What is the Significant Investor Visa?
The Significant Investor Visa is a stream of the Business Innovation and Investment (Provisional) (Subclass 188) visa. Applicants must make a complying investment of AUD5,000,000 and then must hold this investment for 4 years.
The following are considered complying investments for the Significant Investor visa:
- Commonwealth, State or Territory government bonds;
- Australian Securities and Investment Commission (ASIC) regulated managed funds with a mandate for investing in Australia; and
- Direct investment into Australian proprietary companies.
Applicants are required to submit an Expression of Interest which can be view by State and Territory governments to determine whether to nominate you for a visa. Each state has a different process in determining whether to nominate applicants, either they will contact you or you will have to contact them. Our experienced team of migration lawyers can assist you with this process and inform you of the different schemes that each State or Territory government has and help you in determining the most appropriate investment selection.
For example, Victoria now looks at what the potential contribution to Victoria’s economy will be, as well as the applicant’s business intentions in Victoria when determining whether to nominate an applicant. For those applicants wanting to be nominated by Western Australia, the main factor in determining whether an applicant will be nominated is the long term economic benefit to the Western Australian economy. The New South Wales government recently removed the requirement that applicants invest in NSW Waratah Bonds and now the process is more streamlined. Queensland requires that the investment has a direct economic benefit to Queensland, whereas Tasmania merely requires details of how the investment will benefit the Tasmanian economy. The Northern Territory government assesses applicants on whether the proposed investment activities benefit the Northern Territory, and those investments that relate to the mining and energy sector, tourism and international education sector and primary industries and fisheries / food export sector will be given preference.
You must also have a genuine and realistic commitment to reside in the state or territory whose government agency nominated you and continue your business and investment activity in Australia after your complying investment matures.
Applicants can apply for their permanent residency under the Significant Investor stream of the Business Innovation and Investment (Permanent) (Subclass 888) visa after four years, as long as they have held their complying investment for four years and have been in Australia for at least 160 days in the past four years. They also must genuinely have a realistic commitment to maintain business or investment activities in Australia.
For further details on how to secure nomination for the Significant Investor visa and to gain assistance with the application, contact our experienced migration lawyers today on (07) 3229 4025 or at firstname.lastname@example.org.