Australia Abolishes’ Golden Ticket’ Visa Scheme for Wealthy Chinese

Published on January 22, 2024

The Australian government has axed a visa scheme designed to attract wealthy Chinese nationals as part of a major overhaul of the country’s migration system. In an interview with NCA NewsWire on Jan. 22, Home Affairs Minister Clare O’Neil stated that her department had paused applications for the significant investor visa, which allowed wealthy foreigners to quickly gain Australian permanent residency if they invested $5 million (US$3.3 million) in the country. The minister said the visa program, which was dupped as the “golden ticket” by media outlets, was part of a “broken” migration system that the Labor government needed to fix....

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