Significant Investor Visa Suspension

The Australian Government has announced that applications for the Significant Investor Visa will be temporarily closed from 24 April 2015 until 30 June 2015.

This is in anticipation of new Significant Investor Visa legislative requirements, including changes to nominated investments starting 1 July 2015.  It is also expected that a new Premium Investor Visa will be introduced.

According to the Austrade website,

The Australian Government recently announced reforms to improve the SIV programme including the introduction of a new Premium Investor Visa (PIV) offering a more expeditious, 12 month pathway to permanent residency than the SIV, for those meeting a $15 million threshold.

The changes to the programmes are expected to be implemented after July 2015.

The proposed changes mean Significant Investor Visa 188/888 applicants may have more options available to them, although investment criteria may become more stringent.