(This article is adapted from an article by Shi Lei on Phoenix New Media)
In 2015, the global immigration industry saw a series of significant and far-reaching news events. Looking back at the global immigration landscape over the past year, there were many developments worthy of our attention. Throughout the year, we have selected the top 10 global immigration events of 2015 to share with investors and industry professionals.
1. Suspension of the Hong Kong Capital Investment Entrant Scheme
The Hong Kong SAR Government announced on January 14, 2015, that the Capital Investment Entrant Scheme would suspend the acceptance of new applications starting January 15, 2015, until further notice. Since the launch of the scheme on October 27, 2003, in response to the economic downturn caused by SARS, the program had attracted over 100 billion HKD in investments by January 14, 2015. The suspension did not affect applications received before January 14. Meanwhile, the Hong Kong SAR Government noted that the Quality Migrant Admission Scheme would continue to be implemented with new optimization measures, marking a major turning point for Hong Kong immigration.
2. The U.S. EB-5 Regional Center Program reform faced twists and turns, ultimately remaining unchanged
The U.S. EB-5 Regional Center Program is a temporary program subject to adjustments every three years. The existing program was scheduled to expire on September 30, 2015. As the deadline approached, both the U.S. Senate and House of Representatives passed a temporary federal budget appropriation bill for the 2016 fiscal year, extending the existing pilot program to December 11, 2015, which was later extended again to December 16. At the last minute on December 16, Congress reached an agreement to unconditionally extend the EB-5 Regional Center Program until September 30, 2016, maintaining the existing provisions without any reforms. Thus, the six months of uncertainty surrounding the reform of the U.S. EB-5 Regional Center Program came to a temporary close, becoming a major focus of the immigration industry in 2015.
3. First visa backlog in the 25-year history of U.S. EB-5 immigration
On April 13, 2015, Charles Oppenheim, Chief of the Visa Control and Reporting Division at the U.S. Department of State, announced that starting May 1, 2015, Chinese EB-5 applicants would face a visa backlog, officially entering the era of EB-5 visa retrogression. The EB-5 visa has an annual quota of 10,000 and is subject to per-country limits based on the applicant's place of birth. This was the first time a backlog had occurred in the 25-year history of the EB-5 Regional Center Program since its inception in 1990, marking another major focus for U.S. investment immigration in 2015.
4. Canada introduced various immigration policies, with Provincial Nominee Programs (PNP) gaining popularity
Following the "one-size-fits-all" termination of the Canadian Federal Immigrant Investor Program in 2014, Canada introduced various policies throughout 2015. Some Provincial Nominee Programs offered more direct, simpler, and faster pathways, which were highly sought after by investors. At the same time, the newly elected Prime Minister from the Liberal Party, who encourages immigration, brought frequent positive news for the sector, ushering in a new wave of interest in Canadian immigration.
5. European property investment immigration heats up with more relaxed policies in multiple countries
In 2015, contrary to the closure or tightening of immigration thresholds in some countries, European property investment immigration programs gained momentum. Countries such as Portugal, Spain, and Greece adjusted their immigration policies, introducing more relaxed investment immigration rules and easing various restrictions. This attracted numerous interested investors, and the wave of European property investment immigration swept across China and beyond.
6. Investing in European estates and agricultural land becomes a new trend in European immigration
Following years of development, a new form of investment immigration emerged in 2015: investing in European estates and agricultural land, which became a new trend for European investment immigration. Cyprus, a Mediterranean EU member state, was the first to launch an innovative investment immigration product: investing in European estates to obtain an EU passport. By investing 2.5 million Euros in Cyprus, one could own a large estate and obtain an EU passport. This approach was adopted by an increasing number of countries. By the end of 2015, Portugal also launched a European agricultural land project. These types of land investments, which are difficult to acquire even with wealth in China, became excellent projects for immigrating to Europe, solving family wealth succession, and enjoying a pastoral lifestyle, receiving immediate popularity among Chinese investors.
7. Commonwealth passport programs arrive in China, offering Chinese investors more choices
Following the initial entry of the St. Kitts and Nevis Citizenship by Investment Program into China, Commonwealth passport programs began to diversify. Commonwealth nations such as Antigua and Barbuda, Dominica, and Vanuatu launched their own passport programs and increased their promotional efforts in the Chinese market, providing Chinese investors with more options. In particular, the investment citizenship program launched by the government of Antigua and Barbuda in partnership with the UAE royal family, which promises a five-year repayment, attracted significant attention from Chinese investors.
8. The first China U.S. Immigration Month was a complete success, opening a new chapter in history for joint U.S.-China celebrations
In June 2015, the first China U.S. Immigration Month was grandly launched, aiming to attract more investors to focus on U.S. investment immigration and promote non-governmental immigration cultural exchanges between China and the U.S. On June 6, 2015, U.S. President Barack Obama delivered a televised speech on U.S. Immigration Month, and the influence of the event spread rapidly. The joint celebration of "U.S. Immigration Month" by Chinese organizations and 100 U.S. cities wrote a new chapter in history and became a major success story for the entire immigration industry.
9. First time in history a foreign minister personally visited China to promote immigration and visit a Chinese immigration company
Since the emergence of the immigration industry in China, this was the first time a sitting foreign minister from another country personally visited China to cooperate with a Chinese immigration company, promote immigration projects to investors, and visit the company. This indicates that investment immigration is receiving increasing attention from destination countries, with some even elevating immigration to the level of national economic strategy, sparking discussions across the international immigration community.
10. First online group-buying event in the 25-year history of the immigration industry
Influenced by the "Internet Plus" trend, a new form of activity emerged in the immigration industry in July 2015: group-buying. An investment immigration group launched the first online group-buying event in the industry's 25-year history. The offer of "one yuan worth ten thousand" and additional discounts instantly caught the eyes of investors and caused a sensation in the industry. The appearance of group-buying in the Chinese immigration industry signaled that internet thinking was penetrating the sector. Since then, the immigration industry has entered the realm of group-buying, providing investors with a new way to participate in activities and becoming a major topic of discussion in the 2015 immigration industry.