Hong Kong offers residency to people who invest $3.8 million

Hong Kong plans to launch a program next year that will grant residency to people who invest $3.8 million in the city, aiming to revive its status as a financial hub and boost revenues.

The move is expected to bring in $15.3 billion, according to Treasury and Financial Services Minister Christopher Hoey, who estimated that 4,000 people could gain residency each year.