The post Hong Kong Allows Bitcoin and Ether as Proof of Wealth for Investment Visa appeared first on Coinpedia Fintech News
Hong Kong has officially confirmed that Bitcoin (BTC) and Ether (ETH) can be used as proof of assets for its New Capital Investment Entrant Scheme visa. This visa is aimed at wealthy migrants looking to invest in Hong Kong, with a requirement to show net assets worth at least HK$30 million ($3.8 million). While the crypto can be used to prove wealth, a chartered accountant must sign off on the valuation. However, once the visa is granted, applicants must invest another HK$30 million into “permissible assets” and cryptocurrency is not allowed for this investment. Hong Kong currently hosts 9 licensed crypto exchanges.