It’s no secret that China has been a wealth creation machine over the past two decades. Although the country is still creating high net worth individuals (HNWIs), which are people with wealth over US $1 million, over 15,000 Chinese HNWIs still chose to migrate to other countries in 2018 – the most significant migration of any country. These HNWIs are deciding to move to other countries for varying reasons, in some cases because of favorable tax laws, political instability in their home country, business opportunities, safety, education for their children, or in most cases a combination of many reasons.
Top Countries Seeing HNWI Outflows:
HNWIs and Pursing the United States Through EB-5
Unlike the middle class, wealthy citizens have sufficient means to pursue moving themselves, their families, and their wealth to different countries with more favorable opportunities, thus putting their earnings to better value, such as sending their children to a top university. One of the best values for HNWIs pursuing the American Dream is the U.S. EB-5 Immigrant Investor Program.
The Immigrant Investor Program, also known as “EB-5,” was created by the United States Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by immigrant investors.
There are no language skills, business, or special training experience required to invest in the EB-5 program. The only requirements are to make the required capital investment into a new commercial enterprise located within the United States with legally sourced funds and create 10 American jobs
Here’s a look at HNWI inflows around the world:
The EB-5 Visa Program Puts the American Dream within Reach
With the increasing restrictions in United States immigration along with challenging demand for evidences and increased denial rates among visa types, it’s becoming more difficult to obtain U.S. visas, thus disrupting the American Dream of many. This has made the investment-linked visas a popular choice for HNWIs as opposed to other employment-based visa categories such as the H-1B and L1 visa, which only grant temporary work visas tied to a specific employer and field of work. HNWIs with the means to pursue EB-5 do not need an employer to sponsor his/her petition and can enjoy the freedom of living or working anywhere in the United States.
Advantages of EB-5
- Applicants do not have to hold a bachelor’s or higher degree
- Applicants do not have to work in specialty fields
- EB-5 can be a faster path to applying for citizenship
- EB-5 investors and their immediate family members (spouse and dependent children) can live, work, and go to school anywhere in the U.S. They do not have to live by their investment, and they do not have to be involved in the day to day management of their investment if they do not wish to.
- An investor’s spouse and unmarried children under the age of 21 can all qualify for green cards under the EB-5 investor’s application.
- Family members can gift an EB-5 applicant the funds required to invest in the EB-5 Program.
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