15/10/14
Prime Minister Tony Abbot, has announced that the government will introduce a new “Premium Investor Visa” offering a faster 12 month pathway to permanent residency, for those meeting a A$15 million investment threshold.
Key changes in respect of migration reform, include having SIV prospects target their money at areas of priority to the Australian economy. Currently the SIV grants foreigners with $5 million to invest over four years a permanent visa.
According to the Australian Financial Review, the SIV will be altered to push money towards certain areas of the economy. These are likely to be the ‘growth centres’. The government has chosen to focus on five sectors for its growth centres: oil and gas, mining technology, medical technology and pharmaceuticals, food and agribusiness and advanced manufacturing.