Capital Investment Scheme

[Alan&CatherineSaunders]

Our application was, it seems, this far from being approved when *this* happened:

Capital Investment Scheme for pre-1 September GSM visa applications

Prior to 1 September 2007 GSM visa applicants could earn 5 bonus points if they deposited at least $100,000 in a designated security for a term of not less than 12 months. The NSW, Queensland and NT Treasury Corporations and the SA Government Financing Authority had been State and Territory authorities participating in these arrangements (the Western Australia Government withdrew from 1 July 2007).
Each of the participating States and Territories have notified the department of their withdrawal of support for the use of treasury bonds for this purpose. This means that no State or Territory will issue a security in which an investment is a ‘designated security’. There is no compulsion on States or Territories to participate in the scheme. Whether the State or Territory government authorities actually issue a security is ultimately a matter for them to determine.
The new visa arrangements for the GSM Programme introduced from 1 September 2007 did not include the provisions for the lodgement of designated securities. The closure of the arrangements will only affect visa applications lodged before 1 September 2007.



(Source: What's new? – Professionals and other Skilled Migrants – Workers – Visas & Immigration)



We have been told by our agent that ours is one of 4500 applications currently shelved 'indefinately' until this is resolved. However the immi website doesn't mention anything about things being resolved, only that all states have withdrawn from the scheme. We wonder just what is actually happening with regard to the scheme and, more importantly, our application.




Is anyone else affected by this? If so, have you been told anything of use? We have been adviced to consider re-applying in order to speed things along which is a pain, as the GSM criteria under which we applied last April have changed, so a re-application has to be done from scratch; skills assessment and all.



Thanks.

[Gollywobbler]

Hello there

Welcome to Poms in Oz.

Is anyone else affected by this? If so, have you been told anything of use? We have been adviced to consider re-applying in order to speed things along which is a pain, as the GSM criteria under which we applied last April have changed, so a re-application has to be done from scratch; skills assessment and all.

Is anyone else affected by this?

Yep! 4,500 others according to your agent!

Seriously, though, the man with his finger on this pulse is Alan Collett, the boss of Go Matilda. Please see this article by Alan.

Go Matilda - Your Gateway to Australia - News

Please click the underlined link in the article to get to the earlier one.

Alan has also written to the new Minister for Immi about a number of current hot potatoes in "the migration game", including this one, and he does ted to be able to make himself heard.....

I am not directly involved in this particular problem. However I believe that the 'message' coming from Alan and other Agents of similar calibre is still, "Sit tight and do nowt for the moment. Give the new Government time to bed in and so forth."

If it were me, I don't think I would be jumping around at this stage. Is age an issue for you? Even if it is, I think there will have to be concessions about that. But I think that if an applicant voluntarily dumps an application in favour of a new one, then any age-issue will become harder to argue on his/her behalf in the event that the second application fails for some reason.

If it were me, I'd be insisting on a far more sophisticated level of discussion with my agent.....

Best wishes

Gill

[markjohn]

hi there,
just to let you know that you are not alone.
we got acknowledgement of visa application in december and the next day were told that capital investment was withdrawn.
we are with the emigration group in chester and they have assured us to sit tight as the new minister has to make an announcement soon and the figure of people in our position is anywhere between 4000 and 12000 globally and there is a lot of pressure being put on the immigration minister to address this problem.
we have thought about reapplying under a different visa but this will mean starting again and after 13 months of being in the system i just know that as soon as we reapply the government will make a decision and let the capital investment applicants in the system to go ahead.
we feel that we are in limbo land at the moment with the house all ready to be sold and every day at work frustrating as we are desparate to start our new lives in adelaide.
i sent an email to alan collett of go matilda a couple of weeks ago to get a second opinion on our position and he agreed with our agent to sit tight as we are so close.
so hang in there

mark and sara

[jo90]

Hi!
We too are affected by this. Our agent has told us that some people are gonna wait and see (although no one knows how long the wait will be) and others have started to re-apply.At first we were really p'd off by the news however it has made us realise how much we want the move - I thought I knew I wanted it now I know I want it!
Our last conversation with our agent was to go ahead with our medicals and for me (main applicant) to sit the english test. That way it gives us the option to re apply gaining the extra 5 points by the english test or still going ahead with our current application, depending on any news to come.
I know it's a frustrating time not knowing - we feel the same - pm me if you need a sound off and please keep everyone posted on any news!
love
Jo x