(Canberra Comprehensive) Australia will review the "major investor visa" plan to invest at least $ 5 million (about $ 4.78 million) in Australia.The Minister of the Interior O'Neal believes that the plan has been approved to provide convenience to the rich in China, and there is no reason to be retained.
Major investor visa is an immigration visa launched by the Australian government in 2012 to attract more overseas investment and introduce overseas high net worth investors.Applicants have no age restrictions and no language requirements. They only need to ensure that their investment is maintained during the visa period, up to five years.
In response to whether Australia should continue this plan, O'Neal pointed out that "there are not many benefits, no reason to retain it."
Australians under Australian News Group also bluntly criticized the plan, saying that at least 600 rich Chinese people used this visa as a way to obtain Australian citizens.
The founder of Hermitage Capital and the main promoter of Magnitsky Act, the world's Magnitsky Act, also believes that this plan and other similar plans around the world should stop."If people are legal immigrants, they should obtain regular work permits like others."
The Gradan Research Institute of the Australian Public Policy Think Tank also called for the cancellation of the "Business Innovation and Investment Visa Plan" related to major investor visas.The Institute stated that the projects have made items that are not easy to get approved to get financing, and visa holders have relatively few income tax income provided by the government.
Research institutions quoted data from the Australian Ministry of Finance in a report last year, saying that these visa holders are over 45 years old and their English level is low.
