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  1. #1
    Senior Member JohnDoe2's Avatar
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    Where the fleeing Chinese millionaires go ...

    Where the fleeing Chinese millionaires go ...
    By Robert FrankFebruary 4, 2014 12:20 PM

    .
    View photKevin Winter | Getty Images

    Give us your tired, your super-rich, your huddled millionaires.

    This is the new clarion call among countries that are lifting their beacons to the mass numbers of wealthy Chinese fleeing their country.
    (Read more: China's millionaires continue to flee the country)

    More than half of all Chinese multimillionaires have either left or plan to emigrate,
    according to surveys. Countries around the world are lining up to attract them, creating a growing business and economy around selling them residency.


    Australia said Tuesday that a new visa program aimed at the wealthy-the "significant investor" initiative-has received overwhelming response, with Chinese nationals accounting for over 90 percent of the 545 applications.

    The Australian Department of Immigration and Border Protection said it has already granted 65 of the visas to mainland Chinese, who have pumped A $325 million (US$289 million) into its economy.

    Australia launched the program a little over a year ago with the goal of attracting 700 immigrants and investments of A $3.5 billion a year.


    (Read more: Hear that? Sounds like a Chinese luxury implosion)


    Australia is just the latest country to announce a windfall from wealthy Chinese. The U.S., U.K., Spain, Portugal, the Caymans and Gambia have all gotten into pay-for-visa programs for wealthy Chinese.


    Though such efforts have been championed by economic development officials, critics say they don't create jobs and amount to a golden immigration ticket that allows the rich to quickly purchase documentation that would otherwise be impossible or too time consuming to secure.


    They also point out that countries such as Australia are cracking down on poorer immigrants as they open their arms to wealthy ones.


    More than 80 percent of the applicants in the U.S. program, known as the EB-5, are from China. Even though EB-5 has been dogged by scandal, fraud and questions about job creation, demand continues to surge. Under the program, a foreigner who invests at least $500,000 in a qualified U.S. business is entitled to a green card, provided the investment puts at least 10 Americans to work.


    In Europe, many of the programs require an investment in property, which has set off a real estate shopping spree by wealthy Chinese. Portugal is offering residency rights-and potential for European Union citizenship-to investors who buy at least 500,000 euros in property.


    In Australia, wealthy Chinese don't even need to prove their investment creates jobs. Immigration attorneys said most of the applicants are investing in financial markets or bonds. The first successful applicant last year was a 36-year-old toy manufacturer with a young family who bought state government bonds.

    (Read more: 10 insane ways to pimp your megamansion)

    Attorneys said those leaving China are looking for a better quality of life: good schools, luxury housing, clean air, a strong legal system and public security, and a stable political situation.


    -By CNBC's Robert Frank.
    Follow him on Twitter
    @robtfrank.
    http://finance.yahoo.com/news/where-...172016728.html

    Last edited by JohnDoe2; 02-05-2014 at 02:24 PM.
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  2. #2
    Senior Member JohnDoe2's Avatar
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    Chinese becoming big investors
    in global real estate

    THURSDAY, 06 FEBRUARY 2014


    Chinese cross border investment into global real estate markets has risen rapidly since the global financial crisis of 2008, according to a new analysis from Savills.

    It says that wealthy Chinese individuals, with limited investment opportunities at home, have increased their overseas investment rapidly as they have sought to diversify portfolios, seek capital security and find a foothold in international markets.


    Mainland China, when combined with Hong Kong, is the second largest source of cross border real estate investment in the world after the United States, the report points out.


    From 2013 to date, $23.7 billion cross border investment has flowed from China and Hong Kong but money invested directly from Hong Kong is now down 42% on 2007 volumes, while Chinese direct investment is up 1,165%.


    ‘Private capital is particularly important in the domestic Chinese market. China saw $152 billion private capital investment in the year to October 2013, according to RCA, accounting for half of all transactions in the period.


    This is well ahead of even the US, where private capital transactions stood at $85 billion in the year to date, accounting for 34% of all transactions,’ said Paul Tostevin, residential research associate at Savills.


    He explained that it is this private capital, particularly money flowing into domestic property, that was in the first wave of Chinese cross border investment. Those Chinese with overseas business interests were among the first to invest abroad, followed by a second wave of buyers seeking property for their offspring, often bases for student children, or to achieve permanent residency.


    ‘These buyers sought out established, international markets in jurisdictions that have cultural ties with China or with a large Chinese migrant population. Hong Kong, Macau and Singapore, have been followed by other top tier global cities with Chinese diasporas such as Vancouver, London and Los Angeles,’ explained Tostevin.


    ‘We anticipate that a third wave of investors seeking income will follow, chasing higher yields in a wider range of locations than previously,’ he added.


    But he also pointed out that by total value, it is the big ticket investments by Chinese institutions that are really starting to make waves. ‘Major investments in commercial projects, development sites and trophy buildings have been made around the globe. The biggest deals have taken place in the US and UK, followed by Singapore, Japan and Australia,’ he said.

    ‘Chinese buyers have taken advantage of the revaluing of real estate assets in North America and Europe to snap up what look like bargains in currency exchange, comparative pricing and yield terms,’ he added.


    Examples of major investments include ABP China’s £1 billion direct investment in a 35 acre site in the Royal Docks in London to deliver a 3.5 million square feet office complex targeting Chinese businesses.


    In New York, Soho Property has spent more money on Manhattan real estate than any international investor in the last three years. Soho’s purchases included a partnership in a 40% stake in America’s most valuable office tower, the General Motors Building, for $700 million.


    Tostevin also added that partnering with a local player is a common approach, tapping into native market knowledge, while a minority stake can avoid higher taxes triggered when a non-domestic entity has a controlling stake in some markets, notably the US.


    http://www.propertywire.com/news/glo...402068758.html
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    Senior Member HAPPY2BME's Avatar
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    Attorneys said those leaving China are looking for a better quality of life: good schools, luxury housing, clean air, a strong legal system and public security, and a stable political situation.
    --------------------------------------

    That eliminates the entire (former) United States ...
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    Senior Member JohnDoe2's Avatar
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    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


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    Senior Member JohnDoe2's Avatar
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    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


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    Senior Member JohnDoe2's Avatar
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    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


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    Senior Member JohnDoe2's Avatar
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