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Australian Government to fast-track investor visas

Posted on November  25 , 2013

The Australian government, under Tony Abbott wants to make it faster and easier for investors to get special investor visas for Australia.

Australia’s Immigration Minister Scott Morrison said there were 400 applicants with $5 million to invest under the Significant Investor scheme but there was a 9-month waiting period. He intended to cut down this waiting time to prevent foreign investors investing elsewhere.

So far, 28 visas under subclass 888 have been approved, including 15 in Victoria, nine in NSW and two each in Queensland and Western Australia.

However, the scheme has been criticised by others, especially those organisations that help bring medical professionals to Australia.  Rod Jackson, chief executive of the Rural Workforce Agency of Victoria, said everyone should face the same entrance tests and that there was a shortage of doctors, nurses and other specialists that needed to be addressed.