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The federal government has put a halt on visas for cashed-up foreign investors while it decides how best to spend the billions worth of capital flowing into Australia. A spokesperson for the Foreign Investment Review Board confirmed on Tuesday that the government is looking at better ways to capitalise on the Significant Investor Visa cash cow. Visa nominations will be suspended from this Friday until the end of the financial year while new complying investment proposals are approved that are expected to funnel more of that money into venture capital businesses. |
