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Chinese magnates invest in San Francisco Poor Neighborhood for Green Cards [Copy link] 中文

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Post time 2014-8-25 19:00:40 |Display all floors
Through one of the U.S. immigrant-investor programs, named EB-5, foreigners are allowed to obtain residency permits for themselves and their immediate family memebers in exchange for an investment of at least one-million U.S. dollars. For high unemployment areas, the threshold is set at a minimum of 500,000 U.S. dollars.

Take the area's Shipyards Project as an example; the reconstruction project, funded by hundreds of wealthy Chinese investors, aims at bringing more than 12,000 housing units, hundreds of acres of parks, 800,000 square feet [put in square-kilometres] of retail and 3.1 million square feet [put in square-kilometres] for office and commercial research and development in the impoverished city corner.

The money flowing into the project is part of a recent infusion of Chinese capital breathing life into long-dormant development projects in Northern California's San Francisco Bay Area.

However, there are concerns that foreign investors will signal the beginning of a new wave of gentrification, pricing local residents out of the area.

A growing number of wealthy Chinese have now played a dominant role in overseas investment immigration. Based on statistics from the U.S. Citizenship and Immigration Services (USCIS), the Chinese population has accounted for about 75 percent of all investment immigration visas issued by the U.S. in 2013.

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Post time 2014-8-25 19:13:00 |Display all floors
This post was edited by moonshooter at 2014-8-25 19:13

This reflects a trend:An increasing number of Chinese wealthy are finding opportunities to immigrant,despite the fact that China's ecomy is booming.If they stay in china,they could also gain substantial profits.Why they stop continuing their career in china?

Accoring to a survey,among the chinese magnates whose property have reached more than 10 million Yuan,about 80% are planning to immigrant or have already been an immigrant.Does this phenomenon also exists in other countries?

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