Big Investors Turn to NZ, Canada, US as Australia Scraps Golden Ticket: Migration Experts

Published on August 8, 2024

According to a June report, Australia ranked fifth most preferred destination for millionaire migrants, with a net inflow of 2,500 wealthy migrants in 2023. This number increased by 35 percent over the last decade. However, in January, the Albanese government scrapped the millionaire migration program, known as The Golden Ticket, citing concerns over its economic effectiveness and potential misuse for money laundering. As a result, experts claim that big investors are now turning towards New Zealand, Canada, and the United States. “They all have investor programs, and investors are looking around the world. Australia is in competition for talent, but we’re also in competition for foreign direct investment,” says Tony Le Nevez, managing partner at Henley & Partners Australia....

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