Australia Golden Visa, has stolen the limelight these days. Want to know why? Come along, and know what’s the buzz about it. Australia has risen to prominence as one of the most sought-after immigration destinations globally. Every year, a substantial number of High Net Worth Individuals (HNWIs) choose to relocate to Australia, lured by the exceptional quality of life and the delightful environment it offers.
In 2012, the government established this Australian Significant Investor Visa, also known as the Australia Golden Visa. This program provides a clear way for High Net Worth Individuals to achieve Permanent Residency in Australia through investment immigration. While there is no direct Citizenship by Investment program in Australia, individuals can apply for it after living there for 3-4 years, including at least one year of Permanent Residency.
Read the article till the end because here you will find overall information about the Australia Golden Visa. Its eligibility criteria, cost, and much more!
So as I said, Australia’s Golden Ticket visa is also known as the Significant Investor provisional visa, which allows successful applicants to stay in Australia for up to five years by investing in approved funds. This visa also serves as a pathway to apply for permanent residency (PR) in Australia.
How the Australia Golden Visa Works
The Significant Investor visa stream or Australia Golden Visa designed for individuals who can invest at least $5 million in approved investments in Australia, but it gives you a wide range of acceptable investment options. And throughout the validity of their visa, they must hold this investment.
Investment Options in Australia Golden Visa
1. You can make a complying significant investment and have a genuine intention to hold that investment for the duration of the visa:
- You have to invest at least 1 million AUD in venture capital and growth private equity funds, which invest in start-ups and small private companies.
- At least 1.5 million AUD in approved managed funds investing in emerging companies listed on the Australian Stock Exchange
- And a ‘balancing investment’ of at least 2.5 AUD million in managed funds that may invest in a range of assets.
2. If the investment is withdrawn, it must be re-invested into another complying investment within 30 calendar days.
From where you can apply for this visa
You can be in or outside Australia when you apply for the visa, but not in immigration clearance. To apply for it, there are specific eligibility criteria that the applicants need to meet. It takes around 12 to 24 months to process this visa. After 5 years, it can lead to you getting Australian Citizenship if you want to apply at that time.
Cost of the visa
Australia Golden Visa costs around 9,450 AUD for the main Applicant. And if there are family members, then there are additional charges for them.
- For family members over 18 years old, you will have to pay an extra 4,725 AUD
- And for family members under 18 years old, it is 2,365 AUD.
You must pay an extra charge for any applicant 18 or older with less than functional English. This is the second installment charge, which you will have to pay only when asked for it. The best part is that the charges will be refunded if the visa is not granted.
The second installment charge for the main Applicant is 9795 AUD, and the family member is 4890 AUD.
Australia Significant Investor Visa Requirements:
- Investment of 5 million AUD for the duration of the visa, which is up to 5 years.
- The Applicant must prove that the assets or funds used for the complying investment have been lawfully acquired.
- There should be physical residence for an average of 40 days/per year for primary visa holders or 180 days per/year for secondary visa holders before applying for the permanent visa.
- Have a genuine and realistic commitment to live in the nominating State or Territory and continue business and investment in Australia.
- Must have owned and managed business and personal assets and investments. For detailed information about it, you can visit Australia’s official website- https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-188/investor-stream#Eligibility
Additional Requirements
- You will have to score at least 65 on the points test, which you can get for your age, English language ability, qualifications, business turnover, net personal and business assets, business experience, innovation, and special endorsement.
- You need at least three years of experience managing one or more eligible businesses or investments. You must also have a proven track record of successful eligible investments or qualifying business activities, along with a demonstrated high level of management expertise about the eligible investment or qualifying business activity.
- You and your partner should not have engaged in business or investment activities, considered unacceptable in Australia.
- The Applicant and family will have to provide a police certificate from each country they have lived in for 12 months or more over the past 10 years after they turned 16 years of age. All family members will have to provide this even if they are not migrating.
- Rest are the same requirements that you need for other visas as well, like having functional English, meeting health requirements, character requirements, having no debt to the Australian government, signing the Australian values statement, and you should not have had a visa canceled or a previous application refused.
Process of Australia Significant Investor Visa:
- First, Submit an Expression of Interest (EOI) via “Skill Select” online service to be nominated by a State or Territory Government, or Austrade.
- After receiving a nomination from a State or Territory government and an invitation to apply, you will have to submit an online visa application within 60 calendar days.
- When you receive the approval-in-principal of the visa application, you will be advised when to make the complying investment.
- Then, after making the complying investment, a temporary visa will be issued.
- This visa will have a duration of up to 5 years with a minimum requirement for physical residency in Australia. Additionally, it has the provision of up to 9 9-year extension.
Advantages of Australia Significant Investor Visa:
- It gives you the ability to work, live or study in Australia.
- You will get a safe living environment and one of the highest standards of living in the world.
- Outstanding quality of education and the best healthcare system.
- With this visa, you can apply for a permanent Business Innovation and Investment visa (subclass 888) Investor stream. But with certain requirements.
- You can bring eligible dependents, like:
- Spouse or de facto partner
- Dependent children under 18
- Dependent children between 18-23 years old
- No requirement of English language proficiency
- There are no upper age limits.
- You will have the ability to extend your provisional visa once for up to 4 years, giving a maximum of 9-year provisional visa.
- It will lead you on the pathway to Citizenship.
CONCLUSION
So Australia has solidified its position as a highly favored immigration destination. And this is specifically among HNWIs, who are drawn to its exceptional living standards and appealing surroundings. The Australia Investor Stream Visa program represents an exceptional route to permanent residency. Also, it is complete with the potential for Australian citizenship attainment within a remarkably short timeframe.
This program centers on residence-by-investment. It offers two key visa alternatives and is part of the broader Australia Golden Visa Scheme. Furthermore, it caters to high-net-worth individuals and their families looking to establish permanent residency in Australia.