Oz relaxes visa rules for rich investors

Published:  25 May at 6 PM
Want to get involved? Become a Featured Expat and take our interview.
Become a Local Expert and contribute articles.
Get in touch today!
Rich business people will be offered a faster path to resident visas as part of Australia’s government scheme to lure more investments to the country.

Chris Bowen, Australia’s Immigration minister, formally announced the plan today, saying the government wished to improve the existing investment visa scheme.

Bowen told ABC radio that those willing to make large investments in Australia via various investments would receive benefits when it came to permanent residence status in Australia.

The country wants to attract people interested in investing in Australia to funnel their money into Australian hands and help the nation’s banks invest in organisations which can later go on to invest in the country’s infrastructure.

Bowen stated he expected around 7000 visas for business investment to be given as a result of the reforms. He said it was crucial for the country to attract wealthy investors who are prepared to take on significant investment risks in generating jobs and economic growth.

He said that, if the country can attract people, especially those who wish to innovate and take risks, and those wishing to invest in industries having trouble getting capital in Australia, then these overseas nationals can help the nation create jobs and growth.
Like this news?

Comments » No published comments just yet for this article...

Feel free to have your say on this item. Go on... be the first!

Tell us Your Thoughts On This Piece:

Your Name *
Email * (not published, needs verification one time only)
  • Facebook
  • Follow us on Twitter
  • RSS feed
  • Facebook

Latest Headlines

News Links

News Archive