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People's Daily Online>>World

Expert warns of investment immigration pitfalls

(China Youth Daily)

16:10, November 28, 2011

Edited and Translated by People's Daily Online

A total of nearly 3,000 Chinese citizens applied for and more than 900 received the EB-5 immigrant visa for permanent resident status in the United States this year, according to the latest data recently released by the U.S. Citizenship and Immigration Services. Chinese citizens have accounted for 75 percent of all foreign nationals who applied for investment-based immigration to the United States this year.

According to a survey recently conducted among more than 13,000 Chinese citizens on and by the Social Investigation Center of China Youth Daily, 57.1 percent of the respondents believe that the current "investment-based immigrant fever" is because the capital-poor United States intends to cheat Chinese out of "stupid money." Only 19.4 percent of respondents do not agree with this.

"Investment immigration is a program the United States designs specifically for the wealthy Chinese." said Xiao Lian, a researcher with U.S. Economy Research Center under Chinese Academy of Social Sciences, during an interview recently. He pointed out that immigration through investment might be a "trap".

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PD User at 2011-11-29175.141.167.*
Let this be eye-opener for the wealthy Chinese business-men who still want to migrate especially to USA!
PD User at 2011-11-28120.19.169.*
It"s a responsible and timely article to talk about the traps of investment immigration. A lot of wealthy Chinese people ended up coming back to China to do the business again after they literally burnt significant part of their wealth abroad because of personal leisure, purchase of property at wrong locations and the loss of investment and business venture. Also the workforce in the western countries are far more demanding and many Chinese business people are not ready in their own capability and tend to underestimate the challenge of leading a western workforce. While everyone has his own right to decide how to spend his money, the government must ensure that no illegal proceeds are to be taken out of the country in this rush for investment immigration.

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