Australia is one of the world’s wealthiest countries, with a sterling reputation. It is a developed, multi-cultural country with a high Human Development Index that provides its citizens with a high quality of life, economic freedom, and effective protection of civil liberties and political rights. In 2012, the Australian government established the Significant Investor Visa (Australia Golden Visa). It provides a streamlined path to Permanent Residency in Australia for High Net Worth Individuals (HNWIs) through investment immigration. Although citizenship can be filed for after 3-4 years of residency, including 1 year of Permanent Residency, there is no direct Australia Citizenship by Investment program.
Applicants for visas must meet certain criteria according to the visa subclass they are applying for. A visa application’s criteria will either be ‘at the time of lodgment’ requirements, ‘at the time of decision’ requirements, or a combination of both. If an applicant fails to demonstrate that they meet the criterion in a timely manner, their visa application may be denied. All visa subclasses require applicants to meet certain health, character, and public interest requirements.
Permanent residents must spend at least two years of a five-year period in Australia, or show strong ties to the country. The visa application procedure in Australia is highly structured and is governed by laws, regulations, policies, and legislative instruments. The length of time it takes to process an application varies greatly depending on the type of visa. The Department of Immigration has a priority processing tier in which visa applications that benefit the country the most are processed faster than those that benefit the country less.
- Individuals must pass a points exam, have a successful business career with a business turnover of at least AUD 750,000, and have net assets of at least AUD 1.25 million to be eligible for the Business Innovation Stream. They must also own a significant portion of an Australian business and live in Australia for at least one year.
- Pass a points test, invest AUD 2.5 million in a compliant Australian-managed investment fund for the period of the provisional visa’s validity, and stay in the country for at least two years to qualify for the Investor Stream.
- The Significant Investor Stream requires you to invest at least AUD 5 million in a conforming Australian-managed investment vehicle for the term of the provisional visa’s validity and to spend at least 40 days per year in Australia.
- The Entrepreneur Stream requires approval from a state or territory administration and a two-year stay in the country.
The applicant and family can move from Temporary Residence (TR Subclass 188) to Permanent Residence after four years (PR Subclass 888). Despite its enormous value, the investment is limited and regulated. Residency is limited to direct family members. There are presently no country quotas in place, and no investment must be made until pre-approval has been granted.
For HNWIs seeking residency through investment, Australia is a popular choice. In fact, Australia attracted 10,000 HNWIs through investment in 2017, the most of any country on the planet, ahead of the United States, which came in second with 9000. Australia has a high level of life that is frequently ranked first or second in the world. It receives great marks for women’s and children’s safety. Australia is a fantastic place to do business in Southeast Asia, and the economy has functioned admirably for the past 27 years, with no recession.