Hong Kong New CIES 2026: Applying for Unconditional Stay If Not Eligible for PR
If your seven years under the New Capital Investment Entrant Scheme (New CIES) end without qualifying you for the right of abode, the scheme still has an exit: you can apply for unconditional stay. The Immigration Department sets out this route on its "New Capital Investment Entrant Scheme" FAQ page, and it carries two results — permission to enter and remain in Hong Kong with no conditions or limit of stay attached, and freedom to dispose of the permissible investment assets, subject to the terms and conditions of the underlying investments.
You do not start with the Immigration Department. Invest Hong Kong (InvestHK) has to verify your seven-year compliance record first, and only then does the Immigration Department (ImmD) assess the application.
Who does the seven-year option cover?
New CIES entrants are people InvestHK has already verified as meeting the net asset requirement — net assets or net equity of not less than HK$30 million, held throughout the six months before the net asset assessment — and the investment requirement of committing not less than HK$30 million to permissible investment assets. Everything below concerns the point at which permission to stay approved under the scheme adds up to seven years.
Count from approvals, not simply from arrival. Eligibility is defined by permission to stay you have been granted under the New CIES, and the FAQ ties the application to the end of the seventh year of that permission.
Does seven years under the New CIES make you a permanent resident?
No. ImmD states that even if you have continuously satisfied the financial requirements and been approved an extension of stay under the New Scheme Rules for seven years, this does not constitute any implication or acknowledgement that you have met the ordinary residence requirement, or the other requirements under the Immigration Ordinance (Cap. 115 of the Laws of Hong Kong), for acquiring the right of abode.
Anyone claiming to be a Hong Kong permanent resident must apply separately, under established procedures, for verification of eligibility for a permanent identity card. That application succeeds only if the person meets the legal test of having ordinarily resided in Hong Kong for a continuous period of not less than seven years, along with the other relevant provisions of the Immigration Ordinance.
The department acknowledges the mismatch directly: an entrant can meet the Portfolio Maintenance Requirements for seven years and still fall short of the continuous ordinary residence requirement. Missing permanent residence does not mean missing every option.
Can you apply for unconditional stay instead?
Yes. An entrant may apply for, and if approved obtain, unconditional stay following the end of the seventh year in which he or she has been approved an extension of stay in accordance with the New Scheme Rules. Unconditional stay permits entry to and stay in Hong Kong without being subject to any conditions or limit of stay.
That is clearly different from what entrants hold during the qualifying period. New CIES permission is time-limited — not more than 24 months on formal approval of the entry application, and normally not more than three years for each extension thereafter — and conditional on continuing to satisfy the scheme's requirements. Unconditional stay removes both the clock and the conditions.
Note that employment is not what changes here. Entrants are already allowed to take up employment, hold office, work self-employed, and join or establish a business in Hong Kong. What changes is the time limit and the fate of the committed portfolio.
When do you become eligible, and what has to be verified first?
Two things must be true at the same time:
- InvestHK has verified your continuous compliance with the Portfolio Maintenance Requirements over the seven years.
- You have been approved permission to stay under the New CIES for at least seven years.
Once both hold, you may apply at the end of the seventh year. The FAQ frames its own example as an entrant admitted for residence under the New CIES for over seven years.
InvestHK is the office responsible for verifying compliance with the Portfolio Maintenance Requirements, as it was earlier responsible for verifying your net assets and your committed investment. The substance of those maintenance requirements, and the definition of permissible investment assets, sit in the Rules for the New Capital Investment Entrant Scheme.
How do you apply, step by step?
Approach InvestHK to verify your continuous compliance with the Portfolio Maintenance Requirements for the seven years.
Wait for InvestHK's verification, which produces a Certifying Proof for Fulfillment of Portfolio Maintenance Requirements.
InvestHK also informs ImmD of the verification result directly.
File your unconditional stay application with ImmD within the validity period of the certifying proof.
File a separate application for each dependant within the same period.
Expect ImmD to assess the applications from immigration perspectives.
What must be true about your status on the day you apply?
You must hold valid residence status under the New CIES on the date of application. Asked whether an application can be made when the limit of stay has expired, the Immigration Department's answer is no.
That makes the ordinary extension cycle the place to be careful. The procedure runs like this: you approach InvestHK not earlier than three months before your limit of stay expires, for verification of your continuous compliance with the Portfolio Maintenance Requirements; you and any dependants then apply to ImmD for an extension before that limit expires, even if the certifying proof has not yet arrived. ImmD decides depending on whether the proof is subsequently submitted, and grants an extension of not more than three years when it is satisfied you still meet the eligibility criteria. You must be physically present in Hong Kong when applying, and again when paying for and collecting the "e-Visa".
Consider a hypothetical entrant whose latest extension expires two months before the end of the seventh year of approved stay. The extension has to be secured first: once the limit of stay lapses, the FAQ describes no route to file an unconditional stay application.
How do the two routes compare?
| Verification of eligibility for a permanent identity card | Unconditional stay under the New CIES | |
|---|---|---|
| What it is claimed under | The Immigration Ordinance (Cap. 115) | The New Scheme Rules and the seven-year point of approved permission to stay |
| Threshold | Having ordinarily resided in Hong Kong for a continuous period of not less than seven years, plus the Ordinance's other relevant provisions | Continuous Portfolio Maintenance Requirements compliance verified by InvestHK, plus at least seven years of approved permission to stay under the New CIES |
| Who verifies or decides | ImmD, on a separate application made under established procedures | InvestHK verifies the seven-year record; ImmD assesses the application from immigration perspectives |
| Status if approved | Right of abode as a Hong Kong permanent resident | Entry and stay in Hong Kong without any conditions or limit of stay |
| Effect on the portfolio | Free to dispose of permissible investment assets, subject to the terms and conditions of the underlying investments | Free to dispose of permissible investment assets, subject to the terms and conditions of the underlying investments |
What happens to your investments afterwards?
Both outcomes end the scheme's restraint in the same words. An entrant who becomes a Hong Kong permanent resident will be free to dispose of the permissible investment assets under the New CIES, subject to the terms and conditions of the underlying investments, and an entrant who obtains unconditional stay will be free to do the same.
The distinction worth keeping in mind is between the scheme and the products. The scheme stops requiring you to hold the portfolio; any redemption dates, lock-up periods or notice periods written into the investments themselves are untouched by that change.
This article summarises published requirements for general reference and is not advice on any individual case, nor a substitute for professional advice on your own circumstances. No outcome is guaranteed — both offices must be satisfied — and since requirements can change, rely on the Immigration Department's and InvestHK's current publications when you are ready to file.
Frequently Asked Questions
Does seven years under the New CIES automatically make me a Hong Kong permanent resident?
No. The Immigration Department states that seven years of continuous compliance with the financial requirements and approved extensions does not imply or acknowledge that you have met the ordinary residence requirement or the other requirements under the Immigration Ordinance for the right of abode. Permanent resident status has to be claimed through a separate application for verification of eligibility for a permanent identity card.
Can I apply for unconditional stay if I do not qualify for permanent residence?
Yes. An entrant who cannot meet the continuous ordinary residence requirement may apply for, and if approved obtain, unconditional stay after the end of the seventh year of approved extension of stay under the New Scheme Rules. Unconditional stay permits entry to and stay in Hong Kong without any conditions or limit of stay.
When exactly does eligibility begin?
Eligibility begins once InvestHK has verified your continuous compliance with the Portfolio Maintenance Requirements and you have been approved permission to stay under the New CIES for at least seven years. The Immigration Department says you may apply at the end of the seventh year.
Can I apply after my limit of stay has already expired?
No. You must have a valid residence status under the New CIES on the date of application. Keeping extensions current — including the step of approaching InvestHK not earlier than three months before expiry — is what protects your ability to file.
Do my dependants need to apply as well?
Yes. You and any dependants must submit unconditional stay applications within the validity period of the same Certifying Proof for Fulfillment of Portfolio Maintenance Requirements. ImmD then assesses those applications from immigration perspectives.
Who decides whether my investments are released?
InvestHK decides whether your seven-year compliance record supports the certifying proof, and ImmD decides the application itself. Neither step outcomes are promised in advance; approval is what allows you to dispose of the permissible investment assets, subject to the terms and conditions of the underlying investments.
Does unconditional stay stop me from working in Hong Kong?
No — entrants may already take up employment, be an office-holder, work self-employed, or join or establish a business in Hong Kong. Unconditional stay changes the limit of stay and removes the conditions attached to it, rather than adding employment rights.