Australia has terminated its ‘golden visa’ program, designed to attract wealthy foreign investors. The scheme, in place since 2012, allowed investors to live in Australia after investing over A$5m.
The government cited poor economic outcomes and concerns about corruption and money laundering as reasons for its discontinuation.
The move aligns with a broader immigration overhaul, replacing the program with visas for skilled migrants. Critics argue that the scheme had been exploited by corrupt officials. Similar programs have faced scrutiny in the UK and Malta in recent years.”
