Hong Kong stop buy immigrant investment immigration increased to 10 million

Hong Kong SAR Government announced 13 for Hong Kong capital immigrants plan amendments, the revised applications from investment threshold by 650 million to 1000 million dollars, and real estate from capital investment entrant scheme of investment asset classes, since the 14 in.

A Government spokesman said the amendment aims to ensure that the plan to move with the times and continue to bring the best overall interests.

Relative to similar plans, overseas the amended plan remains competitive. Investment threshold (and net assets or net capital requirements) will be assessed every three years. This pause will real estate included permissible investment asset classes, will be the next reassessment.

Hong Kong Chief Executive Donald Tsang Yam-13, in the present Legislative Council 2010/2011 annual policy report also indicated that the Government takes note of the investment programme funds to invest in real estate are on the rise, the first nine months, the funds accounted for 42% of total investment in the plan, the Government decided to make such modifications.

In accordance with the provisions of the Government, before investment immigration applicants need to apply two years ago in Hong Kong has no less than 650 million of net assets, real estate and financial assets are applicants can invest.

He expressed the need to increase the supply of land, through the "application" and active land, to ensure that residential land is there, the next 10 years, on average, each year with the construction of about 2 000 private flat land.

But he stresses that this is not the production of rigid quotas, with the aim of the Government in a period of time to acquire adequate land reserve, the real estate market has a smooth supply of land. In addition, the Government will be cooperation with the Housing Association, launched the "reset at ease subsidized housing plan", to enter into a lease of a market rent, rent to eligible persons, the lease for a maximum period of 5 years. He anticipates that, together with the complete premium land lease modification, land exchange, port Corporation and the authority of the tender and no premium private redevelopment project, included in the next three to four years, there will be a first-hand residential 6.1 million flats.

He pointed out that the economy is currently phasing out of the shadow of the international financial crisis, the economy as a whole, the year-over-year leap 7.2% beyond the peak before the financial tsunami.

The unemployment rate fell to 4.2% since January last year, the lowest level, our economy this year is expected to be 5% to 6% growth.