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Posted by on Aug 2, 2013 | 0 comments |

A lot of countries try to attract wealthy Chinese immigrants

A lot of countries that have budgetary problems are reducing their visa requirements in order to attract wealthy Chinese immigrants who may bring significant capital with them. While the investor visa programs are open for everyone, many policy makers say that they are targeting mainly affluent Chinese businessmen who want to seek protection for themselves, their families and their assess from potential political turmoil at home. The best investor immigration programs at the moment come from countries in the Caribbean region and Southern Europe. All those countries have weak economies suffocating from toxic sovereign debt. Their offers include visas and citizenship that allow relatively unrestricted international travel and cheap real estate for personal or investment purposes.

In the eastern Caribbean, the island nations of St. Kitts & Nevis and Antigua & Barbuda are battling it out to attract immigrants. Both nations are struggling in a region wrecked by hefty public debt loads and anemic growth; the International Monetary Fund forecasts the Caribbean region’s 2013 growth at just 1.25%

In Europe, the government of Greece is giving renewable fiver year resident visas for foreigners who spend at leas 250 000 EUR for property in the country.  Portugal last year began offering a “golden visa” to foreigners who purchased a house valued at least €500,000, while Cyprus also launched a program for those who spent at least €300,000 on a property. At the same time Cyprus is giving visas to all, who invest 300 000 EUR in the property in the country. The Hungary is also offering visa for people, who invest at least 250 000 EUR in a special government bonds program. Such kind programs are however less attractive for rich Chinese citizens, who search for good real estate deals on first place and visas come second.

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