More wealthy Chinese set to flood US investor visa scheme: think tank report
Four out of five permits go to rich mainlanders seeking better education, business opportunities
More Chinese are expected to apply for the United States' investor visa this year as people embrace an expanded immigrant quota and promising business opportunities, says a think tank report released yesterday.
Mainland Chinese received 9,128 EB-5 investor immigrant visas last year, 46 per cent more than in 2013. Among the 10,692 investor visas the US issued last year, mainlanders received 85 per cent of them.
The visa, with no age limits or language requirements, grants US citizenship to foreigners willing to invest at least US$500,000 (HK$3.88 million) and create 10 full-time jobs in the US.
"Better education for their children and more diversified investment opportunities are behind the choice of the wealthy Chinese," said the authors of the Annual Report on Chinese International Migration, launched by the Chinese Academy of Social Sciences and the Centre for China and Globalisation (CCG).
"The US, Australia, New Zealand and European countries are attracting wealthy mainland investors, and a visa may ensure them easier access to overseas businesses," CCG director Wang Huiyao said.
Commercial real estate projects in the US were popular investment targets among Chinese investors, supported by a strong yuan and high property prices in major mainland cities, according to the report.