As Chinese companies expand overseas, entrepreneurs are increasingly seeking foreign residency and citizenship to facilitate operations in new markets. This trend, highlighted by entrepreneur Steve Xie, shifts from family relocation to practical business advantages.
Local residency is becoming an essential asset for China’s business owners as they go abroad, granting benefits and networking opportunities. Chinese national Steve Xie has been doing business overseas for years. His latest venture, a new warehouse in Egypt, will supply electric vehicles and auto parts to the African and Middle Eastern markets.
But these days, Xie has noticed other Chinese entrepreneurs tend to have one topic on their minds: acquiring overseas residency and citizenship. “Nowadays, the talk is no longer about whether a whole family should move abroad, but about how overseas passports and long-term residency can provide practical advantages when doing business in different countries,” he said.
Entrepreneurs are looking to gain overseas residency and citizenship rights to facilitate their activities in target markets. Local documentation can make it easier to register companies, open bank accounts, sign contracts and unlock other opportunities. This shift reflects Chinese entrepreneurs' demand for practical tools in a globalizing world.
