Australia has paused applications for individuals who invest more than A$5 million ($3.3 million) into the country as part of a broader immigration policy overhaul designed to entice more skilled migrants.
All applications for the Significant Investor or “Golden Visa” programme have been halted. Home affairs minister Clare O’Neil said the visa was one of “many aspects” of Australia’s migration system that government plans to change in order “to create a system which delivers for our country.” Investor visas similar to Australia’s have faced criticism worldwide amid allegations that they have failed to benefit the countries themselves.