U.S. immigration-eyed investment risky

BEIJING, Dec. 5 (Xinhua) -- As more Chinese new rich bet their future on emigrating to the United States, experts warn outbound investors of the pros and cons before deciding where to put their money.

U.S. official figures lately revealed to Xinhua indicates a growing number of Chinese were trying their luck at attaining U.S. permanent residency through investing a minimum of 500,000 U.S. dollars in starting or taking over businesses in the United States.

Xiao Lian, a researcher with the Chinese Academy of Social Sciences (CASS) Institute of American Studies, said in an interview with Xinhua, "Some Chinese might calculate better property protection, living environment and education for kids through immigration to the U.S."

In fiscal year 2011 ending Sept. 30, the U.S. Citizenship and Immigration Services (USCIS) received 2,969 immigration petitions from Chinese entrepreneurs eyeing residency through the Immigrant Investor Program, known in short as "EB-5," USCIS officer Bill Wright responded to a Xinhua email inquiry.

The 2011 figure is double of that in 2010, and a ten-fold increase from 2007, the USCIS data showed. The USCIS approved, also in fiscal year 2011, 934 petitions from Chinese entrepreneurs, a six-fold increase from 2007.

With an investment of 500,000 or more U.S. dollars, successful EB-5 visa applicants, passing strict background checks for verifying wealth sources, may first gain conditional Green Cards, then see the conditions removed in two years before they choose to become U.S. citizens in five years. Spouses and children, accompanying Green Card holders, are authorized to work or attend schools in the U.S.