Deputy Premier Andrew Stoner said that the Significant Investor Visa scheme, which focuses on promoting high value migration into the State, was one of the ways the NSW Government was seeking to capitalise on rising demand in Asia in order to boost the NSW economy.
“We have been actively promoting the Significant Investor Visa in key overseas markets like China and were first to develop a ready-to-go designated investment vehicle for the Significant Investor Visa in the form of NSW Waratah Bonds”, Mr Stoner said.
“So far 52 NSW nominated applicants have had their Significant Investor Visa approved by the Commonwealth, with investment in Waratah Bonds totalling $155 million.
Mr Stoner also announced plans to streamline two key migration visa pathways to help attract more overseas entrepreneurs and investors to the State and to generate more jobs and investment.
The Business Talent (Permanent) Visa and Investor Retirement (Temporary) Visa include the following eligibility conditions:
Business Talent (Permanent) (Subclass 132) Visa
- A business plan that demonstrates business investment and job creation;
- Investment of $1.5 million and a commitment to create 5 new FTE jobs for applicants whose business will be in Sydney (down from $3 million and 5 FTE jobs);
- Investment of $1 million plus a commitment to create 3 new FTE jobs for applicants whose business will be in regional NSW (down from $2 million and 3 FTE jobs).
Investor Retirement (subclass 405) (Temporary) Visa
- Assets of at least $750,000;
- Investment of a further, minimum $750,000 into a designated investment vehicle (for instance, Waratah Bonds in NSW); and
- Adequate health insurance and a certain level of net income.
For applicants seeking to live in regional Australia, the asset requirement and the investment requirement are both $500,000 instead of $750,000.
Restrictive conditions removed from NSW’s requirements include:
- The need for applicants to provide a business or investment plan consistent with their skills and experience.
- The requirement for applicants to undertake a research visit to NSW.