12 Mar 2015

Immigration News Update

Flood of rich Chinese settle in UK

The number of Chinese citizens who obtained investor visas to the UK doubled last year as more rich people emigrate. A total of 357 British “Tier 1” investor visas were issued to Chinese nationals during the 12 months up to September 2014, thus becoming the biggest group of “Tier 1” investor visa by far. Only 178 Chinese investors obtained such visas over the same period a year ago.

To obtain a “Tier 1” investor visa, applicants must invest more than £ 2 million in the debt or equity of active UK-registered companies or UK government bonds only.

Rich Chinese also have chosen countries such as the US, Australia and Portugal as their favourite destination countries. According to the statistics of such countries, there has been a huge increase in the number of applicants attempting to acquire residency abroad in the past few years.

Many rich Chinese are motivated to emigrate due to worsening pollution, food safety, inadequate health and education systems and also fear of political repression.

(Source: http://www.ft.com/intl/cms/s/0/986bd08a-9b10-11e4-882d-00144feabdc0.html)