Australia

Details

  • Service: Private Enterprise, Private Companies, Immigration Services
  • Type: Regulatory update
  • Date: 29/08/2014

Migration Newsflash

Migration Newsflash
Keep up-to-date with issues and developments in the immigration environment.

Migration Newsflash: Australia’s Significant Investor visa gains traction 

Latest Significant Investor visa statistics issued by the Department of Immigration and Border Protection (as at 31 July 2014) indicate Australia’s Significant Investor visa continues to gain traction as a preferred means for high net worth individuals to gain residency in Australia.

Key insights

  • Statistics indicate 343 visas granted, representing inbound investment into Australia of over AUD$1.7 billion.
  • A total of 1,582 Expressions of Interest and 1,095 applications lodged to date.
  • Victoria and New South Wales continue to dominate the program.
  • The NSW Government announced that from 1 September visa applicants will no longer be required to invest AUD$1.5 million of their AUD$5 million into NSW Waratah Bonds.
  • The level of refusals or withdrawals under this visa category is high.
 

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KPMG's Immigration Services practice helps companies and individuals navigate Australian immigration law.