As of 1 September 2014, New South Wales has made it easier for significant investors to secure state nomination.
Previously, significant investors had to invest 30 percent of their complying investments, or AU$1.5 million, in NSW Waratah Bonds. This presented an obstacle to some investors who wanted to live in New South Wales.
In order to be more competitive and attractive to investors, New South Wales has dropped this requirement, and Significant Investor visa applicants can now invest 100 percent of their investments in complying investments of their choice.
A broad range of investments are complying investments for the purposes of applying for the Significant Investor visa, including:
- government bonds issued by the Australian Government or a State or Territory government;
- ownership interests in Australian proprietary companies not listed on the Australian Stock Exchange; and
- certain managed investment funds regulated under Australia’s corporations law.
This is good news for significant investors looking to migrate to Sydney or elsewhere in New South Wales, who will now be able to choose how to invest every dollar of their complying investment.