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188C SIV currently requires $5,000,000 to be invested through the licensed fund managers into the complying significant investment for a period of five (5) years.
The SIV applicants are subject to priority processing by the Department of Home Affairs with the decisions having been made within a couple of months. Furthermore, 188C SIV applications are not subject to any age threshold or points test. It is quite easy to obtain a 188C SIV if you have the financial means whose sources can be proven.
However, with Anthony Albanese as our new Prime Minister, this field will likely be subject to radical changes. Home Affairs Minister Clare O’Neil recently criticised the SIV scheme in highly aggressive and clear terms, forcasting that it would soon be abolished or radically redesigned. The market has responded to her public remarks quite rapidly with prominent SIV fund managers experiencing significant loss of their share price by as much as 20%.
- Fraud-prone ‘Golden Ticket’ visa likely to be axed, Australian Financial Review, 11 September 2022
- Australia’s significant investor visa set to be scrapped under migration changes, Australian Broadcasting Corporation, 11 September 2022
Whilst many doubts that her remarks will be translated into applicable laws, it is always better to plan ahead. If you are interested in applying for 188C SIV to make Australia as your next destination, do it now before it is too late!!
Speak to Visa Plan’s 188C SIV Experts today!