ANNOUNCEMENT 01 Jul 2012

In July 2012, the government of Australia announced a change for the labour market access of foreign workers.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 01 Jul 2012 | Removal date: open ended
Still in force

Labour market access

In July 2012, the government of Australia introduced new preferences in the visa permission process for significant investors. 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.
This migration measure of the Australian government is most likely to benefit investors with the biggest foreign direct investments (FDI) share in the country (UK, USA, Singapore, Japan, China, the Netherlands), who operate the following main sectors: mining (32% of the total FDI), energy (oil and gas), retail, manufacturing and the financial sector.
 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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