Australia Tops Global List for Millionaire Migrants

There is an old saying; When in Rome, do as the Romans do. While America has previously been the leading destination for millionaires and budding entrepreneurs alike, Australia has recently overtaken the US as the preferred home for the migrating wealthy.

In just over four years, Australia has attracted 35,000 new residents worth upwards of a million dollars, including several billionaires. In 2018 alone, Australia approved 12,000 special category visas for people with a very high net worth. When you consider that Canada approved 4,000 visas for people with a high net worth, it becomes apparent that Australia is making a special effort to have millionaire migrants choose Australia home over other developed nations.

Previously, the most popular route for wealthy individuals migrating to Australia was though the Business Visa stream. This was a long and arduous process for many and likely resulted in certain individuals moving elsewhere. The Special Category Visa for people with a high net worth was designed specifically to attract new wealth to Australia in the hope that those people would put their money to work in Australia which would go on to help grow the economy. While it is still a difficult visa to attain, this Special Category Visa is a lot easier to apply for than your typical Business Visa.

Just like your preferred Accountant or Lawyer, ASC Migration will look to become your preferred Migration Law Specialist and make your migration journey as easy and stress free as possible so you can focus on whatever is the most important thing to you. We’ll prepare an application for you that has the best possible chance of approval and guarantee never to apply for a visa on your behalf unless we’re confident of that approval.

To find out more about how we can help, contact us today.

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