Victoria’s Significant Investor Visa (SIV) program reopens for business

Following a pause in the processing of applications for Significant Investor Visa (SIV) nomination, Victoria is again open for business.

Processing of applications for Victorian Significant Investor visa nomination under the Commonwealth Government’s new Complying Investment framework resumed from Wednesday 1 July 2015.

Under the new framework, migrant investors must invest:

• at least AUD$500,000 in eligible Australian venture capital or growth private equity fund(s) investing in start-up and small private companies
• at least AUD$1.5 million in an eligible managed fund(s) or Listed Investment Companies (LICs) that invest in emerging companies listed on the Australian Securities Exchange (ASX)  
• a ‘balancing investment’ of up to AUD$3 million in fund(s) or LICs that invest in a combination of eligible assets that include other ASX listed companies, eligible Australian corporate bonds or notes, annuities and real property in Australia (subject to the 10% limit on residential real estate).

Victoria’s visa nomination policy will not change under the revised program.

Applicants are asked to show evidence of economic contribution to Victoria in two investment categories (Venture Capital and one other) within their complying investment:

• Venture Capital – by demonstrating that the venture capital and private equity (VCPE) fund is actively sourcing investment in Victoria, or the VCPE fund provider maintains an office in Victoria
• Emerging Companies and Balancing Investment – by demonstrating that Victorian investment is included in the chosen investments, or the managed fund provider maintains an office in Victoria.