The Australian Government announced changes to investor visas designed to enhance the attractiveness of investment migration in Australia on 14 October 2014. The announcement was made following a departmental review of the programme.
Significant Investor visas are a niche category of Australia’s skilled migration programme. They make substantial contributions to Australia’s economy, with more than AUD 2 billion injected into Australia’s economy since their inception in November 2012.
In order to be eligible for the Significant Investor visa, applicants must invest AUD 5 million into approved investments in Australia. Visa holders must then maintain their investment for at least four years in order to be eligible for permanent residency.
Exciting changes to the programme will see the creation of the Premium Investor visa on 1 July 2015. This visa will allow applicants who invest AUD 15 million in approved investments to be eligible for permanent residency after 12 months. These changes are good news for investment in Australia, and will also enhance the attractiveness of the programme for potential applicants.
To ensure investors’ dollars work hard for Australia, Austrade will now assume policy responsibility for approving the investments that qualify for the programme.
Significant Investor visa nominations will continue to be made by states and territory governments. Austrade will also be able to nominate applicants for this visa type, as well as be the only nominating agency for the Premium Investor visa.
Learn more about investment migration to Australia.
Keep following our blog for news on upcoming changes to Australia’s Business Innovation and Investment programme.