Australia has been ranked as fifth in the world for its investment migration programme, thanks to the range of options available to help business people gain residency.
According to Henley & Partners, which specialises in citizenship and residency advice, the Australian Residence-By-Investment programme was in fifth place, joint with Malta and Spain.
There were several options for entrepreneurs and business people looking to migrate to Australia including the Business Innovation and Investment programme, Business Talent programme and the Global Talent Independent programme.
Requirements ranged from passing a points test, having business turnover of at least $500,000, having net assets of $2.25 million and agreeing to receive $200,000 in venture capital funding from an Australian company, depending on the type of programme.
The top countries for ease of achieving residency was jointly Austria and Portugal while Malta was top for those looking to obtain citizenship of the country.
Dominic Volek, group head of private clients at Henley & Partners, said: “While in the past, alternative residence or citizenship may have been seen as ‘nice-to-have’ assets of convenience that enhanced travel freedom and provided vacation homes, the coronavirus has prompted a further shift. Now they are ‘must-have’ essential assets because of the undeniable advantages they provide, including giving families alternative relocation options in a time of crisis.”
