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July 14, 2015 10:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QjyGl6W3Hbk/rich-and-american-australia-wants-you
Rich and American? Australia Wants You
An anonymous reader writes: Following the success of a millionaire visa program to attract wealthy Chinese, Australia has launched an invite-only visa program that promises citizenship to rich American entrepreneurs. To meet the requirements of the Premium Investment Visa plan Americans must first invest around 15 million Australian dollars. Reuters reports: "Investment advisors who have been briefed on the plan by government officials expressed doubts about the wisdom of targeting Americans, with several telling Reuters the more obvious place to start was Australia's Asian neighbors. After all, why would a successful U.S. entrepreneur want to invest a large chunk of cash in Australia — a country very similar to the United States, just further away from everything — in exchange for a passport that carries few additional benefits to their own? 'The U.S. has some problems that Australia doesn't have. It's got a lot more racial crimes, it's got a lot more gun-related crimes, but I don't think that is going to drive a whole bunch of ultra-rich Americans out of their country,' said Bill Fuggle, a partner at law firm Baker & McKenzie who advises wealthy Chinese migrating to Australia."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QjyGl6W3Hbk/rich-and-american-australia-wants-you
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