Most Read Contributor in Australia, September 2016
Further to our previous article on the Significant Investor Visa
(SIV), featured in the latest issue of
Jade, Andrew Stoner (the Deputy Premier of New South Wales),
has officially announced1 a change to the state's
nomination requirements on 26 August 2014. From 1 September 2014,
applicants wishing to obtain NSW nominations will no longer need to
make mandatory investments into NSW Waratah Bonds.
As some of our readers might already be aware, applicants for
SIVs are required to obtain nomination from the government of the
Australian state or territory where they wish to reside before
lodging a visa application. Each Australian state and territory has
different requirements for nomination. Prior to this change, the
New South Wales Government required potential applicants to invest
at least AUD $1.5 million in NSW government-issued Waratah Bonds
for a minimum term of four years, as part of their minimum
investment of AUD $5 million.
Being the only state government that imposed a mandatory bond
investment requirement, NSW faced fierce competition for
investments from the neighbouring Victorian Government, which has
noticeably more relaxed nomination requirements. The removal of
this restriction will greatly improve the NSW Government's
competitiveness as well as create significant benefits for
potential SIV applicants. Going forward, investors wishing to
settle in NSW will be able to move away from low-yield government
bonds and gain greater flexibility to choose their preferred
Unfortunately, this change does not benefit investors who
successfully obtained a nomination from the NSW Government prior to
1 September 2014. These applicants are still required to make the
AUD $1.5 million investment into Waratah Bonds as previously
declared in their application.
NSW boasts the second largest number of SIV nominations amongst
all States and Territories in Australia, with 420 invitations
issued between 24 November 2012 and 31 July 2014. It is only topped
by Victoria with 733 invitations during the same period.
1Hon. Andrew Stoner MP, Deputy Premier of NSW,
'NSW Streamlines Significant Investor Visa', 27 August
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