Australia's significant investor visa - referred to as a “Golden Ticket” - is set to be scrapped. 

The program that hands out visas to people who invest at least $5 million in Australia looks set to be scrapped in next month's budget.

More than 2,000 people have received significant investor visas (SIV) since 2012 - 85 per cent of which came from China and 3.6 per cent from Hong Kong.

The scheme has seen over $11 billion invested in Australian businesses, and was tweaked in 2015 to shift capital towards emerging companies rather than real estate.

It is different to other visa categories because successful SIV applicants are not required to learn or speak English, and there is no age limit.

The federal government says it wants to prioritise skilled worker migration after the international border closures of recent years.

“I think most Australians would be pretty offended by the idea that we've got a visa category here where effectively you can buy your way into the country,” Home Affairs Minister Clare O'Neil told Sky News.

“I don't see a lot of great benefits to the country currently.”

Transparency International Australia chief executive Clancy Moore has welcomed the likely scrapping of the scheme.

“Fast-track investment migration schemes have resulted in kleptocrats, crooks and criminals [being] given visas and then [they] laundered their dirty money through our real estate and other sections of the economy,” Mr Moore said.

“The government's review of the immigration system is a perfect opportunity to abolish this unfair visa category and close another dirty money loophole.”