Sun Hung Kai Financial and EK Immigration join forces

Partnership to provide premium financial services to capital investment entrants from mainland China.

Sun Hung Kai Financial (“SHKF” or the “Group”), Hong Kong’s leading non-bank financial institution, and the world renowned immigration consultancy EK Immigration Consulting Limited (“EK Immigration”) on Wednesday announced that they have formed a strategic partnership to offer premium financial services customised for capital investment entrants from mainland China. Following the government’s revision of the Capital Investment Entrant Scheme (“CIES”), this is the first alliance formed by a financial institution and an immigration consultancy aimed at tapping into the market of capital investment entrants with enormous potential.

In October 2010, the government made several amendments to the CIES, including raising the net equity requirement to HK$10 million and suspending real estate temporarily as an investment asset. These changes open up enormous opportunities for Hong Kong’s financial services and wealth management industry. Under the partnership, EK Immigration will refer its customers who apply for the CIES to SHKF. Leveraging its financial expertise, SHKF will help these customers invest in Permissible Investment Asset Classes, including equities, debt securities and certificates of deposits and assist them in their application for residence in Hong Kong. SHKF will also refer its customers to EK Immigration. 

To reward customers referred by EK Immigration, SHKF will waive the annual administration fee for accounts registered under CIES (HK$25,000 per year). EK Immigration will also waive its visa renewal service fee for seven years for customers introduced to EK Immigration by SHKF, enabling the alliance’s customers to enjoy unrivalled benefits.

Mr. Lee Seng Huang, Executive Chairman, Sun Hung Kai Financial, said, “Over the last four decades, SHKF has demonstrated the Hong Kong’s Wealth of Spirit by seizing opportunities in various business areas and driving entrepreneurial initiatives. This strategic alliance with an immigration consultancy builds on our strong foundation as a leader in the industry by broadening our customer base. More importantly, by combining SHKF’s wide array of financial product offerings and services with EK Immigration’s leading position in the capital investment entrants market, the partnership will provide our common customers with a unique, one-stop resource of professional support and premium financial services.”

Dr. Eddie Kwan, Chairman, EK Immigration Consulting Limited, said, “We are delighted to partner with SHKF, Hong Kong’s leading non-bank financial institution. According to the China Private Wealth Report 2010 released by Forbes China, Guangdong is home to the largest number of super rich in China. Due to its geographic proximity and favourable investment environment, Hong Kong is the preferred investment base of these Chinese billionaires. Further growth is projected in the capital investment entrants market from China. By leveraging SHKF’s extensive portfolio of products and wealth management services, this collaboration will offer our customers a full range of financial investment options and excellent after sales services backed by unparalleled expertise and experience.”

According to information from the Immigration Department of the HKSAR Government, a total of 8,924 applications have been granted formal approval as of 31 December 2010 since the inauguration of CIES in October 2003. The total amount of investment was HK$63.3 billion, of which HK$41.8 billion was invested in specified financial assets, according to an SHKF report.

SHKF has built a strong presence and capability in the wealth management and brokerage business with its one-stop investment platform. The Group offers more than 2,000 different funds in partnership with over 60 world-class providers. Other products such as unit-linked products and structured products are also available. Through the new partnership, the Group’s professional financial advisors will provide personalised financial solutions to best suit the needs of customers from mainland China and to help them to achieve their investment goals.

Over the past 20 years, EK Immigration Consulting Limited has grown into a world renowned immigration consultancy with its global network of offices, efficient and experienced service team of experts as well as its well-established brand service chains. The company has helped thousands of people to realise their dreams of residing and studying abroad. This strategic alliance with SHKF will enhance EK Immigration’s competitive advantages in the CIES niche for further success and growth.