The New South Wales (NSW) Government announced today that on 1 September it will introduce changes to its Significant Investor Visa (SIV), making it easier for applicants to obtain NSW nomination and invest in a broader range of investments.
From 1 September, applicants seeking NSW nomination under the Significant Investor program will be able to invest 100% of their funds in the complying investment of choice. To be eligible for a SIV, successful applicants are required to invest $5 million AUD in complying investments, and until now were required to make a minimum investment of 30% (or $1.5 million) of this in NSW Waratah Bonds. In streamlining the investment process, this requirement to invest in NSW Waratah Bonds will be removed as of 1 September allowing applicants to invest all of their funds wherever they choose.
Applicants who have been nominated by the NSW State Government prior to 1 September will still need to meet the conditions of their approved nomination and will be required to continue to invest $1.5 million in NSW Waratah Bonds for the term of their SIV.
For more information about investing in Australia and the Significant Investor Visa, contact a member of our team at AMVL Migrations. We specialise in all Australian visa categories and our team pride themselves on providing our clients with professional and friendly migration assistance and advice.