A controversial program that provides visas to those who invest at least $5 million in Australia is all but certain to be scrapped in next month’s budget.
More than 2,000 people have been granted significant investor visas (SIV) since 2012, with 85 percent coming from China and 3.6 percent from Hong Kong.
During this period more than $11 billion has been invested in Australian businesses, with the program tweaked in 2015 to shift capital towards emerging companies rather than real estate.