Wealthy Chinese are throwing money wildly, Australia's Victoria province is only for green cards
In the past two years, wealthy Chinese investors have invested more than 21 billion yuan in real estate, companies and stocks in Australia in order to quickly obtain residence visas. Victoria has attracted the most Chinese funds.
At least 436 wealthy individuals from mainland China, as well as a number of high-net-worth individuals from Hong Kong, South Africa, Japan, and Malaysia, pledged to each invest at least 500 million yuan in the Australian economic sector in exchange for new large investor visas ( Significant Investment Visa).
More than half of them-221 people-now regard Victoria as their hometown, and the Victorian government has issued an invitation to "come here to invest" to another 825 wealthy people.
Wealthy foreigners seeking to move to Australia immediately can invest in real estate management funds, bonds or Australian companies. After four years, they can apply for a permanent resident visa in Australia.
There is also a long list of overseas high-net-worth business people eager to live in Australia with 28 billion yuan of "full sincerity" waiting in line for the visa processing results.
According to the requirements of the large investor visa, all foreign investors applying for an Australian residence visa must obtain a guarantee from the corresponding state government.
A source from the Federal Department of Immigration said that the Victorian government has become the biggest supporter of the large investor visa program and the state government sees it as an opportunity to increase investment.
In contrast, NSW has attracted 162 large investors and is considering visa applications for another 464 invited investors.
To prevent corruption, the Large Investor Visa Program requires applicants to state their source of wealth. Many applicants were turned away because they were unable to explain or were unwilling to explain, but the specific number was not disclosed.
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