PANIC FOR FCBS!!!!

NEW -> Contingent Buyer Assistance Program
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A dramatic surge in interest from wealthy Chinese is threatening to overwhelm a U.S. program offering investors green cards in exchange for cash.

The number of applicants is now so great that the government might run out of permits.

Any foreigner willing to commit at least $500,000 and create 10 jobs in America can apply for an investor immigrant visa -- also known as an EB-5.

The demand from mainland Chinese eager to move abroad has already led the U.S. government to warn the program could hit a wall as early as this summer.
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"There is a panic being created in China about the demand [getting] so big that there is going to be a visa waiting line," he said.

The EB-5 program is limited to 10,000 visas per year, a number that includes visas granted to an investor's spouse and children.

At the moment, there are 7,000 applications pending, said David Hirson, a partner at immigration law firm Fragomen. If just half are approved -- and each investor moved with two family members -- the program would easily surpass its annual limit.
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http://finance.yahoo.com/news/rich-chinese-overwhelm-u-s--visa-program-181413597.html
 
$$$ talks

All this means is that our government is about to take in more money.  They will work it out someway or another.  lol 

Next thing you know these Chinese can't go through their normal channels anymore.. they'll have to go to Mr. Chow down the street who has the "hook up". 

Homie I have a new business plan:
Mr. Chow only conducts meetings via Skype so you never actually get to meet him in person.  The money gets wired to Mr. Chow as a deposit of good faith.  After he receives the money... well the fake fu man chu comes off and it's Homie and Jmoney on the other end laughing all over the Interwebz. 
 
When Canada ended their program, USA picked up the slack.
Regarding this program with the green cards, I wonder if they have to declare how much money they have in Chinese banks, because once they get their green cards, the IRS will want to know.
 
Just suck it up America. China wants to ram another 100,000 chinese investment immigrants down your throat.  America needs Chinese to support the RE economy and keeping consumer goods cost effective. Weren't for the Chinese the housing recession would still be in the s---hole. Chinese raise the bar in everything and they are ideal future Irvine residents but don't give them car keys.

 
Wow.  Explains a lot.  There should be driving classes here.  I sure wouldn't want to drive there!
 
Looks like the wealthy government officials in China are fleeting China in big waves.  Panda should seriously consider advertise JC in China and hopefully he can direct some of mainlanders to JC instead of Irvine. :)

Beijing is having a hard time convincing officials they shouldn?t abandon China:

The number of wealthy Chinese families (whether headed by a government official or not) looking to relocate abroad appears to be going up.  A survey published last week by the Hurun report and the Visas Consulting Group in Shanghai found that over half of 141 Chinese families with $1 million or more in assets, had or were planning to emigrate.

The People?s Bank of China estimated that up to 18,000 officials had left China between the 1990s and 2008. But over the past five years, it?s estimated that more than 1 million.
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http://qz.com/218369/beijing-is-having-a-hard-time-convincing-officials-they-shouldnt-abandon-china/
 
They're not really leaving.  They just have an exit strategy with resources in a 2ndary country in case they fall out of graces with the Communist government.  The event with Boxilai is a cautionary tale.  He should have ran to the USA before he got caught.  Atleast his son got away.
 
The mid-management level of corruption are choosing Irvine so don't congratulate yourself so soon yet because the high level corruption are heading to Long Island, NYC, Vancouver and Silicon Valley.
 
Bo Gua Gua is happily screwing his blonde girlfriends at Columbia. Ivies welcome princelings with open arm.

zubs said:
They're not really leaving.  They just have an exit strategy with resources in a 2ndary country in case they fall out of graces with the Communist government.  The event with Boxilai is a cautionary tale.  He should have ran to the USA before he got caught.  Atleast his son got away.
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Canada is not really ending their investor immigration program.  They're re-assessing the "value" of investor VISAs before raising the minimally required sum, then they'd be open for business again.
http://www.cnn.com/2014/02/04/world/asia/australia-china-immigration/http://money.cnn.com/2013/11/26/news/europe-golden-visas/

I'm sure many of us know that wealthy Chinese investors are doing this for their kids, but from property investment perspective, it's probably better for them to invest abroad in real estate, than leaseholds in China.

 
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