Wealthy Chinese are coming to the U.S.

The May 19, 2018 Economist reports on the high interest of wealthy Chinese in the United States. It says that the United States has an annual quota of 10,000 visas for EB-5 investors (which provide green cards for those investing $500,000 or more).  In November 2017, the number of applicants on the waiting list stood at more than 30,000, nearly 90% of whom from China. Canada had a similar scheme but scrapped it in 2014 after it become known that it was heavily oversubscribed by wealthy Chinese.  In 2017 more than 46% of Chinese with fortunes between $1.3 million and $26.3 million (10M – 200M yuan) were thinking of emigrating. More than 3/4 of survey respondents mentioned that their children’s education as a reason. Nearly one in  six pointed to the political environment in China and almost one and five said they were hoping to protect their assets.

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