17 Oct 2014

Immigration News Update

Premium Investor Visa of Australia

The Minister for Trade and Investment of Australia has announced that Australia will roll out a new investment immigration scheme known as Premium Investor Visa (“PIV”). The scheme is expected to be effective after July 2015. The required minimum investment level is at AUD15 million per main applicant and after 12 months from the date of an approved application, the applicant may receive permanent residence status. Investment in residential properties is not a qualified investment under the PIV, but the scheme is to encourage applicants to make Australia his/her permanent home. The Significant Investor Visa (“SIV”) scheme, with minimum investment level at AUD5 million, will run concurrently with PIV.

Although details of the PIV have not been announced, it is reported that the invested funds should be spent on designated industrial sectors: food, agriculture, mining and service, natural gas and energy, medical and pharmaceutical and high-tech manufacturing.

Please contact our Hank Lo for any enquiries or further information about this transaction.

(Source: http://trademinister.gov.au/releases/Pages/2014/ar_mr_141017.aspx
(Source: http://www.apdnews.com/au/immigrant/zhengcejiedu/2014/1020/117374.shtml)