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Australian Government Considers Abolishing Immigration Program for Wealthy Foreigners

Australian Government Considers Abolishing Immigration Program for Wealthy Foreigners
Minister for Home Affairs Clare O’Neil during the Jobs and Skills Summit in Canberra, Australia, on Sept. 2, 2022. AAP Image/Mick Tsikas
Alfred Bui
|Updated:

The Australian government is considering scrapping an immigration program for international investors with high net worth as it reviews the country’s migration system.

Under the significant investor visa (SIV), foreign investors can considerably shorten their visa processing time with a minimum investment of $5 million (US$3.4 million).
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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