Rich and American? Australia wants you

SYDNEY (Reuters) - Flush with the success of a millionaire visa program to attract wealthy Chinese, Australia is now promising citizenship to rich Americans who are willing to bring their cash and entrepreneurial talent Down Under.

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But there's a rather large catch: participants in the invitation-only Premium Investment Visa scheme will need to invest A$15 million ($11.57 million) for the privilege of becoming an Aussie. Launched earlier this month but not widely publicized, the scheme's investment requirements easily top the existing two-year-old Significant Investor Visa (SIV) program, which asks for a A$5 million commitment and has been especially popular with Chinese migrants. More...