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ILW.COM EB-5 Blog

Wealthy Chinese Flocking to US

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A 2011 report by a monthly
Chinese magazine, the Hurun Report, revealed a piece of information that was
seen by many Chinese citizens and those interested in the success of the
Chinese economy as unpleasant news:  almost
half of all Chinese millionaires, defined as individuals with a net worth of almost
$2 million, were contemplating leaving China. 
To make matters even worse, it was the richest individuals at the top of
the list who were determined to be the most likely to actually leave
China.  The report indicated that the
Chinese millionaires were interested in leaving China to find better
educational prospects for their young children, and also due to concerns about
food safety and pollution in their country.


Despite
the fact that China in 2010 was determined to be the country with the most
billionaires in the entire world, quality of life concerns as well as concerns
over corruption and fear of the Chinese government still pose a threat to all
of that wealth jumping ship and re-seeding itself in other countries.  One country which has already seen the
benefits of this trend is the United States, a highly popular destination for
the wealthiest Chinese citizens. 


While
many prospective immigrants to the US are faced with the difficult task of
finding a visa program that will allow them entry and permanent residence in
the United States, things aren't so hard for millionaires and
billionaires.  These wealthy individuals
are able to take advantage of a special investor visa program that the United
States offers, the EB-5 program.  The
EB-5 program was enacted in 1990 by Congress in an effort to improve the
American economy, generate job development and boost capital investment by deep
pocketed foreign investors.  The program offers
US green cards to overseas investors, permitting them to become permanent US
residents, in return for a large investment in a venture located in the US.  The investor must fund either $1 Million to a
project stationed in any desired area within the US, or $500,000 within a high
unemployment area or rural area.  Additionally,
the capital fund must create a minimum of ten full-time, permanent jobs for American
workers within 24 months.


The flood of
EB-5 money coming into the US in many cases is managed at EB-5 regional centers,
centers approved by the government that act as hubs where EB-5 investors can lump
their funds together to finance their desired venture.  An EB-5
regional center
can help the entrepreneur with applications and serve as managers
of the ventures and create reports to the government to confirm that the guidelines
of the program are followed. 


While the exodus
of wealthy Chinese citizens to the US is threatening to undermine some of the
economic advancement that China has experienced of late, on the US end, things
couldn't be better.  With the surging
popularity of the EB-5 program and EB-5 regional centers, developers are seeing
their projects get funding, jobs are being created and Chinese immigrants are
gaining permanent entry into a country where they can focus their valuable time
on more important issues than worrying about pollution and government
corruption.

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