According to statistics from immigration agencies, immigrants seek high-quality education, generous welfare, low tax rates, a healthy environment, sound legal systems, safe food, and the convenience of visa-free travel to multiple countries, among which 60% of applicants prioritize their children's education.
The New Wealth Class Targets the United States
A report titled "Global Politics and Security" published by the Chinese Academy of Social Sciences in 2010 indicates that China is becoming one of the largest countries for emigration. The "third wave of immigration" has intensified in the first decade of this century. Unlike the arduous paths taken by previous immigrants, this new wave is primarily composed of China's new wealthy class and intellectual elites, with the United States being their preferred destination.
According to data released by the U.S. Department of State, in the fiscal year 2009, the number of EB-5 visas, which grant U.S. permanent residency (i.e., "green cards") through an investment of at least $500,000 (approximately 3.4 million RMB) in the United States, increased threefold compared to the previous fiscal year, rising from 1,443 to 4,218. Among these, the number of investment immigrants from China grew the most rapidly, reaching 1,979, far exceeding the 903 from South Korea, which ranked second.
Immigration experts predict that the total number of EB-5 visas approved in the U.S. for the fiscal year 2010 will also see significant growth, with Chinese applicants potentially accounting for around 70% of the total. It is no wonder that immigration experts forecast that 2010 will be the "Year of American Investment Immigration" for China.
The Immigration Bureau Eases Conditions
Since the early 1990s, in response to competition from countries like Canada and Australia in the immigration sector, the United States has established a more flexible investment immigration policy.
In 1990, the U.S. Congress passed the "Investment Immigration Program Act," which stipulates that foreigners investing in the United States are entitled to permanent residency. Under this program, foreign immigrant applicants can invest $1 million to establish a commercial enterprise that benefits the U.S. economy; or if the investment amount in designated areas is $500,000 and creates 10 full-time jobs for U.S. workers, they can be issued a two-year "conditional" immigrant visa. Ninety days before the two-year period expires, they can apply to become permanent residents.
To attract investment immigrants, the U.S. Immigration Bureau has relaxed many conditions since 1996, such as the methods of investment and the calculation of employed workers. Investors are not required to operate the business themselves, as there are "Regional Centers" in the U.S. for unified investment.
Investment Immigration is Simple and Convenient
In recent years, the United States has become the preferred destination for Chinese investment immigrants due to low investment costs, high success rates, and quick approvals.
Compared to other immigration pathways, U.S. investment immigration is relatively a shortcut.
Of course, a core reason for the rise of this wave of immigration from China is that the Chinese economy is leading the global recovery, increasing the wealth in the hands of Chinese people; while the appreciation of the Renminbi has lowered the costs of investing in the United States.
Most Immigrants Move for Their Children
Chinese people have always placed great importance on education, and the comprehensive education level in the United States is world-leading, with about 50 of the world's top 100 universities located in the U.S. According to statistics from immigration agencies, immigrants seek high-quality education, generous welfare, low tax rates, a healthy environment, sound legal systems, safe food, and the convenience of visa-free travel to multiple countries, among which 60% of applicants prioritize their children's education.
Additionally, some Chinese immigration lawyers in the U.S. have indicated that high housing prices in China have created conditions for investment immigration, with some even suggesting that "Beijingers living within the second ring road all possess the financial means to invest in immigration to the United States"; some investment immigrants are also seeking avenues for their funds.
