Hong Kong Residents Take Interest in Australia's Migration Program

Australia is not considered a particularly friendly country for migrants. And the requirements here are quite stringent even for obtaining a visa, not to mention obtaining resident status. However, now the Australian authorities are preparing for the influx of new residents from Hong Kong, who intend to obtain the residence permit through investment in the local economy.

According to Australian laws, in order to obtain a residence permit, it is necessary to invest from $AU 5 million in local startups, which is equivalent to $ 3.4 million. Until 2019, to issue permits in Australia, it was necessary to invest the entire specified amount in real estate. Under the new rules, up to 60% of this amount can be invested in real estate, and a non-resident is required to invest another 40% in venture capital funds operating in the state.

In the state of New South Wales, they have already sent notifications to migration agents about a significant increase in applications from Hong Kong citizens, although the number of issued residence permits has not yet increased.

The main reason for the possible influx of people into Australia from Hong Kong was the decision to extradite Hong Kong residents to China if criminal cases were instituted against them. The bill provoked protests in which more than a million residents of sovereign territory took part. The situation remains extremely tense, so the prosperous part of the population of Hong Kong is already looking for migration options.

If you are also interested in obtaining a residence permit, and subsequently Australian citizenship through investment, Law&Trust offers its services. Our professionals will tell you about the rules for obtaining permits, help you choose a venture capital fund for investments and purchase housing in the country. We also offer document preparation services and represent your interests in Australian government bodies.