Australia’s “Millionaire Visa” Scheme Expected To Attract Wealthy Chinese

New Program Launches On November 24

Visionnaire Estate Byron Bay

Starting at the end of this month, Australia’s new “Significant Investor Visa” program — which is already being called the “Millionaire Visa” scheme — is aimed at wooing wealthy overseas to invest in the country in exchange for Australian residency. All this for the low, low price of A$5 million (US$5.2 million) — far less than the half-million dollar threshold for the U.S. “EB-5” visa program.

As the Wall Street Journal notes this week, Australia’s program stipulates that the $5 million investment must be made in “state and territory Australian government debt, privately owned Australian companies and managed funds that invest in Australian assets regulated by the Australian Securities & Investment Commission for four years.”

Going on, the Journal notes that consultants expect the new program to be highly popular with wealthy Chinese — many of whom have already sent their children abroad for their education, or who are eager to park more assets overseas.


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