Australia Special visas have re-arrived for affluent investors. The Significant Investor Visa was launched by the Australian government in 2012. It was aimed at attracting High Net Worth Individuals to the nation for enhanced growth of the economy.
Till 2014, the Chinese nationals were readily embracing the Significant Investor Visa. They also hailed these Australia Special visas as a key feature of Australian immigration program. This visa offered Australia PR to immigrants ready to make an investment of 5 million $ into complying investments.
The Significant Investor Visa was a part of the Business Innovation and Investment Program of the federal government. It quickly became a favorite of the Chinese nationals. In 2012-13 the number of applications for this visa from Chinese was 285. It reached a peak of 1, 393 applications in 2014-15. If all the applications were approved it would have channelized 6.9 billion $ + into the economy of Australia.
Meanwhile, by the end of 2014, the federal government made certain changes to the Significant Investor Visa. It introduced regulations for the kind of investments that could be made by the applicants of this visa, as quoted by the ACBR AU.
Before the changes, the applicants of this visa had diverse choices for investment. This included a government-managed fund or bond, and proprietary limited company. In 2015-14 the numbers of Chinese applications dwindled to 180. The number of applications bounced back to 370 in 2016-17.
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If you are looking to Study, Work, Visit, Invest or Migrate to Australia, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.