Invest $5 million to gain Australian residency

Australia, 26th May: Are you a millionaire wanting to invest overseas? Australia welcomes you, say the new rules.

Australia intends to welcome wealthy foreign businesspeople by launching a new special Australian visa category.

Special Australian investor visas for millionaires seeking Australian residency --This special Australian visa will provide wealthy foreigners a route to Australian permanent residency. The only condition is that each investor must be willing to make investments to the tune of Australian $5 million (equivalent to US$4.9 million).

Chris Bowen, Australian immigration minister, said foreigners who are ready to invest significant amounts in Australia will be given concessional treatment regarding Australian permanent residency. Australia expects to grant around 7,000 Australia business investment visas following changed Australian immigration rules, Bowen asserted.

To be introduced by Australian government from 1st July, 2012, the new category of special Australia investor visa will provide concessions to foreign investors on the requirements of usual Australian visa.

As per common norms, foreign migrants get ranked on the basis of factors like age, English language proficiency, qualifications and stay in Australia.

New changed Australian visa rules will bring it in line with other nations allowing immigration on the basis of foreign investments. Some of the other nations having such immigration criteria include the UK, New Zealand, Canada and Singapore.

Special Australian visas for job creation—As per Australian immigration minister Chris Bowen, main aim of launching special Australian visa category is to help boost the number of new jobs in the nation. This will significantly increase economic development in the nation.

Giving details about the new Australia visas, immigration minister Bowen said the nation is all set to lure wealthy investors looking to make investments in a stable economy for making their investments secure.

Significant foreign investments in Australia will lead to new jobs and give impetus to national development, he affirmed.

New Australian permanent visa to attract wealthy Asians, especially Chinese—Australia’s latest addition of new permanent visa category is expected to get higher number of Asians to move to Australia, said Bowen. He gave a special reference to Chinese wealthy businesspeople for special Australian visas.

However, he clarified that these Australian visas would be available on a non-discriminatory basis.