Lyla Lindsey
Australia offers several pathways to become a permanent resident and eventually obtain Australian citizenship. Foreign investors can buy property in Australia, but this alone does not qualify for residency. However, it can support an investment visa application if the property is part of a broader business or investment strategy. Australia's Business Innovation and Investment Visa program is designed to attract investors and business people who contribute to the national economy. Applicants can obtain an Australian Golden Visa by investing AUD 1.25 million or more or by starting a business in the country.
| Characteristics | Values |
|---|---|
| Visa Types | Business Innovation and Investment Visa, National Innovation Visa, Significant Investor Visa, Family-Stream Permanent Visa, Work-Stream Permanent Visa, Investor-Stream Permanent Visa, Partner Visa, Contributory Parent Visa, Aged Dependent Relative Visa |
| Requirements | Knowledge of English, business experience, clear criminal record, age up to 55 years, minimum investment of AUD 1.25 million, passing a history test, passing a language test, swearing an oath of allegiance to the state |
| Benefits | Right to reside in the country for 5 years, possibility to obtain permanent residency, visa-free travel to 196 countries worldwide, ability to live, work and study with fewer restrictions than temporary visa holders |
| Application Process | Submit an application, demonstrate the value of investment, pass due diligence, pass an online SkillSelect test with a minimum score of 65 |
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What You'll Learn
Investment visa options
Australia offers several visa options for investors seeking permanent residency. Here is an overview of the key investment visa options:
Business Innovation and Investment Visa (Subclass 888)
The Business Innovation and Investment Visa is a government program designed to attract foreign investors and business people who can contribute to Australia's national economy. This visa provides a pathway to permanent residency for eligible provisional visa holders, including those holding a Subclass 188 visa in the Business Innovation stream or Business Innovation Extension stream. Applicants can obtain this visa by investing AUD 1.25 million or more in Australia or by starting a business in the country. Holders of these visas can reside in Australia for up to five years and later apply for permanent residency.
National Innovation Visa (NIV)
The National Innovation Visa (NIV) is a streamlined pathway to permanent residence for highly skilled and talented individuals, including academics, global researchers, innovative investors, entrepreneurs, world-renowned athletes, artists, and entertainers. The NIV has replaced the GTI visa and targets high-impact entrepreneurs. Applicants are assessed based on four priority levels, with priority given to recipients of top international awards, nominees by government agencies, and those demonstrating exceptional achievements in Tier 1 sectors.
Regional Investment Visas
Some Australian states offer regional investment visas, which require lower investment thresholds compared to other visas. Foreign investors must commit to operating a business in designated regional areas. These visas can eventually lead to permanent residency. It is important to note that foreign buyers must comply with Foreign Investment Review Board (FIRB) regulations, which restrict purchases to new properties or vacant land.
Significant Investor Visa (SIV)
Please note that as of 2024, the Australian government has abolished the SIV program due to economic impact concerns and potential misuse. Previously, this program offered a direct pathway to permanent residency with an investment of $5 million.
While purchasing property alone does not qualify for permanent residency, it can support an investment visa application if it aligns with a broader business or investment strategy. It is recommended to seek professional advice to choose the most suitable investment program and prepare for the application process.
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Business Innovation and Investment Visa
The Business Innovation and Investment Visa is a government program designed to attract investors and business people who contribute to the Australian economy. The visa offers a pathway to permanent residence for highly skilled and talented individuals.
Eligibility Criteria:
To be eligible for the Business Innovation and Investment Visa, applicants must meet the following criteria:
- Applicants must have held a provisional visa (subclass 188) for a minimum of 1 year.
- Applicants must have held complying premium investments of at least AUD 1.25 million continuously for at least 1 year, and for the entire time, they have held their provisional visa.
- Applicants must be under 55 years of age, although this requirement can be waived if the proposed business activity will be of exceptional economic benefit.
- Applicants must have competent English skills and be able to provide evidence of this.
- Applicants must be undertaking or proposing to undertake a complying entrepreneur activity in Australia with a genuine intention to continue this activity.
- Applicants must not have been involved in unacceptable business or investment activities.
- Applicants must agree not to bring any legal action against the Commonwealth for any loss related to their complying investment.
Application Process:
If you are invited to apply for ACT nomination, you will receive an email with a link to the online application form. The following documents must be attached to the application form:
- SkillSelect EOI: full EOI record of response.
- Your resume or Curriculum Vitae.
- ACT Business Proposal (no more than five pages); including proposed ACT business investment activity, economic benefit, economic viability, and financial viability.
- A short summary (no more than two pages) describing your ACT business activity and why you are seeking the visa.
- Evidence of a minimum $200,000 investment in accordance with the approved ACT business proposal.
- Copy of the passport (bio page and Australian visas, if any) for the main applicant and dependents.
It is important to note that the Business Innovation and Investment Program (BIIP) is closed as of 31 July 2024, and increased scrutiny has been placed on investment visas, focusing on active business contributions rather than passive investments.
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National Innovation Visa
The National Innovation Visa (NIV) is an Australian visa program that offers a pathway to permanent residence for highly skilled and talented individuals. It is an invitation-only program that aims to attract global talent, including established and emerging leaders with world-leading skills, who can make significant contributions to Australia's future prosperity. The NIV has replaced the Global Talent Visa (GTV) and the Business Innovation and Investment Program (BIIP), which have been discontinued.
The NIV is designed for individuals who would be an asset to the Australian economy and create opportunities for Australians by transferring skills, promoting innovation, and creating jobs. This includes global researchers, entrepreneurs, innovative investors, and high-calibre athletes and creatives. Applicants are not required to make any investment in Australia, but they must provide evidence of their exceptional achievements and contributions.
To apply for the NIV, individuals must first submit an Expression of Interest (EOI) that showcases their achievements and contributions. The Australian government processes EOIs and NIV applications based on four priority levels:
- Recipients of top international awards
- Applicants nominated by a relevant government agency with a supporting business case
- Applicants demonstrating exceptional achievements in Tier 1 sectors
- Exceptional talent in other areas such as entrepreneurship, investment, athletics, and the creative arts, nominated by a State, Territory, or Federal Government agency
The NIV offers many benefits for those who qualify, including the ability to stay in Australia permanently, work and study in the country, enrol in the public health care scheme (Medicare), and sponsor relatives to come to Australia. It also provides a pathway to Australian citizenship, which can be obtained after residing in Australia for four years, with at least 12 months as a permanent resident.
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$6.97 $14.75
Significant Investor Visa
The Significant Investor Visa (SIV) was a Federal Government initiative that aimed to attract high-net-worth individuals from other countries seeking permanent residency in Australia. The SIV was recognised as a world-leading investment visa program, providing a pathway to permanent residency in Australia after four years.
To qualify for the SIV, applicants were required to invest a minimum of AUD$5 million in Australian investments that met certain requirements and maintain business and investment activity in Australia. The Australian Government classified the SIV as a Business Innovation and Investment Visa, targeting applicants with capital to invest in innovative Australian businesses and the commercialisation of Australian ideas, research, and development.
The SIV program offered a range of benefits to successful applicants, including permanent residency status after four years, the right to reside in Australia indefinitely, and the ability to enjoy the same rights as Australian citizens. Additionally, SIV applicants could access a range of services to support their investment journey, such as investment review services, tax and immigration consultants, and wealth management expertise.
However, it is important to note that as of 2024, the Australian Government has abolished the SIV program due to concerns about its economic impact and potential misuse. While the SIV is no longer available, there are still alternative visa options for investors seeking Australian residency, such as the Business Innovation and Investment Visa (Subclass 888) and the National Innovation Visa (NIV). These visas continue to provide pathways to permanent residency for investors and entrepreneurs who contribute to the Australian economy.
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Permanent resident requirements
Family Stream:
The family stream is designed to reunite families and allows Australian citizens and permanent residents to sponsor their partners, children, parents, or dependent relatives for permanent residency. This stream includes visas such as the Partner Visa (Subclasses 309 and 100), Contributory Parent Visa (Subclass 143), Parent Visa (Subclass 103), and Aged Dependent Relative Visa (Subclass 114).
Work Stream:
The work stream is for individuals with skills and qualifications that are in demand in Australia. This stream includes skilled independent visas, employer-sponsored visas, and state-nominated visas. Applicants must typically meet certain requirements, such as having a job offer or sponsorship from an Australian employer, demonstrating that their skills are in demand, and meeting health and character requirements.
Investor Stream:
The investor stream is for individuals who are willing to make a significant investment in Australia. While purchasing property alone does not qualify for residency, it can support an investment visa application if it is part of a broader business or investment strategy. The Business Innovation and Investment Visa (Subclass 888) is a common pathway for investors, entrepreneurs, and business owners. It requires an investment of AUD 1.25 million or more or starting a business in the country. Other investor visas include the Subclass 188 visa, which is a provisional visa, and the Subclass 891 visa, which is for individuals undertaking business and investment activities in Australia with a designated investment of AUD 1.5 million for four years.
It is important to note that the requirements and visa options may change over time, and it is always best to refer to the official Australian government websites for the most up-to-date information. Additionally, some Australian states offer regional investment visas with lower investment thresholds in exchange for operating a business in designated regional areas. These visas can eventually lead to permanent residency.
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Frequently asked questions
The minimum investment amount depends on the visa type. For the Significant Investor Visa, the minimum investment amount is AUD 5,000,000, while for the Business Innovation and Investment Visa, it is AUD 1.25 million. The State or Territory Sponsored Investor visa (subclass 893) requires a designated investment of AUD 750,000 for four years, and the Investor visa Subclass 891 requires AUD 1.5 million for four years.
In addition to the minimum investment requirements, applicants must meet certain eligibility criteria, including demonstrating English language proficiency, business experience, a clear criminal record, and an age limit of up to 55 years. Applicants may also need to pass the SkillSelect qualification test and provide proof of entrepreneurial experience, a business plan, and bank statements.
First, determine your eligibility and choose the appropriate visa stream. Then, gather the required documents, which may include proof of investment, business plans, and financial statements. Submit your application online or through an authorized agent, and pay the associated fees. You may then need to undergo a due diligence process and an interview before receiving a decision on your application.
The time frame can vary depending on the specific visa stream and individual circumstances. Typically, applicants are required to maintain their investment for a minimum period, often four years, during which they must reside in Australia for at least 40 days per year. After this period, they may be eligible to apply for permanent residency.
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