The Government today announced important changes to the Significant Investor Visa and creation of a Premium Investor visa.
The new Premium Investor Visa (PIV) will require an investment of $15 million, nomination by Austrade and has no residency requirements. PIV holders will be eligible for permanent residency after holding the complying investment for 12 months.
Other changes include:
- the involvement of Austrade in the nomination of applicants on behalf of the Australian Government and in determining complying investment policy
- allowing ‘role swapping’ between primary and secondary applicants during the provisional visa stage
- introduction of 180 day residency requirements for secondary visa holders
- changes to improve visa processing times
Thanks to the MIA for providing the above information to me today in its email to members. There is more information on the new visa at the following link.
Creative commons acknowledgment for the photograph.