The Australian Significant Investor Visa will be redesigned according to Immigration Minister Scott Morrison. The purpose for reforming this Australian visa is to benefit businesses and start-ups by making more investments and resources available. Apart from that, Mr. Morrison said that the current investment guidelines attached to the visa scheme are poorly targeted and that the processing time of the visa is too slow. The investment rules need to be changed for the long term benefit.
The Special Investor Visa scheme, introduced by the Gillard government last year, is available for business individuals who are able and eager to invest $5 million in Australia. The visa is an opportunity for individuals looking for a fresh source of capital; most applicants of this visa come from Asian countries, specifically in China.
According to Immigration Minister Scott Morrison, his department will be working with the Trade and Investment department regarding the redesigning and development of the guidelines for the Significant Investor Visa scheme. Mr. Morrison is also working with Education Minister Chris Pyne regarding international student visas.
Know more about this story at: http://www.businessspectator.com.au/article/2013/10/24/technology/visa-program-could-reshape-australias-tech-sector