Australia visa: Why the country decided to end “golden visas” for the wealthy

Australia visa: Why the country decided to end “golden visas” for the wealthy
Illustrative image,

The “Golden Visa” was originally designed to attract foreign investment

  • author, Hannah Ritchie
  • scroll, From BBC News in Sydney

Australia has decided to end the so-called “golden visa”, which guaranteed rich foreign investors the right to live in the country.

It was intended to attract foreign business, but was scaled back in immigration reforms after the government found it brought “poor economic results.”

Critics of the feature have long argued that the scheme was being used by “corrupt people” to hide money from illicit sources.

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