Is it better to have more personal assets when applying for the Hong Kong Quality Migrant Admission Scheme? NO! What seems like a simple asset proof actually hides secrets!

The materials required for the Quality Migrant Admission application involve many aspects, and personal asset proof is an essential part of the application documents. What seems like a simple asset proof actually hides secrets. If the preparation is insufficient, it is easy to be asked by the Immigration Department to provide additional documents or to be rejected! Today, I will discuss in detail the personal asset proof for the Quality Migrant Admission application.

How much assets does a Quality Migrant applicant need? Is more always better?

I have encountered many DIY applicants who want to list all their assets. However, in fact, the asset proof for the Quality Migrant Admission application does not necessarily mean that more is better. If the assets are too many, the Immigration Department may suspect the source of your assets, which is counterproductive.

So how much assets are appropriate? According to the price level in Hong Kong, the net personal assets of a general applicant should be able to support the applicant and their family for one year of living and accommodation in Hong Kong.

For example

If it is a single person, generally 200,000 to 300,000 HKD is sufficient. If a family of three is applying for the Quality Migrant Admission to Hong Kong, a net asset of about 500,000 HKD is about right. Of course, it can be a bit higher, 700,000 to 800,000 is also acceptable, but it doesn't need to be too high. It is important to note: when filling in the total assets, it should be converted to HKD based on the exchange rate on the day of filling out the form. How to issue asset proof?

Generally accepted asset proofs by the Immigration Department include deposits, securities, real estate, company shares, etc. For deposits, you can simply obtain a deposit certificate from the bank. Note that there is no need for freezing, and it must be an original deposit certificate with a stamp/signature, not an electronic version!

Can joint property of a couple after marriage be issued as a deposit certificate in the name of the dependent?

If it is joint property of a couple in the name of the dependent, the Immigration Department usually asks for and states that the asset proof must be in the applicant's personal name during the document submission. Therefore, it is recommended to directly issue the deposit certificate in the applicant's name.

Is there a time requirement for issuing the deposit?

Generally, the required deposit proof should be within 2 months before submitting the application. If providing stocks, funds, securities, etc. as asset proof documents, to ensure timeliness and authenticity, it is recommended to issue the asset proof as the last step after all application materials are prepared.

Although issuing asset proof is very simple and can be done at the bank, it is also crucial in the Quality Migrant Admission application, so friends applying for the Quality Migrant Admission must take it seriously!