Australia has ended its golden visa program. They were granted for investments in the country’s economy worth 3.3 million dollars, but the authorities realized that this program did not meet its goal: to attract qualified specialists.
Australian authorities have ended the golden visa program. Bloomberg writes about this in reference to Australian Foreign Minister Claire O’Neill.
“This visa does not provide the country with what we need from the immigration system,” the official said.
Australia issued so-called golden visas for investments in the country’s economy worth $3.3 million. According to the minister, the program was mainly used by older people to live in the country during their retirement.
In August 2023, Italy ended the golden visa program for Russians. The country decided to stop issuing visas to Russians on the recommendation of the European Union.
Indonesia launched the Golden Visa program in September 2023. Individual investors must contribute $350,000 in bonds, stocks or a deposit to obtain a 5-year visa and $700,000 for a 10-year visa.
Author:
Kirill Bilyk
Source: RB
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