Hong Kong turmoil pushes wealthy residents to seek safe haven in US and Portugal

Pedro Gonçalves
clock • 3 min read

As protests and police actions intensify, Hong Kong's wealthy are increasingly looking to buy homes in the United States and relocate there. Edward Mermelstein, a wealth management consultant based in New York, told SCMP that over the past two weeks, his company has received four inquiries from Hong Kong clients about relocating their families to the US, with the intention of investing between $10m to $100m, he said. Mermelstein said it was "an extremely unusual situation". "Hong Kong residents were typically just investors and had no interest in becoming US residents. But t...

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