Rich Chinese seeking overseas residency

Porsche-driving Louie Huang lives in Shanghai, having made his money - a lot of money - in property.

He is having a 200-room villa built here and owns properties in at least five other cities around the world.

But while his business interests remain in China, he has also stumped up the sizeable investment needed to buy himself residency rights in Singapore.

He says it is for a number of reasons, in particular the opportunity it might bring his future family.

But he admits that for many of his wealthy friends it is a sense of insecurity which is leading them to ponder a life outside China.

"Most of them think I've got so much money here but one day maybe the government will change the policies and take it all back," he says.

Visa for jobs

Entrepreneurial, well-connected or just plain corrupt, it does not matter how they made their fortunes, there is mounting evidence to show that China's super-rich are heading for the exit.

At a seminar in a plush office suite with a spectacular view of Shanghai, Chinese entrepreneurs with at least half a million dollars to spare are being encouraged to invest in the US economy, Kazinform cites BBC News.

The EB-5 visa scheme is an investment-for-residency programme, handing out green cards as long as the investment can be shown to have created at least 10 jobs.

In 2006 Chinese nationals were granted just 63 visas under the scheme. Last year the figure had leapt to more than 2,408 and this year it is already above the 3,700 mark.

It means a tidal wave of Chinese money is currently pouring into US infrastructure projects.

The scheme is open to any nationality but Chinese investors now make up 75% of the total.

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