Australia scraps ‘golden visas’ for wealthy migrants
Scheme gave residency to people prepared to invest at least A$5m in Australia but has been criticised for also enabling criminals to park money.
It was found that 84% of the visas were granted to Chinese applicants.
Months after announcing a sweeping overhaul of its visa and immigration program, Australia has now dropped the so-called ‘golden visa’, which enabled wealthy overseas investors to gain residency and a pathway to citizenship.
Thousands of the ‘Significant investor visas’ have been granted
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