It's the end of the road for so-called Golden Vesas in Australia.

Live from the BBC World Service.

This is the Marketplace Morning Report.

Will Bain in for Leanna Byrne today.

Thanks so much for kicking off your week with us. Yeah Australia has

accessed its so-called golden visa program which granted wealthy overseas investors the right

to live in the country. Designed to attract foreign business it was cut in an immigration overhaul after the government said it found it was delivering poor economic outcomes.

The BBC Casey Silver has more.

So basically Australia is saying that they're going to stop taking applications for golden visas, which allow wealthy investors to live in the country.

It was first introduced back in 2012, and so they were really targeted at Chinese national, about 20,000 of the 26,000 visas that

were taken up, were taken so by Chinese people, but basically they've made the decision

to do away with these

visas something they were quite popular back in about 2012 many Western

countries around the world had them but now we've seen more and more countries

choose to get rid of them. Basically many countries for example

finding that they're associated with things like corrupt money, money laundering,

that sort of a thing and so Australia as I say becoming the latest country to get rid of these visas.

I guess it perhaps leads to an interesting question, though, Katie, about where we are in terms

of Australia's relationship with China, of course, one of its biggest trading partners.

Absolutely and things under the current government the Albany

government have improved dramatically there of course under his predecessor Scott

Morrison we saw that was really when the relationship

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