Measures to stop the call for applications for a visa category that can enter Australia: January 25

Through investor visas, older people with fewer skills enter the country, and through them the Australian government will have to incur indirect losses to the Australian government, explained Brendan Coates, director of economic policy programs at the Graton Institute A clarification was made. Chris Johnson, who commented on the matter, said that the influx of large amounts of investment into the country did not occur through it, as expected.

The Business Innovation and Investment Program, which allows wealthy foreigners to easily come to Australia and grants Golden Visas or Investor Visas, has been halted to prevent new applicants from applying. Source: SBS

Punti chiave

• Home Affairs Minister Clare O'Neil has decided to stop accepting new applications for business entrepreneurs and, for the Golden Visa investor visa category, which affects wealthy investors
• Only 1,900 visas are planned to be issued for fiscal year 2023-2024
• The authoritarians are of the opinion that the influx of large amounts of investment into the country did not occur through this proponent visa category as expected.

The Business Innovation and Investment Program, which allows wealthy foreigners to easily come to Australia and grants Golden Visas/Investor Visas, has been halted to prevent new applicants from applying.

457 Visa Credit: Public Domain

The Grattan Institute estimates that this decision, opening the door for more trained migrants to enter the country over the next decade, will give the country's economy a multi-billion dollar advantage. And, for the Golden Visa investor visa category, which affects wealthy investors, Home Affairs Minister Clare O'Neil has decided to hand down new applications.

Министерката за внатрешни работи на Австралија, Клер О'Нил Source: AAP / AAP Image/Darren England

Compared to other visa categories, through this, older and less skilled people enter the country, through them indirectly to the Australian government, and more skilled trainees to Australia than billionaires How, here, at the Gratton Institute, the director of economic policy programs, Brendan Coates, made an explanation; Mr. Chris Johnson, a lawyer who commented on this, said, through this investor visa category, the government originally hoped to bring successful businessmen, investors, and entrepreneurs into the country, but they

As expected, the large amount of investment flows into the country did not occur.

This visa category in 2020, the amount of permits available, albeit 11,000, declined steadily, in fiscal year 2022-2023 While the size has dropped to 5,000, it is planned to issue only 1,900 visas for this fiscal year. In the upcoming transitions, a change could be seen, the Minister of Home Affairs, in this regard last month submitted a motion, she said this week, from the country's transit system Australia's economy, the support it deserves, is that this Golden Visa, if not the investor visa, won't get the right shape for years.

Source: AAP

Chris Johnson, meanwhile, sees it debatable as to whether investor visa holders actually provide a stimulus to the economy, here, which has already been submitted, the size of about 30,000 applications, is handled But the federal government has to make a decision.