The Abbott government wants to make the “special investor visa” easier for rich immigrants to invest in Australia. The Immigration Minister said he wanted to cut the waiting period fearing that investors would take their money back and invest elsewhere.
Among all the applications for the said Australian visa, 28 have been granted including 15 in approved visas in Victoria, 9 in New South Wales, 2 each for Queensland and Western Australia. The visa scheme, though, has generated concerns among societies and organisations regarding medical professionals being brought to Australia.
The first businessman to receive the subclass 888 or investor visa scheme was a Chinese toy maker that invested $5 million dollars in Victoria.