Hong Kong government recognizes Bitcoin and Ethereum as proof of assets for investment immigration applications

Source Cryptopolitan

The Hong Kong government has approved the use of BTC and Ethereum for immigration applications. Travelers can use these coins as proof of assets required by authorities.

The move comes after two successful cases where applicants from mainland China used crypto holdings in their residency applications

According to reports, Hong Kong-based accountant Xiao Yaohe revealed that on February 7, a client successfully applied for investment immigration using HK$30M worth of ETH as proof of assets. 

In another case, one applicant was approved after presenting Bitcoin holdings as their financial proof. These cases mark the first instances of crypto being accepted by the Hong Kong Investment Promotion Agency for such applications.

HK is becoming a more pro-crypto economy

According to the jurisdiction’s legislature, Hong Kong’s investment immigration program requires applicants to demonstrate at least HK$30 million (approximately $3.85 million) in assets. Once approved, they must invest this amount within six months, traditionally in stocks or other regulated assets. 

Successful applicants initially receive a two-year visa. Then, they have to renew their visa in a 2-2-3 cycle. This ensures that their investment remains intact before gaining permanent residency.

While Hong Kong’s move is a first for its investment immigration program, Singapore has long accepted cryptocurrency as an asset certificate for similar applications. However, applicants in Singapore are asked to prove the initial source of funds used to acquire their crypto holdings.

Yaohe noted that when the first Hong Kong application involving cryptocurrency was submitted, the Investment Promotion Agency deliberated internally for a month before granting approval. 

Currently, two additional applicants are awaiting approval based on their crypto assets. To meet Hong Kong’s criteria, these assets must be stored on major exchanges or in cold wallets.

Retail crypto activity surges in APAC, surpasses US and Europe

In other developments, a February 6 report from Gemini, in collaboration with Glassnode, found that retail Bitcoin transactions in APAC have been growing faster than in other regions. They exclude exchange-traded fund (ETF) activity and large institutional flows, where the US leads.

“The highlight of the year for the digital asset ecosystem has been the movement of spot bitcoin ETFs to US capital markets […] however, when we exclude the activity of exchanges and ETF flows (institutional presence) […] we are seeing large retail and individual growth outside of the US,” the report stated.

APAC BTC supply change chart
APAC BTC supply change chart. Source: Gemini 2025 Crypto Trends Report

The study concluded that retail engagement in APAC is expanding at a significantly higher rate after analyzing transaction timestamps and linking BTC activity to working hours across different regions.

As revealed in the research, since Bitcoin’s cycle low in December 2022, the APAC region has experienced a 6.4% year-over-year increase in Bitcoin supply. In contrast, the US saw a 5.7% decline over the same period, while Europe recorded a meager drop of 0.7%.

Saad Ahmed, head of Gemini’s APAC business, noted that clearer regulations in key Asian markets, such as Singapore and South Korea, have encouraged individual investors to participate more actively in crypto markets. 

Cryptopolitan Academy: FREE Web3 Resume Cheat Sheet - Download Now

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
May 08, Thu
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
placeholder
Avalanche Price Forecast: AVAX eyes $30 as FIFA, VanEck back blockchain ecosystemAvalanche (AVAX) is gaining bullish momentum, extending gains on Friday, trading at $25.74 as investor confidence grows on the back of two major developments.
Author  FXStreet
May 23, Fri
Avalanche (AVAX) is gaining bullish momentum, extending gains on Friday, trading at $25.74 as investor confidence grows on the back of two major developments.
placeholder
Gold edges higher after Trump’s bill boosts bond market uncertaintyGold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal.
Author  FXStreet
May 23, Fri
Gold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal.
goTop
quote