In a significant development–which is likely to make the many Australia-inspired migrants a happy lot–it has been learnt that Canberra is planning to aggressively woo millionaire migrants and welcome them to its shores. The nation intends to offer such overseas people a fast-track residency status–with the only key condition being they make an investment of nearly USD 5 million on the country’s soils.

Meanwhile, the nation’s immigration minister was quoted as saying that fresh permanent visas will be up for grabs for individuals from all overseas nations on a purely non-discriminatory ground. Chris Bowen added that he anticipates and is positive of a reasonably good response from almost all Asian countries with China leading the pack rather convincingly.

The minister continued that the said development is suitably tailored and programmed to address the existing skill and capital scarcities plaguing Down Under. It is also tailored to improve the situation on the job front across the country by creating additional openings.

Terming the move as an investment visa, he added that those who are keen to make a remarkable investment in the country, via investments, will be given due preferences and offered with certain concessions in the important matter of Permanent Residency. Bowen continued that, via the said fast-track system, Down Under is positive that it would offer more than 7,000 fresh investment permits to the interested people.

The minister further said that he believes that the nation may attract more people–more so those who are keen to innovate, who believe in taking risks (and making the most of them), who wish to invest in certain areas of the country, which otherwise may not be attracting enough funds, and eventually create more jobs.

The new visa system would become effective from July this year.