Chinese High Net-Worth Individuals Likely to Move West

The acronym ‘BRIC’ is commonly used to refer to the countries of Brazil, Russia, India and China as new economic superpowers.

About half of China’s wealthy are considering moving to a new country within five years, says a recently released report by U.K.-based bank Barclays.

Shanghai Skyline

According to Wikipedia, the acronym has come into widespread use as a symbol of the apparent shift in global economic power away from the developed G7 economies towards the developing world. These countries have begun to embrace global capitalism as a means of boosting trade, exports and raising incomes for their citizens.

The BRIC nations have seen their middle classes expand dramatically, along with an increase in high net worth individuals. As China’s economy continues to grow, the number of Chinese millionaires grows along with it. However, as the number of Chinese millionaires grows, the number of those aiming to leave China is growing ever larger.

About half of China’s wealthy are considering moving to a new country within five years, says a recently released report by U.K.-based bank Barclays. The survey of more than 2,000 individuals around the world, all with personal wealth over $1.5 million, showed Chinese are more eager to emigrate than high net worth individuals in any other region.

“At RCI, our offices in China have noted the trend for high net-worth individuals moving abroad in the next few years,” said Sylvain Payette, President and CEO of Renaissance Capital. “In response, I believe we’ve put a number of attractive products in place to capitalize on this impressive outmigration,” he continued.

Forty-seven percent of wealthy Chinese citizens planned to move abroad in the next half-decade. That is compared with 23 percent in Singapore and 16 percent in Hong Kong. One-fifth of wealthy British citizens intended to emigrate, while only 6 percent of Americans and 5 percent of Indians had that plan, reported the South China Morning Post, citing the report.

Where do these HNW individuals want to go? In large numbers, it’s to English-speaking Western countries. Gaining a passport from countries like the United States, Canada or the European Union can be achieved through a Citizenship from Investment Programs (CIP)from RCI Capital Group, one of the largest non-banking financial institutions in Canada and a global leader in attracting foreign investor capital, along with managing and delivering global government bond-based immigrant investor programs.

“We have been completing these kinds of transactions on behalf of high net worth individuals and entrepreneurs for many years,” said Payette. “As our reputation for providing sound investment advice along with immigration experience grows, people are contacting our foreign RCI branches to enquire about our programs.”

For investors living in countries with challenging travel restrictions, the RCI CIP program represents front-of-the line access to a world of foreign destinations. In exchange for participating in either RCI Capital Group’s EB-5 Regional Center investment program or the Quebec Investor Program (IIP), our investment dealers work to help prospective applicants in acquiring a North American passport with all its rights and privileges.

Immigrants who qualify under this category benefit from expeditious processing towards their permanent resident visa, without the restrictions found within other categories. Through their Immigrant Investor Programs, Canada and Quebec welcomes thousands of experienced business people and managers every year, granting them Canadian Immigrant visas which lead to citizenship for themselves and their family members.