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Posted by on Feb 5, 2014 | 0 comments |

Chinese people constitute large part of immigrant investors in Australia

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According to a recent statistics of the Australian Department of Immigration and citizenship, Chinese applicants constitute the largest part of the total number of people that have applied for the new investor visa in Australia. Around 90% of the applicants for the program are high wealth individuals that come from China. Australian currently becomes the second most popular foreign destination for the wealthy Chinese immigrants after Hong Kong. The new estimates show that those applicants have invested already more than 300 million Australian Dollars in their new country of residence. Figures from the Department of Immigration and Border Control (AIBP) show that 65 significant investor visas have been granted to Chinese people from the mainland and 90% of the 545 applicants for the permits were Chinese nationals. The reason why the new visa was introduced was in order to boost the Australian economy and to provide immigration opportunities for High Net Worth Individuals, who seek to gain a residence abroad through investment. The Australian Government has introduced the scheme in 2012. The requirements are relatively low. There is not age or language requirements and applicants need to spend in Australian just 160 days per year, which is significantly less than other type of visas. Investors can put their money in state or territory government bonds, directly into private Australian companies not listed on the Australian stock exchange by way of obtaining an ownership interest and must be nominated by a state or territory government agency.

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