Wealthy Chinese are scrambling to find other destinations for their money after Canada, once their favourite destination, cancelled its Immigrant Investor Program two weeks ago.
They are turning to the United States, where 80% of immigrant-investor applicants are from China, Australia and Europe.
Australia gives permanent residency to immigrants investing the equivalent of $5 million.
In Europe, Portugal gives “golden residency permits” for the equivalent of $1.5 million in capital investment or $750,000 in real estate.
