The so-called “golden visas” will be replaced by visas for skilled workers.
Since 2012, Australia has granted thousands of visas through the program, with 85% of them going to Chinese investors, according to government data.
To qualify for the program, a candidate had to invest more than five million Australian dollars (approximately three million euros) in Australia, and the program was promoted as a way to encourage foreign investment and innovation.
After reviewing it several times, the government found that the program had not achieved its main objectives. In December, the government announced it would scrap the “golden visa” program, instead offering more visas to “skilled migrants” who can “make a huge contribution to Australia”.
“It has been clear for years that this visa is not delivering what our country and economy needs,” Home Secretary Claire O’Neill said on Monday.
Transparency International Australia chief executive Clancy Moore welcomed the move, telling the BBC that “for too long corrupt officials and kleptocrats have used ‘golden visas’ as a means of storing their illicit funds in Australia and potentially hiding their ill-gotten gains.” funds.”
The program has previously been scrutinized for its potential “flaws” and “vulnerabilities.”
In 2016, there were concerns that it had “the potential for money laundering and other nefarious activities”, while in 2022 The Australian newspaper reported that the program was also used by members of Cambodia’s ruling regime.
A government investigation found the visas were bringing people into Australia with “less entrepreneurial acumen” than would otherwise have been the case, while offering tax breaks that were damaging to society.
Britain abandoned a similar scheme in 2022 because of concerns that it would funnel illicit money from Russia into the country. The so-called “golden visa” scheme is also under scrutiny in Malta.
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2024-01-22 17:17:29
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