Australia’s new scheme entitled as Significant Investor Visa (SIV) will come into force from 1 July 2015. Earlier, the Department of Immigration and Border Protection (DIBP) has promulgated the program suspension till 30 June 2015.
According to the DIBP, all the new nominations would be subject to the new complying investment system, starting 1 July 2015. The government considers concerns had centered on the nature of abiding by investment options in the system and whether checks were adequately strong in terms of the legality of the candidates.
This move is the new in terms of measures intended at relaxing property market. Formerly, there has been various moves by the existing government to slow the native property market, which has observed a strong growth, especially in Melbourne and Sydney.
The new amendments to the SIV push productive investment prior to dead housing investment, which is limited to 10% of the selection. Good policy.
Under the new program demand for overseas investor is more and it is likely to increase further when the new rules come into effect.