When announcing a review the Significant Investor Visa program in October 2014, Andrew Robb, Minister for Trade and Investment, said:
“Our aim, as part of our broader competitiveness agenda, is to attract more investment into Australia that makes a material difference to supporting sustainable growth, productivity and job creation. We are keen to attract additional investment which supports innovation and which provide new sources of growth capital.”
Processing of Significant Investor Visa (SIV) applications will be suspended from 24th April. Australian states will no longer be able to issue invitation letters, with Austrade taking over from 1 July.
Almost 700 visas have been granted since the Significant Investor Visa (SIV) program was established just over two years ago. Almost 90% of applicants are from mainland China. With no English language requirement, understanding Australia’s financial services landscape can be challenging.