5 points for Investement Bond withdrawn Sept 07??
 

Can somebody please clarify whether or not we have to invest $100,000 dollars into the country or not we are confused:confused:

Our agent had advised us back in May to go down this route to get an extra 5points on the visa application allowing us qualification for the 136 MODL.

Today i spoke to our agent for the first time in a while and ive been told certain states have dropped this investment bond however there was no detail from South Australia where we are heading so can anyone throw some light on this for us please?

Also do we still get the 5 points from the original application as its not our fault they may or may not have withrawn this option????

The main application was submitted in July

Thanks Pomerz

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Yes, DIAC withdrew the option to get 5 extra points Via an investment bond in the Septempber 2007 changes, however if you applied for a 136 before September 2007 you should be OK for the points. Not sure how the investment thing would work though if the states no longer back it.

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi, as far as I'm aware you could claim the 5 points by investing $100,000AUD if you submitted your 136 visa application before Sept 1st, which you did :thumbsup:
Your case officer should request this investment from you shortly before your visa is granted (assuming you have passed all the visa criteria) and then you decide where to invest the money, pay them, then prove to your CO that you have paid in full. If certain states have withdrawn this option, then I assume you will have to invest in one of the remaining ones instead.
Hope this helps,
Beth x x :wub:

Re: 5 points for Investement Bond withdrawn Sept 07??
 

you never had to invest in the state you were moving to, so even if SA have withdrawn theirs you'll be ok.

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Yes....you decide where to invest your money.......but obviously if some states are withdrawing this option there will be less choice. As hereshopping said, you don't have to invest in the state you are moving to.
Beth x x :wub:

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Thanks people my agent said 3 of 6 had withdrawn the investement and the 3 remaining had yet to reply to the question so i suppose we will just sit tight, good to hear we may still be able to claim either way though:rofl:

Cheers :beer:
pomerz

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi Pomerz,

WA dropped out of the scheme in June or July and others are following however afaik the NT is still participating as they're accepting a statutory deposit from one of our clients today. There is a massive issue with the scheme unfortunately since there seems to have been some fraud associated with the National Australia Bank here issuing undocumented loans and that may explain the delay in getting replies. I would be ringing the relevant treasuries and I would do it soon. If none of the treasuries are co-operating then you can't score the 5 points.

Cheers,

George Lombard

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi George,

Where can I check if VIC is participating or not with $100k investment? I might have a client going through that route if he doesnt score required level of English. It is a pre-Sept application.

Cheers,

Jag

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi we recently lodged our investment bond with South Australia without any problems. Their rate was good too.

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi Jag,

Personally I would use the contact details in Booklet 6.

Cheers,

George Lombard

Re: 5 points for Investement Bond withdrawn Sept 07??
 

We applied in July, received Ack, just completed meds and awaiting pccs. We need the 5 points for investment to meet the 120 point requirement. Is there a danger that this option could be closed off if trend for states opting out of the scheme continues and there's no where left to invest the money? Hopefully it won't come to that (surely someone wants our money!!) but seems unfair to move the goalposts in the middle of the game.

Someone reassure me. Please!

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi marwood

I am in the same boat, I appreciate if some experts or knowledgeable persons shed more light on this issue.

Is it possible that all states decide to turn down the migration investment capital? I have thought before that such scenario will not happen. DIMIA say nothing about the outcome in this case.

If yes, I would say that the migration process is not transparent and unfair. Why should someone count on the 5 points bonus (investment capital), submits the skilled migration application, undergoes the medical check-up and suddenly all states decide to turn down the migration investment capital.

Thanks.

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Dear M and B,

There is no indication that all the treasuries are dropping out. However if the scheme is badly affected by the alleged fraud described in http://britishexpats.com/forum/showthread.php?t=495035 then there might be changes. Your 5 points depends on the co-operation of one of the designated treasuries. This is just the law. DIAC doesn't care. However as I mentioned to Jag it's possible to contact all the designated treasuries and confirm their current policy and, importantly, make sure you know who will give the best interest rate. If there's only one treasury participating then I'm sure the interest rate will trend towards zero :-(

Cheers,

George Lombard

Re: 5 points for Investement Bond withdrawn Sept 07??
 

George Thanks for the advice.

I had asked my agent originally how this was paid how it was traced and then how it was returned.

This was in light of such a large investment to a body i knew nothing about so im even more worried when you mention the 'F' word (fraud). My agent had told me the goalposts couldnt be moved and the 5 points would still be awarded as it wasnt our fault as stated by a previous post that the rules had changed post application.

If indeed we cant claim those 5 points we cant have the visa due to the fact we now amass only 115 points:ohmy:

All really concerning at the minute so i think i need to contact my people tomorrow to find out if we have a plan B.

Any further thoughts people ?:huh:

Re: 5 points for Investement Bond withdrawn Sept 07??
 

Hi Pomerz,

Talk to agent. Withdrawal of all the treasuries is really a worst case scenario.

Obvious plan B is to lodge another application using the IELTS option for 25 English points. Marks are deducted for spelling and punctuation but not neatness afaik :-)

If age or other points issues are against you then plan C is to use your MODL occupation for an STNI nomination if you're going to SA - a 136 application is also a 137 application so there's still time.

Cheers,

George Lombard