HONG KONG - Hong Kong's reputation as a haven for freewheeling business has steadily eroded since the territory was handed over to China from Britain in 1997. As anti-government protestors step up demands for democracy, and with demonstrations becoming more violent, however, the business environment is getting worse.
High-technology professionals, bankers and financiers head the list of those wanting to go to the United States, a desire that has taken on an added sense of urgency with the level of investment required for the EB-5 U.S. investment visa, known as the "golden visa," leaping to $900,000 next month from $500,000, where it has been since 1993, as part of an effort to stem money laundering.
The EB-5 visa grants a two-year conditional green card in return for investments in struggling parts of the United States, and applicants have until November 21 to apply under the current investment level.
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