Australia seems to be attracting a significant number of wealthy millionaires from Asia, so the data suggests from Australia Home Affairs office
A total of 2,264 SIV visas have been approved and a total of A$ 11.3 billion invested in complying investments since 2012 to end of 2019 (oct).
Of these Chinese alone have invested a total of A$ 9.6bn over the years in Australia through SIV visa scheme with each application for a whopping A$5m investment.
| Applicants – top five source countries | Percentage of total visa applications | Percentage of total visas granted |
|---|---|---|
| China | 86.3 | 85.4 |
| Hong Kong | 4.1 | 3.4 |
| Malaysia | 1.3 | 1.8 |
| South Africa | 1.1 | 1.5 |
| Vietnam | 1.1 | 1.3 |
Of all the applications approved 85.4% were chinese and 3.4% Hong Kongers, and others are asian investors.
| SIV | 2012-2015 | 2016 | 2017 | 2018 | Jun 2019 | Oct 2019 |
| Applications | 2573 | 213 | 438 | 341 | 423 | 160 |
| Granted Visas | 879 | 552 | 405 | 183 | 191 | 51 |
| Billion | 4.39 | 7.17 | 9.19 | 10.11 | 11.06 | 11.32 |
The Significant Investor visa (SIV) program is a pathway for significant migrant investment into Australia under the Business Innovation and Investment visa program to carryout investment activity in Australia.
The SIV investor visa scheme was launched on 24 November 2012. The applicant must have invitation and have a genuine intention to live in the State or Territory whose government agency nominates. The investment must be maintained until four year period.
But why australia attracts so many wealthy asians?
Australia over the years has emerged as prime investment and immigration destination for wealthy millionaires due to stable political climate, geographically not far away from mainland china, excellent education system with best universities in the world, highest standards of living and biggest property market.
The Australian states of New South Wales, Queensland and Victoria are the top 3 states benefited from SIV investments with Government sponsorship
| 2015 | 2016 | 2017 | 2018 | 2019 | |
| NSW | 282 | 164 | 117 | <81 | 76 |
| QLD | 45 | 27 | <15 | 10 | 13 |
| VIC | 506 | 338 | 259 | 87 | <93 |
| WA | 29 | 11 | <10 | 5 | 9 |
Source: Dept of Home Affairs – Approved SIV visas with Govt Sponsorship from 2012 to Oct 2019
The Global visa processing times of Australia home affairs office indicates 26 months for investor stream and no standard times available for SIV stream
| Visa | Stream | 75% Of Visas Processed | 90% Of Visas Processed |
|---|---|---|---|
| 188 – Business Innovation & Investment (Provisional) (subclass 188) | Business Innovation | 24 months | 25 months |
| 188 – Business Innovation & Investment (Provisional) (subclass 188) | Investor | 22 months | 26 months |
| 188 – Business Innovation & Investment (Provisional) (subclass 188) | Significant Investor | Unavailable due to low volume of applications. | Unavailable due to low volume of applications. |
| 188 – Business Innovation & Investment (Provisional) (subclass 188) | Premium Investor | Unavailable due to low volume of applications. | Unavailable due to low volume of applications. |
