China’s super rich have for years been leaving the country and bringing their families and wealth with them. The number one choice of destination to migrate, normally via high-rolling investment visa schemes, has been the United States.
But since Donald Trump took office in January he has already begun to take a harder stance on immigration, including wealthy Chinese.
While the president has yet to speak on the so called EB-5 – the controversial “golden visa” program that has accepted thousands of wealthy immigrants over the years – the US has begun to look like an unfriendly territory for global business people, said Nuri Katz, head of financial services firm Apex Capital Partners.
It would however be difficult for Trump to criticize the program in too harsh words since he and his buddies, including son-in-law and White House advisor Jared Kushner, have benefited greatly from the scheme. Several Trump-branded construction project have reportedly been funded by wealthy Chinese who have invested cash for visa, including the gleaming Trump Bay Street complex in New Jersey.
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