HONG KONG -- China's Hong Kong Special Administrative Region (HKSAR) government on Tuesday announced details of enhancement measures for the New Capital Investment Entrant Scheme to invite more investors.

The measures to take effect on March 1 will relax the net asset assessment and calculation requirements, and permit investments made through an eligible private company wholly owned by an applicant.

The HKSAR government also shortened the period of time an applicant is required to possess no less than HK$30 million ($3.86 million) worth of net assets or equity from two years to six months preceding the application.

These measures can create synergy with the tax concession regime for family offices to promote the development of family office businesses in Hong Kong, said Christopher Hui, secretary for Financial Services and the Treasury of the HKSAR government.