CHINA DREAMS

Some 90 percent of applicants, since the scheme was introduced in 2012 have come from China, under a program the government believes could eventually raise 6 billion Australian dollars (5.2 billion U.S. dollars) a year.

"The original SIV program is very attractive and popular with high net wealth clients who we speak to in China and in recent months the speed of processing applications has improved significantly, without cutting corners on ensuring the quality of the applicant and source of funds," Ferguson told Xinhua.

With Australia's foreign business outpost - Austrade expanding its footprint across over 10 locations in China, Ferguson said it was common sense for the governments to market the visa while "identifying, communicating and nominating with the right investor candidates."

According to KPMG, the 5-million-dollar limit has not been an obstacle so far, therefore the new premium investor visa is " another clever policy" to catch the eye of wealthy families in the highly competitive global investment market with Australia's reputation as a great place to educate and raise children as permanent residents.

Ferguson said, "Our state governments and the local funds management industry are well prepared and will benefit from increased funds flowing and 15 million drops from July 2015 will help."

"The multiplier effect to our economy in terms of consumption and further investment will become clearer in time but should not be underestimated."

CONTROVERSY REMAINS

The visa scheme is not without controversy, with Chinese investors blamed for driving up Australian property prices, while in July China's national broadcaster, CCTV, produced an expose that suggested SIV and PIV schemes were assisting money laundering scams through the United States, the Pacific and in Europe.

Ferguson said that official networks remained the safest processes for candidates.

"Through past experience and word of mouth we hear that Chinese investors understand they need to use experienced and reputable visa migration agents like KPMG who can explain the process, get the documentation right and offer a comprehensive solution."