We continually hear that the reason that so many wealthy Chinese people want to immigrate to the United States using the EB-5 investment visa plan is that there ARE so many Chinese millionaires.
That information is misleading.
People tend to think that China has more millionaires than any other country because it has more people than any other country. In fact, as of 2015, China has 1.3 million millionaires. That’s a lot of millionaires, but there are five countries that have more. They include Germany (1.5 million), France (1.8 million), Japan (2.1 million), the UK (2.4 million), and the USA (15.7 million). It might be hard to believe, but Italy has almost as many millionaires as China does, with 1.1 million.
So, if interest in EB-5 in China were because of the number of millionaires, why aren’t there more millionaires from Germany, France, Japan, the UK, and Italy interested?
Things change when you look at billionaires. China ranks second only to the U.S. in that category with 430. The U.S. has 537. From there, it is a long way back to third place, which is India with 97.
The numbers issue should really focus on which countries have the greatest number of ultra-high net worth individuals (minimum net assets of $50 million USD). Aside from the U.S., which has 58,855 UHNWI, China is the unchallenged world leader with 9,555.
Still, the question remains, where are the EB-5 applicants from other cited countries? What do you think?
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