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Premium investor visa (PIV) to promote innovation

Minister for Trade and Investment Andrew Robb said that direct investment in residential real estate would not be a complying investment under the government’s proposed new Premium Investor Visa (PIV).

The PIV would offer a more expeditious pathway for international investors to permanent residency as compared to the existing Significant Investor Visa (SIV). Under the PIV a 12 month pathway to permanent residency would be available for investors meeting a $15 million threshold in an eligible investment.

At present SIVs are available for applicants making an eligible investment in Australia of at least A$5 million for a minimum of four years.

The Government said it would further enhance this programme to encourage more high net worth individuals to make Australia home and to leverage and better direct additional foreign investment.

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Source: MIA