Demand for investment-based emigration from wealthy Chinese is shifting to the U.K. from the U.S., according to a recent data report, citing an escalating trade war, a weak British pound and desire for further diversification as drivers.
According to data from London-based investment firm Growthdeck, application for the tier-1 U.K. visa from wealthy Chinese increased by more than half to reach 83 in the first three months of 2019 (including 10 from Hong Kong), marking the highest amount since the fourth quarter of 2014. Meanwhile, China-born applicants for the U.S. «golden visa» – EB-5 – fell by nearly half since peaking in 2014.
In addition to political and economic considerations, waiting times can also stretch to 16 years, further reducing the relative attractiveness of EB-5 visas.
Act Fast!
Growthdeck recommends Chinese applicants of the British tier-1 visa to act as quickly as possible due to the uncertainty caused by potential disruptions from Brexit.
One such possibility is the tightening of visa approvals by increasing the minimum investment amount from the current £2 million ($2.5 million). The EB-5 visa will raise its minimum amount from $500,000 to US$900,000 in November this year.
The attractiveness of U.K. emigration is rapidly growing in the broader Greater China region with another report claiming that applications from Hongkongers for the tier-1 visa doubled in the second quarter of 2019.
