What does Australia's 5 million major investment immigration project mean?

Australia's 5 million major investment immigration project, also known as 188C major investment immigration project, focuses on the fact that applicants who invest in Australia only need to invest 5 million Australian dollars to obtain the qualification to apply for the "Important Investor Visa" fast immigration channel.

You can get a four-year temporary residence visa in Australia by investing 5 million Australian dollars in a designated project in Australia. You will get a permanent residence visa after meeting the requirements of four-year temporary residence. Although there is a word difference between "temporary residence" and "permanent residence", people living in Australia know that there is no difference in education, medical care and other benefits except for the length of stay. During the period of holding the 188 visa, continue to invest 5 million Australian dollars and live in 160 days. After 4 years, you can choose to transfer to 188 for permanent residence or renew 188 visa.

In addition to high capital requirements (more than 5 million Australian dollars), other conditions for visas for major investors are also very simple: 1. No criminal record; 2. Explain the process of asset accumulation reasonably and provide some supporting documents. In addition, there are no language, age and other requirements.