Visa Migration Services Australia
SIV Applications on the decline
Changes made to the Significant Investor Visa (SIV) program and implemented from July onwards have resulted in a decline in application numbers as reported in The Sydney Morning Herald on November 11th 2015.
The visa subclass 188 Business Innovation and Investment (Provisional), which can lead to a permanent residency visa, has four streams. A change to the popular Significant Investor stream required visa applicants to commit a AUD $1.5 million of the required $5 million investment into venture capital investments.
Just 19 applications were received across July-October, down from an approximate monthly average of 44. With the majority of visa applicants being Chinese investors such a commitment is viewed with caution, with their wariness exacerbated by a slowing Chinese economy.
Since its inception in 2013, the Significant Investor Visa (SIV) program has resulted in 751 visa grants from 1,679 applications.