Australia: New visa rules for wealthy people
The Government introduced from 1 July 2012 significant investor visa which target migrants who can make an investment of at least 5 million Australian dollars (US$4.87 million) in the Australian economy.
In return for investing in state and territory bonds, managed funds, or directly into Australian companies, investors will be offered concessions on the usual visa requirements.
“The significant investor visa will provide a boost to our economy and help Australia to compete effectively for high net worth individuals seeking investment immigration,” Immigration Minister Chris Bowen said.
The changes bring Australia into line with the U.K., Canada, Singapore and New Zealand, which already allow migration on the basis of investment.
Any Evidence-Based Deliberation:
|Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations?|
|Is there any evidence that alternatives to the proposed measure were considered?|
|Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government?|
|Was such evidence identified?|
|Is such evidence publicly available?|
|Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives?|
|Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken?|
|Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory?|
|Did the government state its intention to review the measure within one year of implementation?|
Date of inception: 1 Jul 2012
GTA Evaluation: Green
Australia Targets Millionaires, Innovators With New Visas