Australia after the success of its visa programme to attract the wealthy Chinese investors promising the residence, is now eyeing rich Americans to bring investment to the country.
The premium investment visa programme launched earlier in this month requires the participants to invest a$15 million or $11.57 million in order to become resident in Australia.
With the amount required for investment increases this new programme now tops among all existing investment programmes. The two year old introduced significant investor visa (SIV) program which has been very popular among Chinese migrants only requires 5 million Australian dollars.
Investment advisors raised concerns about the wisdom of the program while briefing them about the plan by government officials.
The Australia trade commission aka Austrade responding about the heavy investment requirement says, it is not about the money. This program is about to attract best and top entrepreneurial talent around the world, particularly America as it is the natural place to target for brightest entrepreneurial skills.
The commission also said this program would first begin in the USA, and in future will expand to the major countries like UK.
“Australia has been a place to cultivate new and innovative ideas, R&D, but has lacked capital and entrepreneurial talent to commercialize ideas. This program will help to build links for growth in entrepreneurial spirit”. Austrade said.
Experts consider even there are no major tax benefits and advantages, proximity to the rising Indonesia and china may help to attract the US talent.
Living conditions in Australia and America are same, both are similar countries. However, the 90 percent of 3000 SIV visa participants are from china with no significant American investors hope this program beginning in America would attract investors from the country.
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