Short answer: CIES investments can be held by a company in two ways. Since March 2025, through a Hong Kong private company wholly owned by the applicant, which must meet the conditions for the six months before applying. Since March 2026, also through a Family-owned Investment Holding Vehicle (FIHV) managed by the family’s eligible single family office, with no minimum period of establishment.
The two arrangements compared
| Since March 2025: wholly owned company | Since March 2026: family investment holding vehicle | |
|---|---|---|
| Company | Incorporated or registered in Hong Kong, wholly owned by the applicant | An FIHV, or a family-owned special purpose entity under one |
| Use | Holds only permissible investment assets | Used only to transact permissible investment assets |
| Age | Meets the conditions for six months before applying | No minimum period |
| Other conditions | — | Managed by an eligible single family office (family net assets of at least HKD 240 million); the FIHV has at least two full-time staff and HKD 2 million a year of operating spending in Hong Kong |
What both require
- A total of HKD 30 million, including HKD 3 million in the CIES Investment Portfolio — see CIES permissible assets.
- Net assets of at least HKD 30 million for the six months before applying — see CIES 2026 rules.
- The investment must be maintained throughout, with evidence at each extension.
Why the 2026 arrangement helps
Families with a single family office in Hong Kong can hold CIES investments under an FIHV and move permissible financial assets into the holding company during their stay, aligning with Hong Kong’s tax concession regime for FIHVs. With no minimum period, a newly set-up family office structure can be used straight away.
Which to choose?
- Simple asset structure: personal holding or a wholly owned company is enough.
- An existing or planned single family office: consider the 2026 FIHV arrangement.
GI Capital can help with portfolio and family office structuring. As of October 2026; subject to InvestHK’s latest announcements.