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(EMAILWIRE.COM, February 09, 2009 ) Australia - Forget the big stars of the show - Melbourne and Sydney - if you are thinking of making that move to start a new life down under, now could be a good time to consider South Australia as the Government has just reintroduced their capital investment bondÂ…
If you lodged your visa application before September 1st 2007, you will be very interested to learn that the South Australian Government has finally reinstated the capital investment pathway to Australian skilled migration.
After 13 months of waiting, those skilled migrants wishing to move to Australia Australia using the capital investment scheme can now finally proceed with their Australian visa application.
On the 1st September 2007, as part of changes to the Australian General Skilled Migration programme, the ability for individuals seeking a skilled visa under the old skilled program to be granted five bonus points for making a capital investment with a State or Territory Government Treasury Corporation was withdrawn.
The removal of the capital investment scheme meant that applications for skilled migration lodged after September 1st, 2007 could no longer use the capital investment scheme - which asks that a minimum of £44,000 is invested for at least one year in a nominated Australian bond - to gain bonus points towards their application.
Thus, applicants have been in limbo ever since, with thousands of hopeful migrants left without a path to their new life.
But now, those hopefuls are celebrating with news that the South Australian Government Financing Authority(SAFA) has officially reinstated the scheme, but only for those who applied under that category before 1st September 2007.
As it has been over a year since applications for migration under this category have been allowed, eligible applicants are being warned not to use the old information paper and application form as SAFA has changed its Registry provider to Link Market Services.
They are also being advised to consult an emigration expert to see if they are still eligible for a skilled visa. Unsurprisingly, the lifting of these restrictions has led to a flood of new enquiries from wannabe migrants (many from the UK desperate to escape the weather and certain that struggling through the credit crunch would be easier in the sun) so visa processing times could be drastically lengthened.
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