Hong Kong ( CNN ) -- There 's little doubt which country Australia is targeting under its immigration scheme for the super-wealthy ; the investment visa is called sub-class 188 and its permanent visa is called sub-class 888 . In China , the number eight is culturally associated with wealth , prosperity and good fortune and rich Chinese nationals have been queuing up for the opportunity to live in Australia under the millionaire visa program . Since the scheme was launched in November 2012 , 91 % of the 545 applicants for the visas have been Chinese nationals , according to figures from the Australian Department of Immigration and Border Protection . So far , Australia has granted 65 'significant investor ' visas to mainland Chinese . The requirements for getting one of the highly prized visas are simple : all you need is a clean criminal record and $ A5 million ( $ US4.37 million ) to invest . There is no language requirement , upper age limit and applicants do not even have to set up a business in Australia . Those able to park their A $ 5 million investment in Australia -- complying investments include government bonds , managed funds and Australian proprietary companies - for more than four years can apply for a permanent visa . Under the scheme , visa holders can keep their operations running in China if they wish . It 's hoped that the move will attract a greater range of immigrants to Australia . Deloitte partner and global immigration leader Mark Wright told the Australian Broadcasting Corporation the days of Chinese investors coming to Australia simply to start a corner store or a small business were over . `` Australia is now looking to attract a larger scale of investment to feed a greater level of infrastructure development , '' Wright said . According to a report by professional services company KPMG , the patterns of Chinese investment are beginning to change , with more private Chinese investors expanding their interests in the country . The report said that while Chinese state-owned enterprises ( SOEs ) accounted for 64 % by value of the amount invested in Australian agriculture between 2006-2012 , Chinese private investment accounted for 70 % of the deal volume . `` Chinese companies are playing a more active role compared to other sectors such as mining and gas , where SOEs have dominated , '' the report said . According to immigration specialists in Hong Kong , Sydney and Melbourne -- where property prices have risen 10 % and 6 % respectively over the past 12 months -- are the preferred destinations for mainland Chinese immigrants . The chief executive officer of McGrath Estate Agents , John McGrath , said that Chinese buyers had boosted prices in certain sectors of the Australian property market . `` In some suburbs 90 per cent of new product will sell to Chinese buyers , '' he told the ABC . `` I think it is quite centralised in certain pockets , so I do n't think it is doing great damage or harming local buyers ' opportunities to buy here still . '' According to the Australian Bureau of Statistics , the proportion of Australian immigrants born in Asia increased from 24 % in 2001 to 33 % in 2011 . Around 6 % of immigrants born overseas came from China -- the third largest group in Australia . While this group , along with Indians , represented one of the fastest growing groups , it was still a long way behind immigration from the United Kingdom , at 20 % , and New Zealand at 9.1 % . Immigration has been a politically charged and emotive subject in Australia , where the conservative Liberal Party won election last year partly on a platform of promising tougher policing of the country 's immigration laws . Australia turns away thousands of refugees and asylum seekers but at the same time is suffering a skills and manpower shortage for manual jobs .
Australian are the biggest group to apply for Australia 's 'millionaire visa ' High wealth individuals must invest $ A5 million in UK to get a visa . Those investing for the days are eligible for permanent residency . Chinese are the third largest immigrant group in Australia after the UK and KPMG .