Australia Granted 500th Significant Investor Visa

19 Nov 2014


Immigration News

Australia has hit the headlines yet another time by granting its 500th significant investor visa in a move to boost the country’s economy massively.

The assistant minister of Immigration and Border Protection, Michaelia Cash, has announced the issuance of 500th significant investor visa.

She said that it’s a great achievement in the history for the significant investor visa program. Recognizing its latent, officials anticipate it to increase even further.

She also disclosed that a total of $2.36 billion has been invested by recipients into the country’s economy under Australia significant investor visa category with fulfilling investments varying from territory or state government bonds, direct investment or managed funds in Australian firms.

The SIV was launched to increase the Australian economy and to contend successfully for high net worth people looking for investment migration. To apply for an Australia permanent visa, immigrant investors needed to invest AU$5 million at least for a period of four years prior to being eligible.

Assistant minister said that depending on the achievement of the SIV, the Government of Australia has lately announced the establishment of new Premium Investor Visa.

Considering the feedback of business and financial services sector, who desired to boost country’s investment, the government of Australia has established a more desirable migration pathway for latent migrants, she elucidated.

The premium investor visa would need an investment of AUD15 million into complying investments and offers a chance for permanent residence subsequent to 12 months or one year.

In a bid to encourage investment immigrants as well as their families to reside in Australia, the Australian government will also launch a 180 day residency per year requirement for secondary SIV aspirants.

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