The government's investment promotion arm, InvestHK, on Tuesday said it has received a "double-digit" number of applications for the New Capital Investment Entrant Scheme (CIES) since its launch on March 1.

There were more than 1,600 enquiries about the scheme, which reflected “strong confidence from high-net-worth individuals in Hong Kong,” InvestHK said.

It said the applications were from individuals of different nationalities, and 70 percent of the enquiries were from professional service providers, mainly about the application procedures, eligibility criteria, and eligible investment assets.

InvestHK's director-general of investment promotion Alpha Lau said she was delighted with the feedback so far.

“It shows strong confidence among high-net-worth individuals in the stable business environment and the diverse investment opportunities Hong Kong has to offer,” she said.

Lau added that the government will keep rolling out measures to further enhance the city’s competitiveness as an asset and wealth management hub.

CIES is open to people who invest a minimum of HK$30 million in the stock market or other eligible assets, excluding residential real estate. A minimum HK$3 million of the total investment must be used to support innovation and technology industries.

Successful applicants get the right to live in Hong Kong and can bring dependents with them.