5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Nov 18th 2008, 1:16 pm
#721
Forum Regular
Joined: Jul 2008
Posts: 128
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Another day has gone in vain. Well, what can I say. Last week I went to a job interview. When the manager asked my PR status, I said my VISA allowed me to work for full time. She kept questioning on the VISA type that I held. I didn't panic and started telling her the story and explain why I stuck with Bridging VISA for more than a year. Afterwards, it took up almost 10 mins to finish this simple question which I must clarify carefully.
It is absolutely humiliated. And I don't show much confidence when they compared my profile with others who has obtained PR.
It is absolutely humiliated. And I don't show much confidence when they compared my profile with others who has obtained PR.
Nov 18th 2008, 5:56 pm
#722
Forum Regular
Joined: Apr 2008
Location: Durban, South Africa
Posts: 180
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Hi Kenwen
It must have been awful, I know how irritated I am with having to explain the situation to every colleague and aquaintance who asks me about our visa application and why we have not left for Australia yet.
It must have been awful, I know how irritated I am with having to explain the situation to every colleague and aquaintance who asks me about our visa application and why we have not left for Australia yet.
Nov 18th 2008, 6:07 pm
#723
Forum Regular
Joined: Jul 2008
Posts: 128
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Hi Lyse, thanks for your warm comfort. You should know how we felt. Is just that sometimes you work so hard but objectively things turn out as the other way round. I have spent 4 year studied in the UNI (which is called self development and cost fortune) and my career is now ruining because of this.
Nov 18th 2008, 6:20 pm
#724
Reg. Migration Agent
Thread Starter
Joined: Jan 2003
Location: Inner Western suburbs of Sydney
Posts: 4,483
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Hi Lyse, thanks for your warm comfort. You should know how we felt. Is just that sometimes you work so hard but objectively things turn out as the other way round. I have spent 4 year studied in the UNI (which is called self development and cost fortune) and my career is now ruining because of this.
Advice on $100,000 designated investment
The National Office of the MIA has been conferring with DIAC on the Designated Investment issue to obtain advice on resolving the impasse on this matter. We are now pleased to be able to provide the advice we have received.
As many of you are aware, there are currently many GSM applicants who have claimed 5 bonus points by declaring their willingness to make the specified $100,000 investment, but whose applications are languishing in limbo because the four state government authorities have withdrawn from the designated security scheme. The four authorities are: New South Wales Treasury Corporation; Queensland Treasury Corporation; South Australian Government Financing Authority; Northern Territory Treasury Corporation.
It is still possible for those visa applicants to make the $100,000 investment in one of those designated securities, without waiting for a letter from DIAC inviting them to make the investment.
DIAC advice is that if an applicant wants to pursue the option of claiming the 5 bonus points for a designated security, the applicant must show evidence that the investment meets the requirements of Regulation 2.26(2):
•- the investment matures in not less than 1 year from the date of issue;
•- repayment of the principal is guaranteed by the issuing authority;
•- the investment in the security cannot be transferred or redeemed before maturity except by operation of law or under other conditions acceptable to the Minister [there are currently no such conditions identified];
•- the investment in the security is open to the general public at commercially competitive rates
•- the Ministers is satisfied that the Commonwealth will not be exposed to any liability as a result of the investment
Further comment later.
Cheers,
George Lombard
Nov 18th 2008, 6:59 pm
#725
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
My hunch is that this means evidence of a suitable investment of A$100k with (say) the QTC, even if not called a Designated Invesment, and even if not supported by a completed form 1134, will facilitate the desired outcome - ie granting 5 bonus points.
Fingers and toes crossed ...
Best regards.
Fingers and toes crossed ...
Best regards.
Nov 18th 2008, 7:01 pm
#726
Just Joined
Joined: Jun 2008
Posts: 24
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
News Flash from the Migration Institute of Australia:
Advice on $100,000 designated investment
The National Office of the MIA has been conferring with DIAC on the Designated Investment issue to obtain advice on resolving the impasse on this matter. We are now pleased to be able to provide the advice we have received.
As many of you are aware, there are currently many GSM applicants who have claimed 5 bonus points by declaring their willingness to make the specified $100,000 investment, but whose applications are languishing in limbo because the four state government authorities have withdrawn from the designated security scheme. The four authorities are: New South Wales Treasury Corporation; Queensland Treasury Corporation; South Australian Government Financing Authority; Northern Territory Treasury Corporation.
It is still possible for those visa applicants to make the $100,000 investment in one of those designated securities, without waiting for a letter from DIAC inviting them to make the investment.
DIAC advice is that if an applicant wants to pursue the option of claiming the 5 bonus points for a designated security, the applicant must show evidence that the investment meets the requirements of Regulation 2.26(2):
•- the investment matures in not less than 1 year from the date of issue;
•- repayment of the principal is guaranteed by the issuing authority;
•- the investment in the security cannot be transferred or redeemed before maturity except by operation of law or under other conditions acceptable to the Minister [there are currently no such conditions identified];
•- the investment in the security is open to the general public at commercially competitive rates
•- the Ministers is satisfied that the Commonwealth will not be exposed to any liability as a result of the investment
Further comment later.
Cheers,
George Lombard
Advice on $100,000 designated investment
The National Office of the MIA has been conferring with DIAC on the Designated Investment issue to obtain advice on resolving the impasse on this matter. We are now pleased to be able to provide the advice we have received.
As many of you are aware, there are currently many GSM applicants who have claimed 5 bonus points by declaring their willingness to make the specified $100,000 investment, but whose applications are languishing in limbo because the four state government authorities have withdrawn from the designated security scheme. The four authorities are: New South Wales Treasury Corporation; Queensland Treasury Corporation; South Australian Government Financing Authority; Northern Territory Treasury Corporation.
It is still possible for those visa applicants to make the $100,000 investment in one of those designated securities, without waiting for a letter from DIAC inviting them to make the investment.
DIAC advice is that if an applicant wants to pursue the option of claiming the 5 bonus points for a designated security, the applicant must show evidence that the investment meets the requirements of Regulation 2.26(2):
•- the investment matures in not less than 1 year from the date of issue;
•- repayment of the principal is guaranteed by the issuing authority;
•- the investment in the security cannot be transferred or redeemed before maturity except by operation of law or under other conditions acceptable to the Minister [there are currently no such conditions identified];
•- the investment in the security is open to the general public at commercially competitive rates
•- the Ministers is satisfied that the Commonwealth will not be exposed to any liability as a result of the investment
Further comment later.
Cheers,
George Lombard
Thanks!
Liz
Nov 18th 2008, 7:07 pm
#727
Forum Regular
Joined: Jul 2008
Posts: 128
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
News Flash from the Migration Institute of Australia:
Advice on $100,000 designated investment
The National Office of the MIA has been conferring with DIAC on the Designated Investment issue to obtain advice on resolving the impasse on this matter. We are now pleased to be able to provide the advice we have received.
As many of you are aware, there are currently many GSM applicants who have claimed 5 bonus points by declaring their willingness to make the specified $100,000 investment, but whose applications are languishing in limbo because the four state government authorities have withdrawn from the designated security scheme. The four authorities are: New South Wales Treasury Corporation; Queensland Treasury Corporation; South Australian Government Financing Authority; Northern Territory Treasury Corporation.
It is still possible for those visa applicants to make the $100,000 investment in one of those designated securities, without waiting for a letter from DIAC inviting them to make the investment.
DIAC advice is that if an applicant wants to pursue the option of claiming the 5 bonus points for a designated security, the applicant must show evidence that the investment meets the requirements of Regulation 2.26(2):
•- the investment matures in not less than 1 year from the date of issue;
•- repayment of the principal is guaranteed by the issuing authority;
•- the investment in the security cannot be transferred or redeemed before maturity except by operation of law or under other conditions acceptable to the Minister [there are currently no such conditions identified];
•- the investment in the security is open to the general public at commercially competitive rates
•- the Ministers is satisfied that the Commonwealth will not be exposed to any liability as a result of the investment
Further comment later.
Cheers,
George Lombard
Advice on $100,000 designated investment
The National Office of the MIA has been conferring with DIAC on the Designated Investment issue to obtain advice on resolving the impasse on this matter. We are now pleased to be able to provide the advice we have received.
As many of you are aware, there are currently many GSM applicants who have claimed 5 bonus points by declaring their willingness to make the specified $100,000 investment, but whose applications are languishing in limbo because the four state government authorities have withdrawn from the designated security scheme. The four authorities are: New South Wales Treasury Corporation; Queensland Treasury Corporation; South Australian Government Financing Authority; Northern Territory Treasury Corporation.
It is still possible for those visa applicants to make the $100,000 investment in one of those designated securities, without waiting for a letter from DIAC inviting them to make the investment.
DIAC advice is that if an applicant wants to pursue the option of claiming the 5 bonus points for a designated security, the applicant must show evidence that the investment meets the requirements of Regulation 2.26(2):
•- the investment matures in not less than 1 year from the date of issue;
•- repayment of the principal is guaranteed by the issuing authority;
•- the investment in the security cannot be transferred or redeemed before maturity except by operation of law or under other conditions acceptable to the Minister [there are currently no such conditions identified];
•- the investment in the security is open to the general public at commercially competitive rates
•- the Ministers is satisfied that the Commonwealth will not be exposed to any liability as a result of the investment
Further comment later.
Cheers,
George Lombard
Thanks for your inspiring post. To us it is like a cardiotonic!!!!
I check MIA's site but I couldn't find the same news. I guessed either it is too new or otherwise I am not a registed agent to be able to log in the system.
Anyway, is that mean applicants can just require designated bond without any official announcement from DIAC? What if someone hasn't been allocated CO?
Nov 18th 2008, 7:31 pm
#728
Forum Regular
Joined: Jul 2008
Location: Melbourne, Austrlia
Posts: 169
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
I received email from my agent stating
"Finally Good News, Capital Investment 100K Treasury are reopened today for 5 points for your PR"
Don't know what to say...still confusing !!!!
Does that mean.... Resolution is soon !!!
"Finally Good News, Capital Investment 100K Treasury are reopened today for 5 points for your PR"
Don't know what to say...still confusing !!!!
Does that mean.... Resolution is soon !!!
Last edited by sankan1; Nov 18th 2008 at 7:46 pm.
Nov 18th 2008, 7:44 pm
#729
Forum Regular
Joined: Apr 2008
Location: Durban, South Africa
Posts: 180
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
WOW!!!
Nov 18th 2008, 8:22 pm
#730
Just Joined
Joined: Jun 2008
Posts: 24
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
We got an email from our agent today as well - cautiously optimistic!!!
Nov 18th 2008, 9:15 pm
#731
Reg. Migration Agent
Thread Starter
Joined: Jan 2003
Location: Inner Western suburbs of Sydney
Posts: 4,483
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Hi George,
Thanks for your inspiring post. To us it is like a cardiotonic!!!!
I check MIA's site but I couldn't find the same news. I guessed either it is too new or otherwise I am not a registed agent to be able to log in the system.
Anyway, is that mean applicants can just require designated bond without any official announcement from DIAC? What if someone hasn't been allocated CO?
Thanks for your inspiring post. To us it is like a cardiotonic!!!!
I check MIA's site but I couldn't find the same news. I guessed either it is too new or otherwise I am not a registed agent to be able to log in the system.
Anyway, is that mean applicants can just require designated bond without any official announcement from DIAC? What if someone hasn't been allocated CO?
This has come to MIA members only, that's why you haven't seen it before.
I'm happy to offer a clinic tomorrow morning to anyone needing an explanation - please just call us after 10am on _61-2-97990085 - of how this might work but the critical issue is that the money needs to be completely tied up for 12 months. Obviously you and Sankan have the first two slots if you want them.
Alan's guess that this is a way around needing a form 1134 is correct.
Cheers,
George Lombard
Nov 18th 2008, 10:28 pm
#732
darrens1
Joined: Jan 2007
Location: Was Lancashire now Perth
Posts: 150
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
I would imagine that this is good news to a number of us applicants who have been in limbo for in excess of 12 months. This is certainly a positive move forward. I can now discuss options with my agent and get back on track with planning my future.
Nov 18th 2008, 10:32 pm
#733
Forum Regular
Joined: Apr 2008
Location: Durban, South Africa
Posts: 180
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
I am waiting for an official announcement from DIAC or the minister, not prepared to sell my house here until there is some rock solid certainty that the bond scheme has been re-opened and that my CO now wants us to make the investment because everything is in order.
I am hopeful, given the source of the information this time, that this is going mean good news for us all very soon.
I am hopeful, given the source of the information this time, that this is going mean good news for us all very soon.
Nov 18th 2008, 10:35 pm
#734
Just Joined
Joined: Aug 2007
Posts: 25
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
Greate news , 
what a relief. It finally comes.
All the best to your investment and visa grant.
what a relief. It finally comes.All the best to your investment and visa grant.
Nov 18th 2008, 11:41 pm
#735
Forum Regular
Joined: Apr 2008
Posts: 33
Re: 5 points for Investment Bond withdrawn Sept 07?? (PART TWO)
This is extremely exciting news for those of us who can invest!
I have also received the same news from my Agent today. They are telling me that I can go ahead although it has not been officially conveyed by DIAC. I too am cautious and would ideally like this to be shown on the DIAC website! I also find it strange that they are now saying these States will accept the investment if we meet this criteria....what has changed from before? Since Sept 2007 this option was taken away from us and no State would entertain it at all regardless of meeting certain criteria or not!
I would hate to progress this and then find out that DIAC feel we should not have done this until its official and then throw out the visa completely!
A further point, how sure are we that if we invest this money now that it will be safe and the points secured?
I have also received the same news from my Agent today. They are telling me that I can go ahead although it has not been officially conveyed by DIAC. I too am cautious and would ideally like this to be shown on the DIAC website! I also find it strange that they are now saying these States will accept the investment if we meet this criteria....what has changed from before? Since Sept 2007 this option was taken away from us and no State would entertain it at all regardless of meeting certain criteria or not!
I would hate to progress this and then find out that DIAC feel we should not have done this until its official and then throw out the visa completely!
A further point, how sure are we that if we invest this money now that it will be safe and the points secured?
