Australia has suspended the acceptance of applications for the "golden visa", as it plans to carry out a comprehensive reform of immigration policy, which will be based on attracting qualified foreigners, reports Bloomberg.
The Golden Visa program allowed wealthy people from other countries to obtain a residence permit in Australia, subject to investments in the economy of more than 5 million Australian dollars (3.3 million US dollars).
Interior Minister Claire O'Neill said that the investment visa is one of the "many aspects" of the migration system that the government plans to change. The new strategy is based on curbing abuse of student visas and more actively attracting qualified migrants to fill growing gaps in the economy.
From June 2022 to June 2023, Australia experienced an exceptionally high level of immigration: more than 500,000 people entered the country during the year.
