Conflicting media reports about whether Australia’s BIIP is closed or still open have confounded the market. James Hall clears up the confusion.
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“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.
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The total investment amount for the Investor Visa will rise from AUD 1.5 to AUD 2.5 million on July 1st.
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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.
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Close to 80,000 investor migrants and dependents have obtained Australian visas under the BIIP, but 18,682 applicants are “in the pipeline”.
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Applications to Australia’s Significant Investor Visa (SIV) program has fallen from an average of 46 a month during the 2015/2016 fiscal year
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