Australian Prime Minister Tony Abbott has announced a new permanent residence visa aimed at wealthy investors.
The 'Premium Investor Visa,' which will be launched next summer, is available for applicants who can invest $15 million or more into the Australian economy.
This new visa will be in addition to the 'Significant Investor Program' for investments of $5 million or over. There have already been over four hundred Significant Investor visas issued since November 2012. Investors who meet the residence requirements may also be able to gain permanent residence in Australia.