Really significant investor visa

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.bank notes

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.

Queue

The DIBP website is reporting extensive queues for the other family (i.e. non-contributory parents, carers, remaining relative) visas:

queue

  • Non-Contributory Parent visa – approximately 30 years
  • Carer visa – approximately 4.5 years
  • Remaining Relative and Aged Dependent Relative – approximately 56 years 

These visas were abolished but have been reinstated (probably for 6 months) following a successful disallowance motion in the Senate on 25 September 2014.

Needless to say these waiting times generally make the application futile. There will be some very elderly people granted visas, if they survive the wait in the queue!

Creative commons acknowledgement for the photograph.