Posted on 06/10/2021 7:04:15 AM PDT by SeekAndFind
Data shows that 16,000 Chinese and 7,000 Indian high net worth individuals moved out of their respective countries in 2019. The study by AfrAsia Bank covered only individuals with a net worth of $1 million to $9.9 million, who took up residency in a new country and spent at least half of the year there.
While these millionaires for China and India constituted only a loss of 2 percent of their HNWI population, Statista's Katharina Buchholz notes that the relative outflow from Russia and Turkey was higher at 6 and 8 percent, respectively.
According to the report, work opportunities, tax and financial concerns were among the reasons HNWI were deciding to make these moves. But the decision could also be of a personal nature. Better health care systems, better education systems, safety, a better standard of living and - last but not least - escaping an oppressive regime also led to HNWI picking a new home.
You will find more infographics at Statista
Australia topped the list of receiving countries, attracting 12,000 HNWI in 2019, which upped its HNWI count by 3 percent.
The U.S. and Switzerland came in rank two and three, adding 10,800 and 4,000 HNWI.
Portugal and Greece were also among the top 10 of countries attracting HNWI. In addition to their sunny climates, both countries run investor programs which grant access to EU residency and citizenship. Only around 30 percent of HNWI emigrate using investor visas, however. The majority actually uses traditional means like work visas, family visas or gaining a second passport through ancestry.
Hong Kong is number 4 and it’s a CITY, not a nation. Pretty interesting.
RE: Hong Kong is number 4 and it’s a CITY, not a nation. Pretty interesting.
They should now lump Hong Kong in with China. It’s no longer the autonomous city that we were used to.
Not long ago, Hong Kong had the 2nd highest number of billionaire residents than any other city in the world.
China is funding all of our liberal “education” centers and “news” outlets to train us to make the U.S. to be more like home to the incoming Chinese millionaires.
Portugal and Greece has “Golden Visa” which allows people to basically buy residency and, after a period of time, citizenship with all the rights that come with European citizenship.
These countries should block Chinese citizens from these programs. Why allow Chinese colonization? It’s cultural suicide.
Probably because china’s dark shadow is hovering over them.
I am surprised Taiwan is not in the top ten.
If I was a rich person there, I would at least have an escape plan. It is only a matter of time.
You could buy your way into Canada at one point in time.
My dentist’s family (from Taiwan) bought him a one way ticket to Canada for $250K about 25 years ago.
Now he has two dental practices. One in MA, another in NH.
His parents are still there.
I would think if you look at Americans of wealth moving from American Soviet states to conservative ones, for the same reasons, you’d get even larger numbers.
People with the Means to do so are Fleeing Socialism Domestically and Internationally
They should now lump Hong Kong in with China. It’s no longer the autonomous city that we were used to.
Most of the smart ones left or put their money out of reach shortly after the 1997 handover. The writing was on the wall, it was just a matter of time before the Chinese did what they've done.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.