Australian Deputy Premier Of NSW Announces Reforms To Significant Investor Visa

10 Sep 2014

The Deputy Premier of New South Wales, Andrew Stoner, has announced reforms to the requirements of Significant Investor Visa state nomination on 26 August 2014.

Effective from 01 September 2014, applicants willing to acquire nominations for NSW will further do not require to make investment into NSW waratah bonds mandatorily.

The New South Wales Government had necessitated the capable applicants to make an investment of minimum AUD $1.5 million in Wartah bonds of NSW issued by the government for at least four years before the announcement of this reform.

The removal of the requirement would create significant benefits to the applicants of SIV. In future, investors, who wish to settle in NSW, will be allowed to move away from low return government bonds and attain significant suppleness to select their investments of their choice.

However, those applicants who have acquired nomination from the Government of NSW before 01 September 2014 have to still invest AUD $1.5 million into Waratah Bonds as stated in the application previously.

Amongst all the states and territories, NSW holds the second position with regards to the number of SIV nominations, with 420 invitations given during the period 24 November 2012 to 31 July 2014.

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