Top RCBI destinations that attract Chinese HNWIs
Since their establishment in the 1980s, residency and citizenship by investment programs (RCBIs) have gained popularity among wealthy individuals from developing countries. These programs provide opportunities for global mobility and asset preservation by obtaining second passports or residencies in more developed economies.
During this time, China experienced an economic boom that propelled it to become the world’s fastest-growing and second-largest economy. This rapid growth led to the expansion of the middle class and wealthy citizens. Given China’s vast population, many Chinese individuals became the largest group seeking RCBI programs worldwide.
According to a 2023 wealth report, the number of super-rich Chinese individuals has increased tenfold since the beginning of the new millennium. China currently boasts 2,250 centimillionaires (with fortunes of $100 million and above) and 285 billionaires. Additionally, it has nearly 800,000 high-net-worth individuals (with fortunes of $30 million and above). This positions China as the second-largest concentration of wealthy individuals globally, making it a primary market for RCBI programs worldwide.
Wealthy individuals, regardless of their nationality or place of residence, seek access to countries that offer a better quality of life, top-tier healthcare, and world-class academic institutions for their families. Above all, they desire the option to live or relocate to politically stable jurisdictions that protect and preserve their wealth. This trend is evident in the growing interest among wealthy Chinese individuals in obtaining second residencies to safeguard their assets and mitigate political instability risks.
Golden Visa programs in Europe remain the most sought-after RCBI destinations for Chinese families. Prior to the Covid-19 pandemic, approximately 25% of North Asian applicants applied for European residence by investment, another 25% opted for Caribbean investment migration programs, and the remaining 50% applied for programs in Asia. However, the pandemic has caused a shift, with over 40% of applications now directed towards European programs, 30% towards Caribbean programs, and only 20% towards Asian programs.
Now, let’s explore the top six RCBI programs that Chinese applicants have shown the most interest in.
EUROPE:
Portugal:
The Portuguese golden visa program has been a preferred choice for Chinese investors seeking EU residency and a path to citizenship. Its straightforward application process and relatively low investment threshold of $250,000 have made it highly sought after.
Malta:
Malta’s golden visa program has also been popular among wealthy Chinese applicants. Despite facing scrutiny, it remains an attractive option for quick EU access with an investment starting at €600,000. Chinese investors constitute a significant portion of applicants.
CARIBBEAN:
Antigua and Barbuda:
The Antigua and Barbuda program offers visa-free access to Europe and the UK in exchange for a donation. Chinese applicants have shown considerable interest, comprising the majority of applicants since the program’s inception.
Grenada:
Chinese investors favor Grenada for its benefits, including access to the U.S. E-2 visa. While exact figures are unavailable, the majority of applicants for Grenada’s golden passports are reported to be Chinese.
St. Kitts and Nevis:
Established in 1984, St. Kitts and Nevis’ citizenship by investment program is among the most popular in the Caribbean. Its strong passport and developed infrastructure attract wealthy Chinese applicants.
ASIA:
Singapore:
Singapore has gained popularity among Chinese investors, particularly following the pandemic. The Global Investor Program offers residency for a significant investment, making it exclusive to ultra-high-net-worth individuals. Singapore’s stability and proximity to China contribute to its appeal.