What is a Significant Investor for migration?

By June 26, 2019 news

The Significant Investor visa (SIV) (188c) is an initiative run by the Department of Home Affairs as part of their Business Innovation and Investment Program (BIIP). The SIV offers a four–year provisional visa with a pathway to permanent residency (subclass 888) for entrepreneurial and high net worth individuals (HNWIs) who invest at least $5 million into complying investments

 

As of 30 June 2018, 2022 SIV visas have been granted from the commencement of the program in 24 November 2012. Despite only accounting for 0.1% of all visas granted to Australia each year, the SIV program has directly delivered approximately $10.1 billion of investment into complying investments in Australia since its inception.

 

Lifestyle factors, political climate, and investment opportunities are three of the most important reasons for coming to Australia. These are similar to what is observed internationally. 8 Interestingly, given education is Australia’s largest service export, child’s education was also identified as an important reason for some applicants.

 

 

(Source: Impact of the Significant Investor visa program: A long–term proposition for Australia, 2019 – Deloitte Australia)

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