This news highlights that Australia has temporarily stopped accepting applications for its “Golden Visa” program, formally known as the Significant Investor Visa. This visa allows individuals to invest a significant amount (over A$5 million or $3.3 million) in the country and, in return, provides a pathway for them to migrate. The pause in applications is part of a larger effort by the Australian government to overhaul its immigration policy, with a specific focus on attracting more skilled migrants.
The Home Affairs Minister, Clare O’Neil, emphasized that the “Golden Visa” program is just one aspect of many within Australia’s migration system that is undergoing changes. The goal is to create a more effective and beneficial system for the country. The temporary halt in the visa program suggests a reevaluation and potential restructuring of the criteria or conditions associated with the “Golden Visa” as part of broader immigration reforms in Australia.
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