SYDNEY - Australia is seeing an increase in interest in its millionaires-only visa programme from wealthy Hong Kong residents who are eyeing a safety net amid political turmoil in the Chinese-ruled territory, migration lawyers told Reuters.
Mr Bill Fuggle, Sydney-based partner at law firm Baker & McKenzie, said there had been a rise in applicants for the SIV programme. The unrest has been fuelled by broader worries about what many say has been an erosion of freedoms guaranteed under the"one country, two systems" formula put in place when Hong Kong returned to China in 1997.
The SIV programme used to be hugely popular with people from China, though recent strict investment requirements have somewhat dented its appeal. Data on applications received or visas granted in recent months was not available, as Australia publishes these figures only annually.
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Australia sees rush of Hong Kong millionaires amid unrest[SYDNEY] Australia is seeing an increase in interest in its millionaires-only visa programme from wealthy Hong Kong residents who are eyeing a safety net amid political turmoil in the Chinese-ruled territory, migration lawyers told Reuters. Read more at The Business Times.
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