According to local Australian media reports: the federal government will conduct a comprehensive review of the immigration system, and the traditional business investment category immigration project 188C may be abolished!
Australia 188C, also known as the major investment immigration visa , was established in May 2012. It does not require academic qualifications, IELTS scores, any business management experience, and does not require age. Applicants only need 5 million Australian dollars to invest in compliance financial products designated by the Australian government, which can prove that the source of funds is legal, and even if the assets come from gifts from relatives, they can be processed. After meeting the investment for 4 years and simple residence requirements, you can apply for permanent residence. Therefore, this project is also commonly known as the "rich visa".
As of 2020, 85% of the successful applicants in the Australian 188C category came from mainland China, and 3.6% came from Hong Kong.
Recently, the Australian Productivity Commission raised questions about the major investment visas set by high-net-worth investors, pointing out that this type of investment visa lacks language requirements, which will cause many new immigrants to be unable to truly integrate into Australian society. Many applicants apply in their later years or in their business careers, and they basically come to Australia to retire.
Therefore, the SIV188C visa for major Australian investors may be cancelled in the budget introduced by the Australian federal government next month.
In the early years, Australia's investment immigration investment supervision was not that strict, and many investments entered the hot Australian real estate market, and once there was a chaos. Therefore, the Australian Immigration Bureau revised the policy, and applicants need to hand over 5 million Australian dollars to the fund to manage and formulate an investment framework, which makes major investment immigration visas standardized. Starting from July 1, 2021, the 188C applicant's investment ratio must be 20% used for venture capital and private equity investment funds, 30% used for investing in emerging companies, and 50% used for balanced investment.
However, it is still unknown whether Australia's 188C will be officially cancelled. Australia has also canceled the 188D visa to invest 15 million Australian dollars to obtain Australia's permanent rights, but the entire cancellation process was not achieved overnight.
Judging from the immigration policy trends of various countries in recent years, the simple and fast immigration methods of traditional major countries will definitely become less and less, and news of other immigration projects changing governments is endless, either stopping or rising. For those who have the need for identity planning, timely handling during favorable policies is the most worthwhile investment.
