry Program currently does not consider assets held in non-wholly-owned companies or other means as proof of assets

In reply to Mr. Hui's question, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Cheng-yu, said that since the launch of the New Capital Investor Entry Scheme, Invest Hong Kong will also consider accepting the applicant's assets held by his wholly-owned private company as proof of assets according to the actual circumstances of the case. If the applicant holds assets through other non-wholly-owned entities, the share of absolute beneficial ownership cannot be clearly determined. Therefore, at the asset review stage, the "new scheme" currently does not consider assets held by non-wholly-owned companies or other means as proof of assets. Regarding measures related to virtual assets, Hui Zhengyu pointed out that according to the requirements, licensed corporations must notify the Hong Kong Securities Supervision Commission in advance if they intend to engage in any activities involving virtual assets, while registered institutions must notify the Hong Kong Securities Supervision Commission and the Hong Kong Monetary Authority. Generally speaking, licensed or registered intermediaries can distribute virtual asset-related products after notifying the relevant regulators of the regulated activities without applying for modification of the licensing conditions.