After entering Bailu season, the weather gradually turns cooler, and I always feel that there is an unstoppable "cold" atmosphere, so the ancients said that "a turbulent autumn". Recently, the same is true for the immigration industry. Many countries have raised immigration thresholds or closed immigration policies. It can be said that there are waves everywhere, making people feel chill.
Greece: Golden visa doubled, soaring to 500,000 euros
Recently, Greek Prime Minister Mitsotakis announced at the 86th Sao Expo that the investment threshold for Greek golden visas will increase from 250,000 euros to 500,000 euros , thereby increasing the number of available real estate for Greeks.
Greece Golden visa has been launched in 2013, has been favored by investors from all over the world, especially Chinese investors, because of its advantages such as simple conditions, quick processing, and high cost-effectiveness. According to data released by the Greek Immigration Bureau, as of December 31, 2021, Greece has issued a total of 28,767 golden visas to 9,610 investor families. Among them, 19,412 golden visas were issued to 6,405 Chinese investors, the largest number of visas issued among all countries, accounting for as high as 67.5%. So, why do such a popular and excellent project change at any time?
In fact, Greece's golden visa policy has been implemented for nearly 9 years. A public policy has been implemented continuously and stably for so long. It is very difficult to go through the rule of Greece's two political parties, center left and center right. However, any policy of is cyclical , and immigration policies are no exception. When the Golden Visa Policy was introduced, Greece was facing a severe debt crisis and urgently needed to attract overseas funds to relieve the difficulties. Therefore, the policy of buying a house and obtaining identity was in line with the needs of economic development at that time.
And one time and another, Greece has long recovered from a low point, and its economic performance is remarkable. Official Greek data shows that this year, Greece's GDP growth rose from the initial estimate of 3.1% to 5.3% , with a very rapid growth rate, and its economic growth rate is far above the European average. In the first quarter of this year, foreign investment flowing into the Greek real estate market reached 374 million euros, a sharp increase of 74.8%. Without so short of money, the government's desire for foreign investment is no longer as urgent as it was back then.
From the perspective of the general environment, since this year, EU has been urging member states to conduct strict inspections on the "Golden Visa" project, requiring applicants to provide certificates of legal source of home purchase funds, proof of no crime , etc. Under the strict control of the EU, low-threshold projects such as Greece Golden Visa that have no asset requirements, no funding source requirements, and no back-regulation requirements are under extremely huge pressure. Therefore, it is reasonable to adjust the immigration policy appropriately.
Australia: 188C major investor immigration visa may be cancelled
September 11, Australian Federal Home Minister Clare O'Neil made it clear that the major investor immigration visa (188C) targeting overseas wealthy people may be abolished . The federal government is currently conducting a comprehensive assessment of this visa.
188C visa is designed to attract high-net-worth individuals who invest at least 5 million Australian dollars in qualified projects in Australia. has no restrictions on language, age, scoring, business experience and investment experience. If you live in Australia, you can get a green card after 3 years. For many customers who exceed their age requirements, cannot meet the scores of commercial immigration, and do not have enough business management experience, the "lucky" 188C visa is the most ideal shortcut to immigration to Australia.
Australia Immigration Bureau data shows that as of now, the Australian government has approved 2,349 applicants to obtain such visas, bringing more than 11 billion Australian dollars in investment to Australia, and more than 90% are Chinese applicants. Although the visa has brought considerable investment to Australia, the Australian Home Minister bluntly stated, "I don't think this visa program will bring more value to the country, which is something we will consider. At present, we don't have enough reason to continue to retain it.”
Australian think tank Graton Institute quoted statistics from the Australian Ministry of Finance in a report last year that people with such business visas are often over 45 years old, have shorter years of working before retirement and shorter tax periods, and spending more on public services in their lifetime than the tax they pay. Not only that, these people have a slightly lower English level, which makes it difficult for them to play a meaningful management role in growth companies. Overall, they can do so for Australia. The contribution of economic development in the continent is very limited.
Canada: Ontario Ontario
For a long time, "no IELTS score required" has been a major selling point of employer guarantee projects in Ontario, Canada. However, this popular immigration program that has attracted countless Chinese applicants has also ushered in a change of government. On September 6, the Ontario government issued the number 22-MLTSD 012's provincial nomination project amendment proposal.
According to the amendment proposal, in the Employer Job Offer employer guarantee category, the overseas technical workers category will be added, and the IELTS will reach CLB5, that is, listening, speaking, reading, writing, 5/5/4/5 Points. Meaning that the only project that nominated employers in the province to guarantee that there is no language mandatory requirement will no longer exist. This latest requirement will inevitably block a large number of potential immigrants with poor English skills.
Ontario said that this move is to help foreign employees better integrate. At present, the amendment proposal issued by the Ontario Nomination Office is still in the stage of extensive soliciting opinions. Before September 30, 2022, people can contact the Ontario Nomination Office to make opinions and suggestions on this amendment.
is still a good choice for applicants with corresponding language skills. Ontario is Canada's well-deserved economic and population province, with 41% of the national GDP and the country 38% of the total population is concentrated here. Especially for friends who regard children's education as the primary consideration, Ontario has nearly 70% of Canada's higher education resources. In addition, 48% of the total 640,000 international students in Canada also choose to study in Ontario , and 35-40% of the total number of new immigrants entering Canada each year also choose to settle down in Ontario.
Immigration policy is collectively tightened, and I want to "move" as soon as possible
Since this year, immigration policies in various countries have shown a collective tightening trend, either suspended or increased, which has made many hesitant investors regret it:
UK: On February 17 this year, it announced the termination of 2 million pounds Tier 1 Invest in immigration visas and immediately stop accepting all applications.
Portugal: Starting from January 1 this year, the investment threshold has been raised overall. On the one hand, investors will no longer be able to purchase residential real estate in areas with high population density such as Lisbon , Porto , Algarve to apply for a golden visa. On the other hand, the fund purchase threshold has also been raised from 350,000 euros to 500,000 euros.
Turkey : Starting from June 13, the threshold for buying a house in the Turkish passport project has increased from US$250,000 to US$400,000.
United States: On March 9 this year, the US EB-5 Investment Immigration Regional Center plan was officially restarted, and the minimum investment amount of the target employment area (TEA area) increased from 500,000 to 800,000 US dollars, and the minimum investment amount of the non-target employment area (non-TEA area) increased to 1.05 million US dollars.
Singapore : Since April 18 this year, the threshold for Singapore family offices has doubled from SGD 5 million to SGD 10 million, and the asset scale is required to reach SGD 20 million within two years.
New Zealand : In July this year, the investment amounts of Class I and Class II in New Zealand also increased from the previous $10 million and $3 million to $15 million and $5 million respectively.
It is not difficult to see that at a time when policies are unpredictable, immigration is really "moving early but not too late". Policy does not wait for anyone. If there is no opportunity, it will be gone. Friends who are still waiting and watching must seize the opportunity and prepare as soon as possible to avoid encountering a change in the government and failing the dream that could have been realized.
Before the official price increase of the Greek Golden Visa and the cancellation of the Australian 188C visa, there is still a transition period of several months. Friends who want to apply for the status of these countries simply and quickly, please be sure to hurry up and take the last bus of the old government at ! If you want to know more, please consult overseas overseas experts.
