HSBC, StanChart, DBS tap Golden Week visitors drawn to Hong Kong’s cash-for-residency scheme
- HSBC, Standard Chartered and DBS Hong Kong offer programmes for visitors who are interested in the newly-launched cash-for-residency scheme
- Certain branches of the city’s banks will remain open on all days of the holiday period as over 800,000 mainland visitors are expected to arrive in Hong Kong
International school visits, property outlook seminars, lucky draws and wine tastings are just some of the freebies that major Hong Kong banks have in store for mainland Chinese customers visiting the city during the Labour Day “golden week” holiday.
The holiday, which runs between May 1 and May 5, is expected to draw more than 800,000 mainland Chinese tourists to Hong Kong, according to Hong Kong’s Chief Executive John Lee Ka-chiu.
Capitalising on the surge, certain branches of HSBC, Standard Chartered, DBS, Hang Seng Bank, OCBC, Citi, ICBC (Asia) and China Citic Bank International (CNCBI) will remain open on all days of the holiday period to facilitate services including new bank account opening and sales of wealth-management and insurance products.
HSBC, the biggest lender in the city, offers programmes for visitors who are interested in the city’s Capital Investment Entrant Scheme (CIES). Launched in March, the scheme allows wealthy individuals and their families to gain fast track residency when they make investments of at least HK$30 million (US$3.8 million) through banks or brokers to buy stocks, bonds, deposits, funds, investment-linked insurance policies or non-residential properties.
“Customers are particularly interested in residency or investment opportunities in the city,” said Winnie Ng, head of distribution sales management, wealth and personal banking at the Hong Kong office of HSBC.