

Australia has rolled out a visa program capable of granting permanent residency to anyone willing to invest the humble sum of 26.5 million yuan (5 million Australian dollars) into an Australian company. So far, 91% of the applicants have been from mainland China.

The program started in November, and so far 65 Chinese citizens have been granted residency. The government has made the regulations as lax as one could imagine, and getting a “significant investor” visa is easy as pie. A 26.5 million yuan pie. CNN reports:

There is no language requirement, upper age limit and applicants do not even have to set up a business in Australia. […]

Under the scheme, visa holders can keep their operations running in China if they wish. It’s hoped that the move will attract a greater range of immigrants to Australia. […]

Immigration has been a politically charged and emotive subject in Australia, where the conservative Liberal Party won election last year partly on a platform of promising tougher policing of the country’s immigration laws. Australia turns away thousands of refugees and asylum seekers but at the same time is suffering a skills and manpower shortage for manual jobs.

“Tougher immigration laws” of course refer to the immigration of people who probably aren’t even millionaires. For the occasional non-wealthy applicant (there must be a few here and there) they are surely met with a comparably generous and easy policy.

[Image via Wikipedia]



Follow @shanghaiist



