The Australian Government has advised that state and territory governments will be unable to nominate applicants for a Significant Investor Visa (SIV)
through SkillSelect from 24th April 2015 until 30th June 2015. Most state governments will continue to accept applications for state nomination for the SIV until close of business on Tuesday 22nd April 2015, to allow time for processing. To be considered under the current SIV framework, applicants must:
- Be nominated and invited to apply for the SIV prior to 24 April 2015
- Lodge a valid visa application within the Commonwealth Government’s prescribed timelines (applicants have 60 days from the date of invitation to make a valid visa application online before the invitation expires).
Applications for state nomination for the SIV will resume, under the new investment framework, from 1st July 2015. The new framework will include the introduction of the Premium Investor visa (PIV). The PIV will require an investment of AUS$15 million into complying investments and will allow applications for permanent residence after 12 months. Currently, the SIV programme, which was launched in November 2012, requires foreigners to invest AUS$5 million over a four-year period before they are eligible to apply for a permanent visa.