Bill Browder opposes reviving Australia's golden ticket visas

Bill Browder, a prominent figure behind global sanctions against human rights abusers, has criticized Peter Dutton's suggestion to reinstate a controversial "golden ticket" visa scheme in Australia. Dutton, a leader of the Coalition party, hinted at bringing back this program during a recent fundraising event. The scheme allowed foreign investors who put $5 million into Australia to receive a visa for four years, with a pathway to permanent residency. Most of the visas were granted to Chinese nationals, raising concerns about money-laundering and foreign interference. The Albanese government ended the program in early 2024, citing these issues. Browder warned that reintroducing the scheme would allow questionable individuals from countries like China and Russia to gain legitimacy in Australia. He emphasized that many nations have canceled similar visa programs due to corruption concerns, cautioning that Australia would be making a serious mistake by considering reinstatement. In response, Australia’s home affairs minister, Tony Burke, stated that visas should be granted based on national interests, not financial power. He reinforced the importance of ensuring the integrity of the visa system. Clancy Moore from Transparency International Australia also urged against reviving the golden visa program. He explained that such schemes often enable corrupt officials to hide their illegally obtained wealth by investing in legitimate businesses and properties. The previous visa program had minimal requirements, allowing applicants to spend only 40 days per year in Australia and not requiring proficiency in English. Critics, including the Productivity Commission, deemed the program prone to fraud and recommended its abolition in favor of skilled workers, which could benefit the economy by billions of dollars.