Mainland Chinese are in queue for Australia's 'millionaire visa'

February 05, 2014

Ever since Australia has launched the millionaire visa program in Nov 2012, Chinese are the third largest group of people migrating to Australia under this program after UK and New Zealand. As per the information provided by the Australian Department of Immigration and Border Protection, 91% of the applications are from Chinese nationals.

The rich individuals have to put in $A5 million in Australia to acquire a visa and the individuals who invest for more than four years are suitable for a permanent residence. The Rich Chinese nationals are considering this as an opportunity to live in Australia. Until now, Australia has approved 65 'significant investor' visas to mainland Chinese.

Coming into details here are the necessities to acquire one of the well prized visas.
  • All that you need is to invest A$5 million in Australia. These investments that meet specific standards  include government bonds, governed  funds and Australian owned companies
  • People who made an Investment for more than four years are eligible to apply for a permanent visa.
Mark Wright who is the leader of global immigration and the partner of Deloitte shared his views with Australian Broadcasting Corporation saying that Australia is looking to draw the attention for huge level of savings to meet the development in the quality level of social and the economic basic organizational structures and facilities that include roads, power supply and buildings.

 As per the report given by professional services company  the Chinese State-Owned Enterprises (SOEs) financial expenditure is about 64%  of the total amount spent for Australian agriculture between the year 2006 and 2012. When compared to the other sectors such as mining and gas, Chinese companies are playing an additional role.

As per the immigration specialists of Hong Kong, the property prices over the past 12 months at Sydney and Melbourne have raised by 10% and 6% respectively.

According to the statistics provided by the Australian Bureau, the Asian immigrants to Australia have increased from 24% to 33% from the year 2001 to 2011.

Immigration is an affective and politically stimulating subject in Australia. The conservative Liberal Party had won the elections promising that it would implement strong policies in the country's immigration laws.
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