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Immigration Daily News New applications for Class UY (Investor Retirement) Visas close tomorrowAustralian Immigration Daily News
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New applications for Class UY (Investor Retirement) Visas close tomorrow
Class UY no longer aligns with Australia’s economic priorities and will be closed.
The closure of the Class UY visa, which consists of one visa subclass, the Subclass 405 (Investor Retirement) visa, was announced in the 2018-19 Federal Budget, as part of the establishment of a pathway to permanent residence for current holders of the Retirement (Temporary)(Class TQ) visas and the Class UY visa.
Current visa holders can apply to renew their visas, however the UY class is closed to new applicants from midnight tomorrow. No more new applications are permitted starting 1 June, 2018.
To read the legislation https://www.legislation.gov.au/Details/F2018L00674/Download
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