Thursday, October 14, 2010

Correction regarding the capital Investment Entrant Scheme

Sorry for overseeing this: In the today policy address the so-called "Capital Investment Entrant Scheme" was changed (at least temporarily) with effect from tomorrow - means mainland buyers with foreign passport cannot buy anymore property under this scheme - here the full text from the policy address:
quote
Review of the Capital Investment Entrant Scheme
34. The Government has reviewed the Capital Investment Entrant Scheme, and noted an upward trend in real estate investment, which accounted for 42% of the total investment under the scheme for the first nine months of this year. Despite the fact that real estate investments under the scheme in recent years have only represented about 1% of the total market turnover, the Government, in view of public concern, has decided to temporarily remove real estate from the investment asset classes under the scheme with effect from 14 October. The Security Bureau will announce the implementation details and other changes to the scheme later.
unquote

THIS IS GOOD NEWS - AT LEAST SOME MEASURE TO COOL DOWN A LITTLE BIT.
Implementation details once available will be issued here - this issue is also some kind of "Visa issue" because under this scheme you will get a HK ID card automatically.

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