Australia 188C investment immigration visa is about to be cancelled, but it has not been closed yet and is ready to close. 90% of the previously approved are Chinese.
On September 11, 2022, the Australian 188C investment immigration visa is also called "Golden Visa" or "Rich Visa". As the first choice for rich people, this is the most worry-free and labor-saving immigration method!
According to the " Daily Mail " report on September 11, the federal government will conduct a comprehensive review of the Australian immigration system, and investment immigration visas for overseas wealthy people may be cancelled!
Significant Investor Visas (hereinafter referred to as SIV Visas) is also called the "Golden Ticket" visa. The visa requires applicants to invest $5 million in compliant investment projects for a duration of at least 4 years.
SIV visa was launched by the Gillard government in 2012, but federal Interior Minister Clare O'Neil said it has become a problem with the immigration system.
O'Neil said in an interview with Sky News on Sunday: "Foreigners can immigrate to Australia by spending money, and most Australians will be dissatisfied with this."
Earlier this month, the federal government held an employment and skills summit in Canberra and announced a sharp increase in the number of permanent immigration quotas to 196,000. But at the same time, the quota for SIV visas has been reduced by about half.
O'Neil said that after a comprehensive review of the immigration system, the SIV visa may be completely abolished, and the review results are expected to be submitted in February next year.
"I don't think this visa can bring value to the country, and we will review it. In my opinion, there is no reason to make it part of our immigration program at the moment."
At the Employment and Skills Summit, the Albanese government agreed to raise the annual immigration quota cap from 160,000 to 196,000 to alleviate the country's labor shortage. The Australian Immigration Agency is also required to process overseas visa applications.
O'Neil also said that the visa system will be simplified, "We will conduct a very extensive review of the system to determine whether this complex visa system can properly manage immigration. I will give you the answer, no."
3AWA radio previously reported that more than 7,000 Chinese citizens immigrated to Australia through SIV visas, and within 10 years of the implementation of the SIV visa program, no applicant was denied because of his failure in the character test.
According to the official website of the Australian Immigration Bureau,
Since the program began on November 24, 2012, 2349 SIV visas have been issued as of June 30, 2020. A$11.745 billion has been invested in compliant investments.
The following table shows the country/region distribution of applicants.
According to the official website data, almost 90% of applicants from 2012 to 2020 came from China (Mainland and Hong Kong).
188C Major Investor Visa is a special immigration visa established by the Australian government to attract applicants who can make great investments in the Australian economy and provide funds for major projects across the country. This project is suitable for high-asset and high-income people. They can obtain rapid immigration by investing 5 million Australian dollars in the areas stipulated by the policy.
Processing cycle: 10-12 months
Identity type: Residence visa
Residence requirements: The main applicant stays for 40 days per year
Project advantages:
Application conditions are relaxed
No need to start a business, no need to work in the enterprise, no age, language, education, and background requirements.
fast approval speed
As a priority immigration application category, the 188C review speed is very fast and can be approved in about a year.
Residence requirements are relaxed
only requires the main applicant to live for 40 days a year. It is the lowest commercial investment immigration category in Australia's " immigration supervision ".
