Written by Kruti Beesam
The Australian government has made significant changes to immigration programs relating to foreign investors. This is done to attract foreign investors to Australia. These new rules require conditions to be fulfilled to invest in the country. First, the premium investor visa should be applied for. The new rules are valid since 1st of July 2015.
The Significant Investor Visa has also undergone a change. It is with regard to the amount of investment required, to obtain this visa. The PIV requires a foreign investor to invest a minimum of 15 million dollars to acquire it. After acquiring the PIV, one is eligible for permanent residency, after 12 months.
What The New Visa Has In Store
The Premium Investor Visa aims at bringing together those investors, whose intentions are in accordance with Australian nation and state investment priorities. The states and territories refer the applicants to Australia which recommends these PIV applicants. After receiving the permission to invest there, investments can be made in many ways.
Investors cannot invest in residential real property. However, making indirect investment of less than 10% through is allowed.
The Old Visa Gets A New Face!
Now the Significant Investor Visa, requires an investment of 5,00,000 Australian dollars. For SIV too, the visa is granted after an year. A minimum of 1.5 million has to be invested in upcoming companies in Australia. Rest can be invested in securities, government bonds or notes, annuities, Australian real property, and derivatives.
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