A Singaporean In Australia

Dear Sir,

I am a Singaporean and had read your interesting blog. I am currently in Perth and will be starting MD in UWA this year. I had been in Perth since 2012, studying from foundation to finishing Bachelor of Science in Psychology. My initial planning was to aim for the point system to obtain PR.

I tried to search your blog but I apologise if I have overlooked it if you had post it before. My friend is telling me that if I invest AUD 100,000 into Australia, I can get a PR (my friend interpret it as "buying" PR with AUD 100,000). My question is, is "buying a PR even possible or legal?

Regards,

Chris

Hi Chris,

If you are referring to something like this [link], it hasn't happened yet. In my opinion, it isn't likely to, not at that sum of money at least. The Australian government cannot be that stupid. Heck, if they want to put Australia up for sale, at the very least they should have learn something from the Singapore government and put 100 Australia PR up for grabs via an auction system. They shouldn't leave out the best part, of course. The PR can last only 10 fucking years. I bet many bidders will come from Singaporean, because they will find such a policy really reasonable. That'll fill the coffers for the Australian Government the same way, with negligible liabilities to answer for. #trollgoverning101

As for why I do not think this (the original idea, not mine) will happen, it is because the current 'buyable' PR is set at a high price. The PR visa that does not require the applicant to go through the points system is the Significant Investor stream and above under Subclass 188. For applicants under Business Innovation or Investor stream, you must score at least 65 points in the points test to be eligible. Thus the Significant Investor stream should be the minimum (though not the only) avenue and that cost you at least AUD5million. 

Having said that, this money is not "paid" to the government. Rather, the money is invested into businesses or properties of your choice. So rich folks will have a business or two to run and a nice place to live, a free PR and without really losing their money. Since no money really goes into the Australian Government directly, it does little to reduce their debts. Therefore there is a consideration of "selling PRs" for $50,000 or $100,000. This is unlikely to happen because any rich businessman will simply dump in $50,000 for himself, as well as for each of his slaves who will later work his sweatshop on an under-table slavery contract. That is so much cheaper than investing $5million, with potentially higher returns too. Thus, Australia loses. Let's hope it doesn't go that way.

For $100,000, you may want to consider getting a Panama PR instead. [link] For $60,000, (up from $30,000 2 years ago) you get a TR upgradable to PR, and a piece of land that you have to grow trees on with the potential to get back more than you have invested when the trees mature. Meanwhile, you can play Pirates of the Carribean and jio Latin chiobus in nearby countries. Why the fuck not?