Eight Out of 10 Millionaires Immigrating to US are Chinese

If you’re a foreigner with one million dollars to invest in the U.S. (or five hundred thousand in a high unemployment or rural area), there’s a government program that will grant you U.S. residency. In 2013, 6,895 visas where issued to Chinese, 80% of the total.

In Australia, 9 out of 10 applicants for a similar program are Chinese. And in Canada, of the 59,000 applicants for the same type of program, 45,000 were Chinese.

As the Chinese upper-class has gotten richer, many are looking to emigrate to more comfortable shores. Many wealthy officials are also looking to find safe havens for ill-gotten riches. Whether ill-gotten or not, Chinese are now the top real-estate investors in Manhattan, with San Francisco another major hub of Chinese property investments.

According to Chinese state media, 1 in 3 Chinese millionaires have already left China, with 63% of the total intending to leave. So why are they leaving? Pollution? Corruption? Human rights? Maybe. But knowing the Chinese mentality of fear (which may or may not relate to bloody and unpredictable political movements in China), and the general Asian propensity to save–my expert guess is that it’s just safer to not be in China.

Asians are already the most well-to-do ethnic group in the U.S. investor immigrants from China are giving this figure a boost. (Median weekly earnings of full-time wage and salary workers, by sex, race, and ethnicity, 2009 (Sonicyouth86/Wikipedia.com)

Asians are already the most well-to-do ethnic group in the U.S. investor immigrants from China are giving this figure a boost. (Median weekly earnings of full-time wage and salary workers, by sex, race, and ethnicity, 2009 (Sonicyouth86/Wikipedia.com)

LIKE us on Facebook, or follow us on Twitter.

Subscribe to our weekly email

The Chinese Foot That Launched a Thousand Leg-Guns
Top 10 Countries With Foreign Investment in America, but where's China?