The Significant Investor Visa bringing $ Billions to Australian Property-Real-Estate

The New "Significant Investor Visa" (SIV) was introduced in November 2012 by the Department of Immigration and it gives residency to wealthy foreign nationals who have more than $5 million to spend on approved Australian investments;  There are people from all over the world interested in this option and the cue is increasing by the day.

 

There are currently 234 applicants awaiting approval from the department, which means more than $1.17 billion worth of foreign investment, and so far 504 applicants representing at least $2.5 billion worth of investment have expressed interest in the scheme but only 335 were invited to apply.

 

A spokesperson from the Department of Immigration said that processing an application could take up to nine months because they need to do health, character and national security checks as well as assessing whether the applicant's funds are lawfully acquired.

 

This visa is going to be a substantial benefit to Australia's economy as the applications are approved and big investments starts to pour into our property market in particular as this is the area the money is being transferred to.