Massive migration from China took place starting from the early 19th century right into 1950s, mainly driven by starvation and invasions from foreign countries. After 1980 however, an increasing number of Chinese migrate overseas with the implementation of a liberal migration policies .  The majority of emigrants  are  China’s  richest individuals and its highly educated elites who cite  higher political openness, quality of life, economic stability, and better educational opportunities as the main reasons for moving abroad. According to Pew Research, China has changed from being the 7th largest exporter of immigrants to the 4th largest, with an increase of more than 125 percent in population. In 2015, overseas Chinese has reached over 60 million. US, Canada, Australia, Japan and Singapore are the most popular immigration countries for Chinese. More importantly, over half of the immigrants are affluent individuals with investment immigration becoming one of the most popular migration choices.

Emigrating from China still remains a complicated and lengthy process because of the increase restrictive immigration policy of other countries and their frequent amendments. Nonetheless, wealthy Chinese are still interested in emigration for reasons that range from protection, tax planning, family wealth / succession planning etc., to the growth of their wealth.

Donglin Family Office is dedicated to HNW (high net worth) individuals in the Great China region. A survey conducted by the Donglin among its HNW clients of the past 5 years found that over 80% of them are planning to emigrate for different reasons. The top reasons for moving abroad are better educational and employment opportunities for their children. Meanwhile, concerns about pollution and food safety problems has gained increasing considerations among HNW Chinese. Concerns about their welfare has slightly decreased while tax issue has rapidly increased due to the implementation of stringent tax laws and higher tax rates in traditional immigrant countries such as the US.  Moreover, over 80% of the survey participants expected to receive sufficient information as well as neutral advice when emigrating including education, employment, tax and potentially succession issues overseas.

Donglin is offering diversified and need-based resources and services concerning emigration to our clients. Emigration planning plays a significant role for family firms like Donglin in both the protection of and wealth succession planning. Life-long advice as offered by Donglin helps clients to reduce potential risks and ensure wealth is passed on through generations.

In 2015, Donglin became the Founding Member of the Advisory Committee of the IMC (Investment   Migration   Council)   –   the   worldwide   association   for   investor   immigration and citizenship-by-Investment, bringing together the leading stakeholders in the field and giving the industry a voice. As a leading family company in China, Donglin is speaking for our clients from around the world about the emigration concerns and consolidate cutting-edge information and resources for HNW Chinese. Currently, Donglin is exploring cooperation with the UN, APEC and with philanthropic organizations to boost the healthy flow of world population and wealth succession.

Author: Crystal Jiang, Principal, Donglin Family Office, Hong Kong

www.donglinfamily.com