New premium investor visa to be introduced in Australia - invest $15 million for 12 months to gain permanent residence

The Australian Significant Investor Visa (SIV) commenced on 24 November 2012.

As a result of a recent review the Australian government has endorsed the key findings of the review, which include:

• the creation of a Premium Investor visa (PIV) with Austrade as the nominator

• the involvement of Austrade in determining complying investment policy

• enabling Austrade to nominate SIV and PIV applicants on behalf of the Australian

Government

• allowing ‘role swapping’ between primary and secondary applicants during the provisional

visa stage within all streams of the Business Innovation and Investment Programme (BIIP)

• a range of changes to improve visa processing times, many of which have already been

implemented.

In addition to the findings of the review, there will also be an increase in the residency requirement for

secondary applicants of the SIV to 180 days.

Key facts about the Premium Investor Visa

The PIV will be created as a stream within the BIIP programme with the following features:

• investment of AUD 15 million into complying investments

• permanent residency after 12 months

• no residency requirement

• nomination only by the Australian Government (Austrade)