Under the Cover of Covid 15,000 Wealthy Foreigners given Australian Visas! | COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT!

https://caanhousinginequalitywithaussieslockedout.com/2021/08/02/under-the-cover-of-covid-15000-wealthy-foreigners-given-australian-visas/

DURING the Pandemic 15,000 wealthy foreigners have been given Australian Visas!

WE did tell you so!

Martin North, principal of property research firm Digital Finance Analytics, also notes ‘there’s been a swing away from foreigners looking to invest to people wanting to move here.’ And that they are more interested in buying land and larger properties!

Overseas Buyers are tipped to Return!

https://www.abc.net.au/news/2021-07-02/chinese-overseas-buyers-australia-property-housing-investors/100259470

Little-known property investor quietly secures $32m housing parcel in Vaucluse

https://www.domain.com.au/news/ying-yu-sister-in-law-of-wilson-shoe-king-xue-buys-8m-house-as-part-of-32m-vaucluse-consolidation-1073532/

MEANWHILE tens of thousands of Australians remain stranded overseas!

This latest report:

https://www.abc.net.au/news/2021-07-28/australians-want-to-flee-coronavirus-hit-indonesia/100323264

IS this not the ultimate betrayal by the Morrison Government through its business innovation and investment visa programme?

Under these visas:

Business Innovation Stream applicants can buy or start a business, and have $1.25M in either business or personal assets

Investor stream, applicants have to be recommended by a state or territory agency and invest $2.5M on authorised investments

Significant investor stream, applicants must invest $5M, with a minumum $1M in venture capital or private equity

In September 2016 in its final report the Productivity Commission called for these visas to be scrapped because they are channels for money laundering!

WHY hasn’t there been a response from the Morrison Government to a public inquiry into “Migrant intake into Australia”?

https://www.pc.gov.au/inquiries/completed/migrant-intake#report

With the ‘Significant Investor and Premium Investor Visas’

no English language requirements

no upper age limits

-a risk they might be an avenue for ‘dirty money’

Most business and investment immigrants are often older, buy retail and hospitality businesses, so how can this add to Australia’s innovative and entrepreneurial capacity?

View this AFR report about migration agents enabling Chinese investors to gain Significant Investment Visas!

https://www.afr.com/companies/financial-services/vc-funds-concoct-fraudulent-visas-for-wealthy-chinese-investors-20200729-p55gii

HOW can this be of any benefit to the Australian people and our Nation with more competition to buy our businesses from overseas with ‘black money’?

AND even more competition for a limited supply of housing, and inadequate infrastructure as these VISAS allow ‘Permanent Residency,’ and the benefits of parking ‘their family’ in Australia as they can continue to run their business in another country?

These families have access to our MEDICARE, and FREE EDUCATION as their business is predominantly overseas!

WT ****!

READ MORE!

https://www.watoday.com.au/national/15-000-rich-foreigners-given-visas-to-australia-during-the-pandemic-20210721-p58bky.html