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New Premium Investor Visa (PIV) announced

16 October 2014

New Premium Investor Visa (PIV) announced

The Government has announced important changes to the Significant Investor Visa and the creation of a Premium Investor Visa.

The Significant Investor Visa (SIV) commenced on 24 November 2012. On 7 March 2014 the Assistant Minister for Immigration and Border Protection announced a review of the SIV. The purpose of the review was to ensure that programme settings: 

•    maximise benefits to the Australian economy 
•    are attractive to potential applicants 
•    have appropriate integrity measures to prevent fraud and to screen out inappropriate applicants. 

The new Premium Investor Visa (PIV) will require and 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 a total of 12 months. 
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

These changes will be made progressively through the 2014-15 programme year, with changes requiring legislative amendment expected to come into effect from 1 July 2015.

The changes will not apply to current SIV holders or current applications. 

Alliance International Migration Services (AIMS) is specialize in Business Skilled visas in particular Significant Investor Visa’s (SIV). Should you wish to find out more about SIV or PIV visas, please contact us today for a no-obligation chat on +61 3 9078 6819 or team@thinkvisa.com.au. Alternatively, visit www.thinkvisa.com.au for more information, including details of our credentials, fixed price offering and free online assessment option.

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