Headline

Australia Scraps Special Visa Scheme Designed For Wealthy Investors

Published

2 years ago

January 22, 2024

The Australian government has discontinued the “golden visa” programme, which allowed wealthy investors across the globe the right to live in the country.

According to BBC, Australia ended the special visa programme designed to attract foreign business, for “delivering poor economic outcomes”.

It had earlier been reported that critics argued that the scheme was being used by “corrupt officials” to “park illicit funds”.

The scheme which was craved out from an immigration system would be replaced with more skilled-worker visas.

Thousands of significant investor visas (SIV) have been granted through the program since 2012, with 85% of successful applicants coming from China according to government data.

Marketed as a way to drive foreign investment and stoke innovation, candidates had to invest more than A$5m (£2.6m;$3.3m) in Australia to be eligible.

After multiple reviews, the government found that the scheme had failed to meet its core objectives. In a policy document from December, it announced that it would scrap it, focusing instead on creating more visas for “skilled migrants” capable “of making outsized contributions to Australia”.

“It has been obvious for years that this visa is not delivering what our country and economy needs,” Minister for Home Affairs Clare O’Neil said in a statement on Monday.

The move has been welcomed by Clancy Moore, the chief executive of Transparency International Australia, who told the BBC: “For far too long corrupt officials and kleptocrats have used golden visas as a vehicle to park their illicit funds in Australia and arguably hide their proceeds of crime.”

The program had already come under intense scrutiny for its alleged “loopholes” and “vulnerabilities”. Bill Browder, who is widely credited as being responsible for the creation of the Magnitsky Act – a US law designed to target individuals for abuses committed overseas, has also criticised the scheme.

In 2016, a government inquiry raised concerns that it had the “potential for money laundering and other nefarious activities”, while in 2022 The Australian newspaper reported that members of Cambodia’s Hun Sen regime were among the bad actors who had exploited the system.

The government inquiry also found that the visas were bringing people into Australia with “less business acumen” than would have otherwise arrived, while offering tax concessions that were costing the public.

Some asset managers have pushed back on those assessments, arguing that the follow-on investment from SIVs has ended up being significantly more than the A$5m buy in.

Australia now joins the UK, which scrapped a scheme offering fast-track residency to the mega rich in 2022, due to concerns about the inflow of illicit Russian money.

So-called golden visa schemes have also come under scrutiny in Malta, which has been granting speedy citizenship to wealthy non-European Union nationals.

In 2022, an investigation discovered the visas being granted after people spent just days in the island nation, while the EU had raised concern over risks of money laundering, tax evasion and corruption.

BBC

Headline

Putin Says Russia Ready For War, Blames Europe For Sabotaging Peace

Published

15 hours ago

December 2, 2025

Editor

Russian President Vladimir Putin said on Tuesday that Russia was “ready” for war if Europe seeks one, accusing the continent’s leaders of trying to sabotage a deal on the Ukraine conflict before he met with US envoys.

The comments came as US envoy Steve Witkoff and President Donald Trump’s son-in-law Jared Kushner were in Moscow for high-stakes talks on ending the nearly four-year war, which were preceded by days of intense diplomacy.

“We are not planning to go to war with Europe, but if Europe wants to and starts, we are ready right now,” Putin told reporters in Moscow.

“They have no peaceful agenda, they are on the side of war,” he added, repeating his claim that European leaders were hindering US attempts to broker peace in Ukraine.

He added that European changes to Trump’s latest plan to end the war “aimed solely at one thing — to completely block the entire peace process and put forward demands that are absolutely unacceptable for Russia”.

Washington has presented a 28-point draft to end the conflict, later amended after criticism from Kyiv and Europe, which viewed it as heeding to many of Russia’s maximalist demands.

The plan to end the war is championed by Trump, but European countries fear it risks forcing Kyiv to cave in to Russian demands, notably on territory.

Fearing further Russian aggression, Europe has repeatedly said an unfair peace should not be imposed on Ukraine.

The Trump envoys are now seeking to finalise the plan with the approval of Moscow and Kyiv.
AFP

Headline

US Senator Proposes Bill To End Dual Citizenship

Published

15 hours ago

December 2, 2025

Editor

A United States lawmaker has introduced a bill seeking to abolish dual citizenship for American nationals, a move that could affect thousands of Nigerians who hold both US and Nigerian passports.

Bernie Moreno, a Colombian-born US senator, announced the proposed legislation — titled the Exclusive Citizenship Act of 2025 — arguing that the current system, which allows Americans to hold multiple nationalities, creates “conflicts of interest and divided loyalties.”

“One of the greatest honours of my life was when I became an American citizen at 18, the first opportunity I could do so.

“It was an honour to pledge an Oath of Allegiance to the United States of America and only to the United States of America! Being an American citizen is an honour and a privilege—and if you want to be an American, it’s all or nothing. It’s time to end dual citizenship for good,” Moreno said.

Moreno, who has since renounced his Colombian citizenship, maintains that exclusive allegiance is essential to national integrity.

If passed, the bill could have far-reaching implications for prominent figures such as US First Lady Melania Trump, who holds both US and Slovenian citizenship. It would also significantly impact Nigerians with dual citizenship.

According to a July naturalisation flow report by the US Department of Homeland Security, 38,890 Nigerians became naturalised American citizens between 2021 and 2023. Nigeria ranked 13th among countries with the highest number of new US citizens and was the only African nation in the top 20.

Nigerian law allows citizens by birth to hold dual nationality without relinquishing their Nigerian citizenship.

This development comes months after President Donald Trump issued an executive order aimed at denying automatic US citizenship to children of undocumented immigrants born in the country.

The order was immediately challenged by 18 states and multiple rights groups, who argued it violates the 14th Amendment’s guarantee of birthright citizenship. Ongoing legal battles have prevented the order from taking effect.

Headline

12 Die, 30 Missing In Peru Landslide

Published

2 days ago

December 1, 2025

Editor

At least 12 people, including three children, died in a landslide at a river port in central Peru on Monday, and 30 were reported missing, officials said.

The landslide submerged a boat with about 50 passengers on board, and another with none, as they were docked at the port of Iparia in the Amazon jungle region of Ucayali, according to a police report cited by the Andina news agency.

Six people were injured, it added, and a search and rescue operation was underway at the start of the Peruvian rainy season.

Without giving a toll, Peru’s COEN national emergency operations centre said on X that tragedy struck at dawn due to “erosion” of the bank of the Ucayali river.

It said the navy has been called in to help.

AFP