The study and immigration circles in Australia and Canada are abuzz!

On the same Monday (January 22), Australia officially announced that it will stop issuing "golden visas" from now on, and Canada announced that it will reduce the number of international students in the next two years, with the reduction rate as high as 35% this year!

This seems to confirm a common saying: Study abroad and immigration policies in various countries are changing rapidly, so those who are interested should plan early!

01

Australia announces suspension of "golden visa"

China's richest people are more affected

Australia has been calling for the cancellation of the Business Innovation and Investment Plan (BIIP) for more than half a year, but now it has been decided!

The "Business Innovation and Investment Program" (BIIP), also known as the "Golden Visa", is an investment immigration program favored by many Chinese, including the 188A Business Innovation Visa, the 188B Investor Visa, and the 188C Major Investor Visa. visa.

Among them, the application conditions for the 188C major investor visa are easy. Applicants who invest 5 million Australian dollars in the specified investment field and meet other conditions can obtain the right of residence in Australia.

But why should this channel be closed now?

The Australian government stated that the plan was originally intended to attract investment and promote the healthy and orderly development of Australia's economy and society, but the results were not satisfactory:

① The program tends to attract older, lower-skilled immigrants, costing Australian taxpayers hundreds of thousands of dollars in the long term, far exceeding the taxes they paid while living in Australia;

② Related assets mainly flow into real estate or financial assets and do not contribute to the real economy.

Based on the above factors, the Australian government believes that the plan has failed to bring the required contribution to Australia and its economy and has caused some controversy, so it decided to cancel the plan.

According to Australian government statistics, since the launch of the golden visa, more than 85% of successful applicants are from China, so the cancellation of the program will have the greatest impact on wealthy Chinese people.

02

Canada cuts number of international students

The number of visas will decrease by 35% this year

Also on January 22, Canadian Immigration Minister Miller announced that in order to crack down on bad educational institutions and protect the local housing market, the number of international students and graduate work visas will be restricted and reduced in the next two years.

★ Key points of the new regulations:

① About 360,000 undergraduate study permits will be approved in 2024 (about 35% less than in 2023), and the number of permits will be determined in 2025 based on the actual situation in 2024.

② Cancel the Post-Graduation Work Permit (PGWP) for students from public-private colleges.

In addition, the Canadian federal government will work with each province to implement this restriction policy and allocate study permits based on factors such as the distribution of universities in local provinces and the number of international students. The number of permits in some provinces will be reduced by about 50%.

Although Canada's move is aimed at international students, it actually reduces the number of future immigrants, because for many years Canada's immigration has mainly relied on the international student route.

Looking at the life cycle of study abroad and immigration projects around the world, they are all: promotion - stabilization - price increase/threshold raising - closure. It is recommended that interested parties seize the bonus period and plan as early as possible. If you need to know more related matters, please contact Xingyunhai International!