Golden visas gone, now axe parent visas


The $1 billion-a-year “golden ticket” visa scheme is set to be axed, under a review of the nation’s migration system.

These ‘golden ticket’ visas confer an automatic right to permanent residency in Australia, and unlike other visa classes, people are not required to speak or learn English.

While more than 7000 Chinese citizens have been granted the visas, not a single applicant in the past 10 years has been rejected under the character test designed to help exclude criminals or those with suspiciously obtained wealth.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.