Posted At: Aug 17, 2023 - 288 Views
The Significant Investor Visa (SIV) is a pathway for high-net-worth individuals and families to gain permanent residency in Australia. This visa requires that the applicant must invest at least AUD$5 million in complying investments in Australia for four years.
The Significant Investor Visa has been designed to attract investors and entrepreneurs to Australia, to provide a significant economic benefit to the Australian economy. It also provides a pathway to permanent residency for those who have the necessary financial and business expertise.
This guide outlines the requirements and steps involved in applying for the SIV, and provides advice on how to make a successful application.
Eligibility Requirements
To be eligible for the SIV, an applicant must:
• Be at least 18 years of age
• Have a net personal and/or business assets of at least AUD$5 million, that are legally acquired
• Have at least 3 years of business experience
• Have the ability to make a complying investment of at least AUD$5 million in Australia
• Have a genuine commitment to living in Australia
• Have a high level of English language proficiency
• Have a good character
• Have no debt to the Australian government
• Have health insurance
• Have a good understanding of Australia's economic, business and investment environment
The Application Process
The application process for the SIV involves several steps. These include:
• Submitting an Expression of Interest (EOI)
• Being invited to apply for the visa
• Preparing and submitting the visa application
• Being interviewed by the Department of Home Affairs
• Receiving a decision on the visa application
• Making the complying investment and receiving a visa grant
• Complying with visa conditions
Making a Complying Investment
Once a visa has been granted, the applicant must make a complying investment of at least AUD$5 million in Australia within six months. This must be invested in complying investments, which include:
• Australian government or semi-government bonds
• Corporate bonds or notes issued by an Australian Stock Exchange listed company
• Managed funds that invest in Australia
• Real estate investments in Australia
• Business investments in Australia
• Venture capital investments in Australia
It is important to note that the investment must be managed by a registered Australian financial services licensee.
Conclusion
The Significant Investor Visa provides a pathway to permanent residency in Australia for high-net-worth individuals and families. To be eligible for the visa, the applicant must meet certain criteria and make a complying investment of at least AUD$5 million in Australia. The application process involves several steps, including submitting an Expression of Interest and being interviewed by the Department of Home Affairs. Once the visa is granted, the applicant must make the compliant investment within six months.
