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The number of Chinese executives arriving in the US on L-1A and L-1B intracompany transfer visas has spiked over the last 10 years, according to an article published by CNNMoney. China is reportedly relocating thousands of executives to the US to work in new US acquisitions on L-1A Executive or Manager visas.
The rise in the number of Chinese expat employees working in the US is understood to be on an upward trend and has been attributed to what CNNMoney describes as an ‘explosion in the takeover of American firms.’
Sanwar Ali, Editor of workpermit.com has the following comments to make:
The number of visa options for Chinese citizens is quite limited. In many cases the only real option is the L-1A intracompany transfer visa. The 85,000 visa quota for the H-1B visa for specialty occupations runs out within a few days near the beginning of April each year. Chinese nationals do not come under the E-2 Treaty Investor Visa scheme or E-1 Treaty Trader Visa. The L-1A visa for executives and managers who have worked for a company with common ownership outside the US for one year in the last three years is likely to be the best option for Chinese nationals.
More than 10,000 L-1 intracompany transfer visas issued to Chinese in 2015
According to an analysis of US government data, carried out by CNNMoney, 10,258 L-1 visas were granted to Chinese workers and their families in 2015, which is four times more than the numbers granted in 2005.
The L-1 visa enables companies with operations in the US, and other foreign nations, to relocate staff to America, according to CNNMoney. Chinese executives are said to consider the opportunity to bring their families along with them ‘a bonus.’
Chinese firms and US investment
Data compiled by Dealogic – a financial markets platform - shows that Chinese corporations have been investing heavily in the US. In 2015, Chinese firms splashed out $17 billion alone on 120 deals and investments across the United States. In 2016 that figure has grown, with $29.4 billion already spent on new deals.
Chinese target US EB-5 Immigrant Investor and EB1 Employment Based Visa
Recently, the US State Department announced that it will soon cease to accept applications from Chinese nationals for certain visa types, due to annual quotas being reached. One of those visa types is the EB-1 visa, which is granted to individuals of extraordinary ability.
The popular EB-5 immigrant investor visa program, which offers residency to individuals who invest at least $500,000 in the US, has also been closed to Chinese nationals in previous years as a result of high demand.
Over the last 10 years, the number of EB-5 investor visas granted to Chinese citizens has increased sharply, from a few dozen, to 8,156 in 2015. The number of investor visas issued to China in 2015 accounts for 85% of the overall total issued that year, according to CNNMoney.
The EB-5 visa program has been heavily embroiled in controversy with a series of highly publicised scandals over mismanaged investments, which has led to US lawmakers calling for greater transparency and accountability. There is uncertainty over the future of the EB-5 immigrant investor program. It is currently up for renewal.
The program has also been criticized as a way for the rich to ‘buy their way into America.’ However, supporters of the program say that it attracts ‘vital investment dollars’ to the US.
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