Fund managers are making more trips to China to drum up the SIV program to Chinese multi-millionaires, with some reports stating that at least 30 fund managers have jumped into the business of luring China's wealthy to Australia using a SIV program.

The Associated Press reports that the flow of money into Australia could reach as much A$10 billion a year. “More than 1,000 people, almost all from China, have applied so far, and more are expected after Canada cancelled a similar program in February amid a flood of applications. The number also may be boosted by a government review to hasten approvals. More than 60 funds have been started to capture the money, including by the largest banks in Australia” the report notes.

"These are not your usual equity or private-equity type of investors," said Bill Fuggle, a partner at Baker & McKenzie in Sydney who advises immigrants on the process and asset managers on compliance with visa rules. "Fund managers need to visit China and convince them of investing not just for a visa, but in turn to preserve their wealth and improve their lifestyle."

The pace of visa approvals has stepped up since the Liberal-National coalition government was elected in September, with 282 granted in the 12 months through June, compared with just four in the program's first seven months.

The report notes that the investment inflows from people with approved visas as well as those expected from 610 people on the waiting list totaled A$4.5 billion as of the end of June. About 39 percent of that money went into managed funds as of March, according to data from the office of Michaelia Cash, assistant minister for immigration and border protection.

Migration Alliance has received the following information from TRA:

From 1 July 2014, DIBP has introduced a requirement that skills assessments used to apply for certain skilled visas may not be older than three years from the date of issue.  This is to ensure that the skills held by an applicant are still current at the time of visa application. TRA is seeking further information from DIBP on its policy amendment, which is reflected in Schedules 2 and 13 of the Migration Regulations 1994, including an estimate of the numbers of clients it anticipates will be affected by the change.

TRA is currently examining, as a priority, the implications of the policy for those with a skills assessment issued more than three years ago. This is a complex process.  As you are aware, TRA has changed its programs over time to improve its assessment processes and evidence requirements to ensure it is assessing the skills of applicants against current industry standards (for example, in all our current programs, applicants need an AQF or comparable qualification at the required level in their occupation). Someone who met the criteria under an old program may not meet the criteria of the current program for a specified country and occupation.

TRA is unable simply to re-issue a skills assessment outcome letter with a revised date. To satisfy DIBP requirements, it must establish the currency of the skills held and as noted above, this can be more than just checking a person has recently worked in an occupation. TRA is currently looking at whether it can streamline processes for those with a TRA skills assessment that is no longer accepted by DIBP. When a policy response has been developed, this information will be posted on the TRA website. Until that time, visa applicants with a previous assessment that is no longer accepted by DIBP must apply for a new skills assessment under the program now applicable.

Amidst complaints and media criticism on the dumping of the non-contributory visas for aged relatives namely the aged parent, aged dependent relative, remaining relative and carer visas, Immigration Minister Scott Morrison has said that the visa had to go for now but indicated he could reinstate applications in future, according to a report in the Herald Sun.

Speaking to the Herald Sun, the Minister said that he recognised the decision was disappointing but the categories had to go because the waiting lists had blown out to as long as 16 years for some of the categories.

“Given the queues that had developed, it would be inappropriate to accept further ­applications and give people the false expectation that visas could be granted soon,” Mr Morrison said, speaking to The Herald Sun.

He said it was his “sincere hope” he could reinstate applications once the backlog was under control. Until then, visas would only be issued for previous applicants. The Ministers has however provided no further details.

One of the major complaints, as noted in the news report is that, families were caught off-guard: “Families are being forced to pay almost $50,000 to bring an elderly parent to Australia and care for them in their twilight years after a much cheaper $5000 visa closed, catching some off-guard…people were given just hours’ notice on a government website on May 30 of the closure of the applicants that day” reports the Herald Sun.

According to the Herald Sun, Theresa Webster, an only child, brought her British mother, Helen, 86, to Melbourne from South Africa last month to care for her, rather than send her to an aged care home in a country where she has no family to visit her. But applications closed ­before they touched down and Ms Webster said she would have to send her mother back, as she was unable to pay the ­increase from $5000 to $50,000.

Migration Alliance has made the following suppklementary submission today in relation to the Independent review of the Office of the MARA.

Migration Alliance further submission for the Independent Review of the Office of the MARA

Annexure A

The following email was sent to an RMA today.  It is going to be so much fun determining which TRN corresponds to which client so that we can refund them $3.50.

Dear Sir/Madam,