Australia Sees Rush of Hong Kong Millionaires
|08/22/2019||Posted by BusinessMediaguide.Com under General World News||
Australia is seeing an increase in interest in its millionaires-only visa program from wealthy Hong Kong residents who are eyeing a safety net amid political turmoil in the Chinese-ruled territory, migration lawyers told Reuters.
The New South Wales state migration department “has noticed a significant increase in applications” from Hong Kong in recent months, it said in a letter to agents this week, and seen by Reuters.
The interest has coincided with the “beginning of the current unrest in Hong Kong,” the department said, referring to a A$5 million ($3.4 million) Significant Investor Visa (SIV) program that provides direct residency to applicants.