Skilled Migration: Bonus Points for Capital Investment Withdrawn

[Alan Collett]

In a shock move, all the State and Territory Treasury Corporations that were accepting capital investments from skilled migrants have announced their withdrawal from the program:
Go Matilda - Your Gateway to Australia - News

Best regards.

[murwullambah]

I have just been reading about this on another forum, it will affect us as we need the 5 points, surely they cant move the goalposts after all the time money and stress we have invested, what will happen to our cases, help pleasewe applied 24 july

[Gollywobbler]

Originally Posted by murwullambah

I have just been reading about this on another forum, it will affect us as we need the 5 points, surely they cant move the goalposts after all the time money and stress we have invested, what will happen to our cases, help pleasewe applied 24 july

Hi M

This does not affect me, but I absolutely agree with the points you have made and my heart goes out to you.

I too find it hard to believe that they think they can justify stealing your application fee - in effect - via subsequently shifting the goalposts on you in the way that they suddenly have.

What are DIAC's proposals for refunding every cent that their latest antic has caused people acting in the utmost good faith to waste? The skills assessment fee needs to come back, so does the visa application charge, so do any Agents fees plus out of pocket expenses like Meds and courier charges plus interest, it seems to me.

If the new Government does not have the decency to refund ALL the wasted money and to do it swiftly and without argument, then as far as I am concerned their Banana Republic In the Sun is simply NOT worth the hassle or the financial and emotional risk. Let them stunt their own economic prosperity if they wish - I can't see why you or I should shoulder that for them.

What is the point of another application? They can't be trusted not to pull the rug out from under that as well. Are they offering to handle these alternative applications within the original fee? Have they persuaded the MIA that all RMAs should follow suit and do the new applications at no additional cost to the client as well?

DIAC were heavily hammered as a result of a couple of high-profile public inquiries about 3 or 4 years ago into the way they conduct business. The independent assessors told them in no uncertain terms to pull their socks up and - for a short while - they did. Memories within DIAC appear to be very short, however.

Gill

[Selah]

We're in the same point. 5 Points absolutely necessary. I'm wondering if that's why our application fee was taken twice and refunded once without receipting. They still have £911 but have to wonder if they meant to refund it. I haven't heard back from our agent. I actually told them. I can't believe this is happening as we couldn't afford to pay additional agents fees and my job doesn't appear to be on the south australian sponsorship. The ridiculous thing is that my husband does the same thing as me - has had countless verbal job offers on our visit and because he doesn't have an acutal degree can't get a positive assessment through vetassess.

The irony as well is we just heard we could get our kids into the school we wanted them to attend.

Liz

[becky c]

OMG!!! I feel physically sick!

I lodged my investment on 23rd November, I've not received the paperwork yet, I guess there's a chance they wont honour it?

I've emailed my agent and the state I invested with for some clarity on this.

Bec x

[Life on easy street]

Surely it is the regulations in place the day they receive your application?
That apply to your visa application.

Unless they specifically state it is a retrospective regulation.

[becky c]

It doesn't look like it, I think the issue is that its not DIAC who have changed the rules, rather the states and territories have withdrawn from the programme. So there is nowhere for applicants to invest their money.....I think so anyaway.....so they cant get their extra points. In my opinion, DIAC should give all those affected the 5 points just for lodging the 'intention' to invest, otherwise it seems very unfair. Still I guess at the end of the day they can do what they like,

I'm panicking in case they return my funds and say hard luck...

Bec x

[fatpom]

The timing of this decision looks suspiciously like the effects of political change? If so its come pretty fast.
Whatever the reason of it... the playing field is now going to be more level for people from poorer countries.
It was an open secret that the capital investments program gave an advantage to people from western (ie anglosaxon) countries.
Unfortunate for those caught up in it but from my perspective its more like the meritocracy I'd like to live in, but know I never will. :)

[Gollywobbler]

Originally Posted by fatpom

The timing of this decision looks suspiciously like the effects of political change? If so its come pretty fast.
Whatever the reason of it... the playing field is now going to be more level for people from poorer countries.
It was an open secret that the capital investments program gave an advantage to people from western (ie anglosaxon) countries.
Unfortunate for those caught up in it but from my perspective its more like the meritocracy I'd like to live in, but know I never will. :)

Hi Fatpom

I think they closed the avenue of making a capital investment in return for 5 bonus points when they did the visa shake-up on 1st Sept 2007.

The latest move seems to be a reaction to the way the Judge criticised DIAC over its handling of the NAB scandal recently.

The RMAs over on BE have been suggesting today that for Britons, the solution may be to submit a new visa aplication and this time, sit the IELTS English test which is potentially worth an extra 25 points, I believe.

When something like this happens, Alan Collett generally spends a day or two mulling through all the possible alternative solutions and the implications of each one. Once he and his team are happy that they have covered all bases, Alan then normally produces a factshheet outlining the alternative possibilities.

Cheers

Gill

[Alan Collett]

I recommend that those who are applying for a subclass 136 visa and who have been intending to make the A$100,000 investment to attain the points pass mark should revisit the list of occupations that can facilitate a State Nomination.

I foresee that the strategy would be to advise the Skilled Processing Centre that you are withdrawing your claim as to bonus points for making the capital investment, and that you wish your subclass 136 application to be assessed as a subclass 137 (applications are made for visa classes, not subclasses, and subclasses 136 and 137 fall within class BN).

I will extract links to the State and Territory Government Wanted Skills Lists and will post them here when I have them all to hand.

Best regards.