Chinese Land Deal To Be Investigated By NSW Government
Wok’s going on here? Are the Chinese cooking up a scam to give foreigners a permanent stay in Australia in exchange for investments in a land deal?
The NSW government is presently investigating allegations that a Chinese property developer is trying to lure investors to park their money in a land deal located in NSW Hunter Valley by promising them permanent resident visas in Australia.
News Corp Australia released its report that a Chinese company called Profit Palace Group was assuring its investors permanent residency plus complete access to Australia’s social welfare benefits within six months.
Anthony Roberts, NSW’s Planning Minister, described the conditions as “concerning”. Roberts further added that the supposed arrangement of permanent residence visa in exchange for investment did not pass the “pub test” and has quickly referred the matter to his office for immediate investigation:
“It’s the expectation of people in this nation that people can’t buy their way into permanent residency or citizenship. Fair Trading will investigate. My department will have a look at how this occurred and make sure it doesn’t happen again.”Roberts disclosed that the head of Profit Palace Group, Jiang Xiao, may likewise be in trouble with the Chinese government. Roberts is of the opinion that Jiang may have violated a number of Chinese laws:
“And that’s a matter for the Chinese government.”
Roberts also suggested that the NSW government review its foreign investment laws. Perhaps institute tighter and tougher restrictions, imposing stricter qualifying measures, and implementing stiffer penalties.
For his part, Home Affairs Minister Peter Dutton said all suspicious arrangements covering real estate transactions should be investigated throughout Australia:
“If people have any information, please come forward to the Australian Border Force or to the Department of Home Affairs with that information and it will be properly investigated.”
Profit Palace has not issued a statement regarding the issue. Accordingly, news agencies report that the phone number indicated on the company’s website appeared to be disconnected.
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