S’pore, US among top destinations for rich Chinese migrants

November 4th, 2011 at 11:12 pm

About 60 percent of the rich Chinese people, each of whom has a net asset of at least 60 million yuan (S$12.12 million), said they intended to migrate from China, a report has found.

About 14 per cent of them have either already migrated from China or have applied for migration.

The three most favoured destinations by the Chinese rich are the United States, Canada and Singapore. The US is the first choice of some 40 per cent of the people interviewed, according to a white paper jointly released by Hurun Report and the Bank of China (BOC) on Saturday.

According to US Citizenship and Immigration Services (USCIS), the number of Chinese applicants for investment immigration has exceeded applications from any other country or region.