A record wave of Chinese millionaires are flocking to the US in hopes creating their own American Dream.
The deep-pocketed entrepreneurs are buying their way into the US — for themselves and their families — and in turn escaping the hard economic environment at home by investing in US “anchor” businesses and promising to create 10 US jobs.
In return, the wealthy Chinese get an EB-5 visa, which allows them and their familes to move to the US.
Last year, mainland China-born investors constituted 9,128, or 85.4 percent, of the 10,692 EB-5 visas handed out by Washington, up 32 percent from the 6,900 EB-5 visas handed to China investors in 2013.
“There is more demand for the green-card application process and more capital flows out of China to the US in this current environment,” John O’Shea, chairman and chief executive of Global Alliance Securities, a New York-based broker dealer specializing in matching investors from China with local companies seeking capital under the US government’s EB-5 program.
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