Hong Kong New CIES 2026: Unconditional Stay After Seven Years Without PR

According to the Immigration Department's New Capital Investment Entrant Scheme FAQ page (as of October 2026, the page carries a date of 2 March 2026), an entrant who reaches the end of seven years of approved stay under the scheme but cannot become a Hong Kong permanent resident may apply for unconditional stay — and once it is granted, he or she is free to dispose of the permissible investment assets held under the scheme, subject to the terms and conditions of the underlying investments. The application is not automatic: it runs through Invest Hong Kong (InvestHK) first, then the Immigration Department (ImmD).

What does unconditional stay actually give you?

Unconditional stay permits entry and stay in Hong Kong without being subject to any conditions or limit of stay. In practice, that removes the renewal cycle — the repeated extensions, the certifying proofs and the fixed expiry dates — that define life under the scheme before year seven.

It is not the same thing as the right of abode. Permanent resident status under the Immigration Ordinance (Cap. 115) is a separate status, verified through a separate application for verification of eligibility for a permanent identity card. Nothing in the FAQ describes unconditional stay as a substitute for it.

Why seven years of investment does not by itself make you a permanent resident

This is the point most entrants misread. The Immigration Department states plainly that continuously satisfying the scheme's financial requirements — and being granted extensions of stay under the New Scheme Rules — for not less than seven years does not constitute any implication or acknowledgement that the ordinary residence requirement for the right of abode has been met.

The FAQ goes further: an entrant may fail the continuous ordinary residence requirement in Hong Kong even after maintaining the investment portfolio for seven years. Meeting the scheme's Portfolio Maintenance Requirements and being "ordinarily resident" are two different tests, run by reference to different rules.

If you do meet the ordinary residence test, the route is the established one — apply to ImmD for verification of eligibility for a permanent identity card. If you do not, unconditional stay is the route the scheme offers instead.

Route	What triggers it	What must be shown	Investments afterwards
Permanent resident status	Application for verification of eligibility for permanent identity card under the Immigration Ordinance	Ordinary residence in Hong Kong for a continuous period of not less than seven years, plus other provisions of the Ordinance	Free to dispose of permissible investment assets, subject to the terms of the underlying investments
Unconditional stay	End of the seventh year of approved stay under New CIES	InvestHK's verification of continuous compliance with the Portfolio Maintenance Requirements for seven years; valid residence status on the application date	Free to dispose of permissible investment assets, subject to the terms of the underlying investments

When are you eligible to apply for unconditional stay?

Two things must line up at the end of the seventh year.

First, InvestHK must have verified your continuous compliance with the Portfolio Maintenance Requirements for seven years. Second, you must have been approved permission to stay under New CIES for at least seven years.

Both conditions matter. Holding the portfolio for seven years while your permission to stay lapses, or holding residence status that was not granted under the scheme, does not produce eligibility.

Can you apply after your limit of stay has expired?

No. The Immigration Department's answer is explicit: you must have a valid residence status under New CIES on the date of application. An expired limit of stay cannot be cured by an unconditional stay application.

This is the practical trap for entrants who spend long periods outside Hong Kong. If your ordinary residence is weak enough to put permanent residency out of reach, it may also put your renewal record at risk — and renewal is what keeps the unconditional stay option alive.

What are the steps to apply?

Reach the end of the seventh year of approved permission to stay under New CIES.
Approach InvestHK to verify your continuous compliance with the Portfolio Maintenance Requirements for seven years.
Obtain the Certifying Proof for Fulfillment of Portfolio Maintenance Requirements from InvestHK. InvestHK also informs ImmD of the result.
Submit your unconditional stay application to ImmD within the validity period of that certifying proof.
Submit applications for your dependants, if any, in the same window.
Wait for ImmD to assess the applications from immigration perspectives.

Approval is discretionary. The FAQ describes the outcome as unconditional stay "if approved", and ImmD's assessment is made from immigration perspectives.

Can you sell the investments once you have unconditional stay?

Yes. After obtaining unconditional stay, an entrant is free to dispose of the permissible investment assets held under New CIES, subject to the terms and conditions of the underlying investments.

The same position applies to an entrant who becomes a permanent resident: disposal is permitted, again subject to the terms of the underlying investments. The scheme's restriction ends with the residence question, not with a lock-up calendar. What remains binding is the commercial reality of what you hold — redemption notice periods, lock-ups in a fund's own documents, or market conditions are outside the immigration rules.

Note what the FAQ does not say. It does not set out a disposal timetable, a minimum holding period after the grant, or any tax consequence of selling. Assume none of those are covered by the scheme page and check them against the investment documents and the latest official publications.

How do you get from entry to year seven?

The residence chain runs on extensions. On formal approval, permission of stay is normally granted for not more than 24 months on time limitation only, conditional on continuing to satisfy the scheme's requirements. Extensions are normally granted for not more than three years at a time.

For each extension, you must approach InvestHK not earlier than three months before your limit of stay expires, so that InvestHK can verify continued compliance with the Portfolio Maintenance Requirements and issue a Certifying Proof for Fulfillment of Portfolio Maintenance Requirements. You and your dependants then apply to ImmD for extension before the limit expires — even if the certifying proof has not yet been secured, though ImmD's decision will depend on whether it is subsequently submitted.

You must be physically present in Hong Kong when you apply for an extension of stay, and again when you pay for and collect the e-Visa after approval. For an entrant whose ordinary residence is thin, physical presence at these fixed points is worth planning around.

What about dependants?

Dependants are part of the same process. You and your dependants are required to submit unconditional stay applications within the validity period of the certifying proof. A dependant's length of stay is normally linked to the sponsor's, and later applications are considered only while the dependant still meets the eligibility criteria for residence as a dependant and the sponsor remains a bona fide Hong Kong resident living in Hong Kong.

Dependants permitted to reside under the scheme are allowed to take up employment or study in Hong Kong under prevailing policy, and entrants themselves may take up employment, hold office, be self-employed, or join or establish a business.

Does unconditional stay change re-entry?

Non-permanent residents admitted under New CIES, and their dependants, do not require a re-entry visa or entry permit, provided they return within the currency of their permitted limit of stay and the circumstances on which they acquired residential status remain unchanged.

This article is general information about how the published scheme rules work; it is not advice on your own circumstances, and you should confirm the current position against the official pages or take professional advice before acting on it.

Frequently Asked Questions

Do I automatically become a Hong Kong permanent resident after seven years under New CIES?

No. The Immigration Department states that even continuously satisfying the financial requirements and holding extensions of stay for not less than seven years does not imply that the ordinary residence requirement under the Immigration Ordinance has been met. A person claiming to be a Hong Kong permanent resident under the Immigration Ordinance may submit, in accordance with established procedures, an application for verification of eligibility for a permanent identity card to ImmD if he/she meets the requirement of having ordinarily resided in Hong Kong for a continuous period of not less than seven years and other relevant provisions of the Immigration Ordinance.

When can I apply for unconditional stay?

You may apply at the end of the seventh year, once InvestHK has verified your continuous compliance with the Portfolio Maintenance Requirements for seven years and you have been approved permission to stay under New CIES for at least seven years. Both conditions are required.

Can I apply if my limit of stay has already expired?

No. You must hold a valid residence status under New CIES on the date you apply. The Immigration Department's answer on this point is unconditional.

Can I sell my investments after getting unconditional stay?

Yes. Once unconditional stay is granted, you are free to dispose of the permissible investment assets held under the scheme, subject to the terms and conditions of the underlying investments. The same freedom applies if you become a permanent resident.

Who verifies the seven-year record before I apply to ImmD?

Invest Hong Kong does. InvestHK verifies continuous compliance with the Portfolio Maintenance Requirements for seven years and issues a Certifying Proof for Fulfillment of Portfolio Maintenance Requirements, and it also informs ImmD of the result. ImmD then assesses the application from immigration perspectives.

Do my dependants get unconditional stay as well?

They must apply for it. You and your dependants are required to submit unconditional stay applications within the validity period of the certifying proof issued by InvestHK, and ImmD assesses each application.

Does the scheme allow me to work in Hong Kong while I hold New CIES residence?

Yes. An entrant is allowed to take up employment, be an office-holder, be self-employed, or join in or establish a business in Hong Kong. The eligibility criteria separately require that you can support and accommodate yourself and your dependants on your own without relying on any return on the permissible investment assets, employment, self-employment, office, business or public assistance in Hong Kong.