The NSW Government’s efforts to attract more overseas investors through the Significant Investor visa (SIV) have generated a AU$50 million boost to NSW’s economy which will help to meet key infrastructure needs.
Nineteen successful NSW nominated investors have been granted a SIV by the Department of Immigration and Border Protection. The investment from these nominees totals $56.5 million in NSW Waratah bonds and an additional $38.5m in Australian companies.
In total, NSW has nominated 261 potential migrants for the Significant Investor visa.
If all applicants who have been nominated by NSW to date are granted a SIV by the Commonwealth, a minimum AU$391.5 million will be paid into NSW Waratah Bonds.
Every dollar invested in these bonds goes to support the key infrastructure needs of NSW such as the North West Rail Link, WestConnex and the Pacific Highway upgrade.
NSW was one of the first Australian States to develop a ready-to-go designated investment vehicle for the new visa in the form of NSW Waratah Bonds.
The NSW Government worked closely with the Commonwealth to develop the new visa pathway, which started last November.
The new visa aims to better position Australia to compete on a global scale for high net worth individuals seeking migration.
Investors are required to invest AU$5 million in complying investments for a minimum of four years before being eligible to apply for a permanent visa.
NSW nominated applicants are required to invest a minimum of 30 per cent of this, or AU$1.5 million, in NSW Waratah Bonds.
For more information on the Significant Investor Visa click here.
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