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21/02/2025
In defence of Australia’s ‘golden ticket’ visa scheme (c) Peter van Vliet CEO of the Migration Institute of Australia
The great majority of Significant Investor Visa holders are just very good business people with money to invest in Australia to help create innovative businesses and jobs.
The Significant Investor Visa required visa holders to invest a minimum of $5 million in the economy. In the 10 years of its operation since its implementation by Labor the visa brought in up to $40 billion in additional capital into Australia, including the required $15 billion in complying investments and further additional investments by visa holders.
Innovative projects funded by the former visa include the “HotDoc”
medical appointments application used daily by about 8 million active patients and 21,000 doctors to deliver healthcare services.
The company Carbon Revolution, which manufactures carbon fibre wheels in Geelong, Victoria, and employs 650 people, was partly funded by the Significant Investor Visa program in partnership with the Victorian government.
Another company assisted by the Significant Investor Visa is Morse Micro, which employs 122 staff, developing Wi-Fi chips in Sydney. Other successful services companies assisted by this visa include CitrusAd, Liquid Instruments, and Paisley Park.
Australia has some of the best visa-vetting programs in the world and our national security agencies all play a role in ensuring visa applicants are of the highest standard.
The great majority of significant investor visa holders are just very good business people with money to invest in Australia to help create innovative businesses and jobs.
It’s not just the government that conducts checks on Significant Investment Visa holders, Australian financial institutions also conduct further know your-customer and anti-money laundering checks after the funds have arrived. Visa holders can have their visas cancelled and be returned to their country of origin if any criminality subsequently emerges.