Australia abolishes the "golden visa" scheme for the rich

Australia has abolished the scheme of so-called "golden visas", which have enabled wealthy investors to live in this country.

Although intended to attract foreign investment, government officials have recently found that the scheme has produced "poor economic results".

Critics have long argued that the scheme was used by "corrupt officials" to keep ill-gotten gains.

This scheme will now be replaced by a visa program for skilled workers.

Thousands of visas have been granted under the wealthy program since 2012, and almost 85 percent of successful applications have been from China, according to government data.

The scheme provided that the candidates who won this visa had to invest in Australia 3.3 million US dollars.

The United Kingdom has also acted in the same way in 2022, ending the schemes that allow the rich to ease the procedures for residence, after concerns about the circulation of dirty Russian money in its territory./ REL

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