Australia is the best destination for rich Chinese looking offshore for citizenship or permanent residency through investment, China Daily reported Friday, citing a report by the Chinese website of Forbes.
Australia came out ahead of New Zealand, Germany and Sweden. Canada was eighth and the United States ninth on a list compiled from a blend of factors including housing prices, investment thresholds, security, social welfare, economic development and political system, the report said.
About 18 percent of the 25,500-plus Chinese who gained permanent residency in Australia in 2011 through 2012 do so through investment, the report said.
Yang Fang, from Beijing immigration agency Globevisa, was quoted as saying that Australia and New Zealand have won “hearts” as Canada has tightened its investor immigration plan and Europe’s economic prospects remain murky.
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