Nizic was at Burnley during last season but was unable to sign for the club until now, but the work permit issues have now been overcome allowing the 18-year-old Australian to complete a move to Turf Moor.
He'd previously spent a year at Portsmouth without being able to sign but Nizic, who has Australian and Croatian parents, has been able to secure a family work permit.
Goalkeeping coach Billy Mercer was delighted and said: "Daniel has been on our radar but his parents have done a great job, along with Lee Hoos, in getting his visa sorted and he is hear for the long haul as one for the future.
"It has been a big turnaround for us this summer, with Lee going off to derby, Brian leaving after ten years and things now working out for Job.
"With experienced goalkeepers leaving it was important that we got replacements, not only for the next couple of years but hopefully beyond that. We now have two 24-year-olds, a 7-year-old and Daniel. Luckily we've got all our targets and we're delighted to formally welcome them all to the club."
Source: Clarets Mad