Chinese investors are already a bit longer on the agenda for European countries, but most of them have been rather unsuccessful in getting the wealthy Chinese as residents to pick up bits and pieces of the depressed real estate market. There is a long tradition of migration from provinces like Zhejiang, Fujian and Guangdong, but those Chinese were mostly driven by poverty, and often came illegal.
The recent article in the Guardian on Cyprus came a bit as a surprise. Most richer Chinese would go to the UK, Australia or the UK, often in combination with education for their children. But even countries like Switzerland, with larger diaspora from Africa, the Middle-East, India and Russia, have not really been successful in attracting the new generation of China's rich.
The main take-away from the Guardian: between August and October 2012 600 properties in Cyprus were picked up by Chinese, expecting to get access to the other Schengen Countries too. Needed: an investment of euro 300,000, no criminal record, good financial status and euro 30,000 at a Cypriotic bank. Direct family members can get similar visa, within about 45 days. Other European countries like Spain, Ireland and Portugal are discussing similar program. But are the competitive edges for those countries and how are the other
Schengen countries dealing with those stepping stones for Chinese?
The China Weekly Hangout on Thursday 21 February will be joined by
+Pol Panayiotides, representing a law firm from Cyprus to explain more about his island and the background of this program. Are you involved in similar program, also from other countries? Do join us too, and drop me a line
+Fons Tuinstra .
You can register here.
During the event hashtag on twitter and Google+: #CWHCWH
Why are Chinese leaving China, asked the China Weekly Hangout in September 2012. The question was discussed by
+Meixian Li ,
+Isaac Mao +Richard Brubaker and
+Fons Tuinstra
You can get a complete overview of earlier China Weekly Hangouts here.
