Impact of Australia Immigration Overhaul on 'Golden Visa' Applicants

Impact Of Australia Immigration Overhaul On 'Golden Visa' Applicants

By: Aisha

The Australia Golden Visa (Significant Investor Visa) allowed an individual to go to the nation and live in the country for significant investments. The scheme was launched in 2012, allowing high-net-worth individuals (HNWI) to do Australia immigration. But as per the latest updates, the government has scrapped the Australia Golden Visa program for certain reasons.

To know more, the applicants and the desired individuals should go through the article.

What was the Australian Golden Visa?

The Australia Golden Visa allowed a high-net-worth individual (HNWI) to go to the country under investment terms. This allowed the individual to stay in the country for up to 5 years with an investment requirement of 5 million Canadian dollars or more. Out of which, 60 percent of the money could be invested in Australian non-residential properties, corporate bonds, and shares. This program was designed to attract foreign investors and businessmen, which will lead to the economic growth of the country.

What were the Key Highlights of the Golden Ticket?

People were attracted to the Australia Golden Visa scheme because of the numerous benefits it offered, of which we have shared some of the key highlights:
  • The visa allows a person to do Australia immigration and stay in the country for 5 years.
  • After the tenure, they might also be allowed to apply for permanent residency in Australia.
  • The applicant was given the freedom to choose the sector they wanted to invest in.
  • They were granted access to the top-class education system and health care in Australia.
  • Major tax benefits
  • Holders were allowed to visit several countries other than Australia because of the golden visa.
  • They didn't need to learn the English language or take the IELTS test.
Also Read: Understanding The Latest Changes In Australia’s Visa Policies

But all of these benefits were cut down by the government in 2024.

Impact of the Australian Golden Visa Programme

As of January 2024, the Australia Golden Visa was axed by the Australian Home Affairs Ministry, as the results did not meet expectations and for other reasons:
  • According to the data, Australia immigration was one-sided. it was highly one-sided by the wealthy individuals of China (85 percent).
  • The scheme failed to meet the main objective of the government.
  • Clancy Moore, the chief executive of Transparency International Australia, told ''For far too long, corrupt officials and kleptocrats have used golden visas as a vehicle to park their illicit funds in Australia and arguably hide their proceeds from crime."
  • Critics also said that there was also some significant money laundering happening.
  • The applicants used this visa mainly for residency not for the business.
Because of these points, the ministry paused the golden visa scheme and put a major focus on the skilled worker program visa.


In conclusion, the Australia Golden Visa was very beneficial for the investors but not for the nation, because of this the golden visa scheme was ceased for Australia Immigration. However, the candidates shouldn’t worry about this because there are several other visa programs that the country offers. If you want to get further details on these visa types, connect with us.