Conflicting media reports about whether Australia’s BIIP is closed or still open have confounded the market. James Hall clears up the confusion.
“It is a visa program that I think isn’t adding value to the country,” said the Home Affairs Minister in a recent press conference.
The total investment amount for the Investor Visa will rise from AUD 1.5 to AUD 2.5 million on July 1st.
The program’s largest fund manager says that, thanks to non-SIV follow-up investments, total FDI arising from the program may be close to A$50 billion.
Close to 80,000 investor migrants and dependents have obtained Australian visas under the BIIP, but 18,682 applicants are “in the pipeline”.
Applications to Australia’s Significant Investor Visa (SIV) program has fallen from an average of 46 a month during the 2015/2016 fiscal year
