This is taken from a SBS page. Nice feel good article
What is luring China's wealthy to invest in Australia - and what does it mean for the national economy?
By Primrose Riordan
What is luring China's wealthy to invest in Australia - and what does it mean for the national economy?
By Primrose Riordan
Nine out of 10 applicants for the new special investment visas are Chinese
The Australian special investor visa program is gaining steam after a slow start in 2012. Analysts say 65, mostly Chinese, millionaires have brought over $440 million into the country so far.
The scheme - auspiciously dubbed sub-class 188 – fast tracks visas for those ready to invest over five million dollars into Australia. This is a whopping 26.5 million yuan. The cash needs to go into state government bonds, specific infrastructure and property investments. So far it’s mostly filled Victoria and NSW coffers.
After four years on a residency visa investors can add another lucky eight, convert to a subclass 888 visa and get an Australian passport. By the end of 2013, 601 people had applied and 65 visas had been granted according to the Australian Department of Immigration and Border Protection.
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