Suspension of Hong Kong’s CIES closes the tap on one mainland client pipeline

15 January 2015 | 3 minutes read

In a move that surprised most onlookers, Hong Kong’s chief executive, CY Leung announced a decision to suspend the Capital Investment Entrant Scheme (CIES), which will close doors to a channel that sources Chinese clients and assets for the local private banking industry. The CIES, designed to attract immigrants to invest and gain citizenship in Hong Kong, requires a US$10…

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