According to The AfrAsia Bank: Global Wealth Migration Review[1], Australia is the millionaires’ migration destination of choice for the third year running. Wealthy individuals are lured by the country’s proximity to Asia, safety and stable economy. Australia is under the top 10 wealthiest countries in the world.
2017–18 Australia Migration Program Report (Program year to 30 June 2018) reports that the total permanent migration program outcome for 2017–18 was 162,417 places. The visa awards were in the following categories: Skill stream – 111,099 places; Family stream – 47,732 places; Special Eligibility stream – 236 places; and Child visas – 3,350 places.
The Skill Stream receives the majority of the permanent migration visas (111,099 places) which equates to 68.4 per cent of the total permanent Migration Program.
Karen Kotze, a migration agent in Australia says, …”the enquiries from South Africa is ongoing. We receive 2-10 enquiries every day from potential migrants”. She states that in February 2018 they received over 500 enquiries in a 60 day period. Problematic is persons that many of the persons do not qualify, due to age or experience and qualifications.
Two prominent facebook groups namely SAMTA and Aussiekaners forums for South African migrants also shows a constant inflow of members and enquiries. In the last 28 days, Aussiekaners grew its members with 1600 with a total membership of 45,224. This forum is active having 74,800 comments and reactions the past month.
Jannie Kotze, a Migration Lawyer advising potential Business and Investment migrants says that Australia remains a top destiny for South African Business and Investment migrants. “South African Investors and Business migrants are in the top 5 of nationalities that are awarded visas under this program….” Kotze says.
Australia runs a dedicated program for Business persons. Of this Business Innovation and Investment Program (BIIP) filled 7260 places was filled. This means thatmore than 7,000 high-net-worth individuals, with a personal wealth of AUS$800,000.00 or more, migrated to Australia in 2017 – mostly from China, India and the UK.
These figures show, delivering a multibillion-dollar investment boost as Australia becomes the destination of choice for thousands of the world’s wealthiest individuals.
The AfrAsia report made an additional finding by stating… “Australia’s high total wealth ranking is impressive when considering it only has 22 million people living there….”
The demand for places in the BIIP category increased by 5.8 per cent in 2017–18, with 16,816 applications made compared to 15,888 applications made in 2016–17. The BIIP pipeline increased over the 2017–18 program year by 25.5 per cent (3800 applicants) from 14,882 applicants as at 30 June 2017 to 18,682 applicants as at 30 June 2018.
Other reasons why Australia is a migrants choice includes aspect such as;
- Quality Education – The Australian education system is one of the best in the world. Over 1,200 institutions with approximately 22,000 course options.
- Climate throughout Australia you get relatively pleasant with mild winters and warm summers.
- Career Opportunities – Rapid economic growth has created many unfilled job opportunities in Australia. Industries are growing, which also means there’s more potential to obtain employment and earn a higher salary.
- Reliable Healthcare –The country has one of the best systems anywhere in the world. All citizens are covered in public hospitals.
Suffolk-Law and Visa is a boutique law firm and migration agent located in Perth, Western Australia. We offer high quality advice and represent a diverse range of individual and corporate clients. Our team of lawyers specialise in areas of Immigration, Business, Commercial and Family Law. (MARN 1277169)
www.suffolk-law.com.au
www.suffolk-visa.com.au
Contact; [email protected]
[1]https://www.afrasiabank.com/media/2915/gwmr-2018.pdf
