Brendan O’ Connor, the Prime Minister of Australia declared that a Chinese entrepreneur, a toy manufacturer was the first recipient of Australia’s Significant Investor Visa.
Since it was launched last November 2012, there were more than one hundred seventy applications received for Australia’s significant investor visa. The said visa was launched to entice potential migrants who has a successful history in the field of investment and business that can greatly boost the economy of the country.
Under this scheme, potential investors should invest for a minimum amount of 5 million dollars under the investment and innovation program of the Australian economy.
Brendan O’ Connor announced, that in case all petitions of the applicants would be accepted, it could bring an approximate amount of 850 million dollars to job development projects in Australia.
O’ Connor stated “Australia is in active competition with other countries across our region for successful, high wealth individuals and the capital and business acumen that comes with them.”
“Significant investors bring with them their skills in business, their links to international markets and additional capital for investment in other projects in Australia that interest them.”
Numerous ways by which potential applicants could invest, including state government bonds, Commonwealth, managed funds and directly financing Australian businesses. The federal government will work together with the state government to enable the significant investors visa obtainable to business people and high profile potential investors.