Exploiting of Business Investment stream might result in significant changes


Exploiting of Business Investment stream might result in significant changes

The lengthy immigration queues can be excluded by applying for the exclusive investment visa for the foreigners which is whopping $11 billion into the economy.

A large number of the applications are knocked back for various reasons such as; not having enough evidence to show how they obtained their money, to transfer such a significant amount internationally, involved in unacceptable activities and so on.

Around 2000 migrants have been successes in obtaining the Significant Investment Visa (SIV) through fast track and 705 investors on a slow track. This fast track has resulted to inject $9.87 whereas slow track in $1057 billion into the economy.

More than 6000 family members of the primary applicants have come to Australia in last five years as per the Department of Home Affairs data.

Productivity Commission had recommended in 2016 to abolish the Significant Investor Visa and Productivity Investor visa. Austrac has raised concerns about the SIV and the difficulty in determining if applicants’ money was legally obtained.

However, as per the Australia China Entrepreneurs Club Chairman Richard Yuan, it’s been great for the country economically, and we need funds, and it’s a good time to have the discussion.

He said, anecdotally, about half of the investors who had been granted visas had lost money through Australian investments that weren’t properly managed.

Liberal MP Jason Wood, Chair of the government Joint Standing Committee on Migration states that “ I’m all for streamlining and fast-tracking visas for people who create businesses and jobs for Australians. To me, it’s bringing money into the country. If we don’t do it, other countries will do it. If we’re taking so many people in humanitarian visas, this is a fair and sensible way of balancing that out.”

However, the Labor’s Immigration Spokesman Shayne Neumann has accused Home Affairs Peter Dutton of ignoring the real problems in Australia.

Meanwhile, a handful of Coalition MPs have backed Liberal Senator Dean Smith’s calls for a year-long inquiry into Australia’s population and immigration levels, including Mr Wood and former Prime Minister Tony Abbott.

The lengthy immigration queues can be excluded by applying for the exclusive investment visa for the foreigners which is whopping $11 billion into the economy.

A large number of the applications are knocked back for various reasons such as; not having enough evidence to show how they obtained their money, to transfer such a significant amount internationally, involved in unacceptable activities and so on.

Around 2000 migrants have been successes in obtaining the Significant Investment Visa (SIV) through fast track and 705 investors on a slow track. This fast track has resulted to inject $9.87 whereas slow track in $1057 billion into the economy.

More than 6000 family members of the primary applicants have come to Australia in last five years as per the Department of Home Affairs data.

Productivity Commission had recommended in 2016 to abolish the Significant Investor Visa and Productivity Investor visa. Austrac has raised concerns about the SIV and the difficulty in determining if applicants’ money was legally obtained.

However, as per the Australia China Entrepreneurs Club Chairman Richard Yuan, it’s been great for the country economically, and we need funds, and it’s a good time to have the discussion.

He said, anecdotally, about half of the investors who had been granted visas had lost money through Australian investments that weren’t properly managed.

Liberal MP Jason Wood, Chair of the government Joint Standing Committee on Migration states that “ I’m all for streamlining and fast-tracking visas for people who create businesses and jobs for Australians. To me, it’s bringing money into the country. If we don’t do it, other countries will do it. If we’re taking so many people in humanitarian visas, this is a fair and sensible way of balancing that out.”

However, the Labor’s Immigration Spokesman Shayne Neumann has accused Home Affairs Peter Dutton of ignoring the real problems in Australia.

Meanwhile, a handful of Coalition MPs have backed Liberal Senator Dean Smith’s calls for a year-long inquiry into Australia’s population and immigration levels, including Mr Wood and former Prime Minister Tony Abbott.