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Show me the money.
Australia is accused of cracking down on poor immigrants whilst opening its arms to wealthy ones says the USA Today.
Countries around the world are lining up to attract the wealthy Chinese.
The USA Today reports that more than half of all Chinese multimillionaires have either left or plan to emigrate from China. It is apparently becoming a competitive business as more global suitors try and entice the wealthy Chinese, with speedy processing and relatively lenient criteria so long as the applicants can show them the money.
It’s no secret that the significant investor visa with its ‘888’ labelling was aimed at the Chinese. And it has hit the target. Chinese nationals now account for over 90% of the 545 applications.
DIBP has apparently already granted 65 of the visas to mainland Chinese, who have pumped A$325 million (US$289 million) into economy.
The target is to attract 700 immigrants and investments of $3.5 billion a year.
Australia is however just one of many in the hunt for Chinese wealth. The U.S., U.K., Spain, Portugal, the Caymans and Gambia have all gotten into pay-for-visa programs for wealthy Chinese.
The USA Today reports, “Though such efforts have been championed by economic development officials, critics say they don't create jobs and amount to a golden immigration ticket that allows the rich to quickly purchase documentation that would otherwise be impossible or too time consuming to secure.”
Comments
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Monday, 10 February 2014
Note that the report refers to unnamed 'critics': http://www.usatoday.com/story/money/business/2014/02/09/china-millionaires-leave-country/5228219/
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Tuesday, 11 February 2014USA Today is a newspaper, it is not an advocate for US interests or any identifiable interests. One should not expect newspapers to be hometown barrackers. John Findley
Immigration blog
Why would USA Today accuse Australia of cracking down on poor immigrants when they state that The U.S., U.K., Spain, Portugal, the Caymans and Gambia have all gotten into pay-for-visa programs for wealthy Chinese.
In that case, USA Today must be accusing the US of doing the same.
Is there a link to the article?