This visa is for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia.
Expression of Interest and State Nomination
To apply for this visa, you must lodge an Expression of Interest (“EOI”) with the Department of Immigration and Border Protection (“the DIBP”) and an application for state nomination with a state / territory government. Your EOI will be viewed by state / territory governments who may then choose to nominate you for the visa. If you are nominated, the DIBP will then issue you an invitation to apply for the visa.
There are separate eligibility criteria at the DIBP and state level. We will outline the DIBP eligibility criteria and the criteria for the NSW State Government. We can advise you of the eligibility criteria for other states and territories should you be interested in migrating to a different state or territory.
Department of Immigration and Border Protection
The requirements under this stream are that you:
1. be less than 55 years of age (some exemptions apply);
2. have at least three years’ experience of direct involvement in managing “eligible investments” (eligible investment include ownership interests in a business, cash on deposit, stocks or bonds, real estate, gold or bullion, and loans to a business);
3. have a high level of management skill in relation to an eligible investment activity and an overall successful record in managing eligible investments;
4. your partner, or you and your partner combined, must:
a. for at least one of the five fiscal years immediately before you are invited to apply for the visa, have directly managed “eligible investments” of at least AUD$1.5million;
b. during the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD$2.25 million that are available for legal transfer to Australia within two years of the visa being granted;
c. make a designated investment of at least AUD$1.5 million in a state or territory government security (e.g. NSW Waratah Bonds) using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue by your nominating state or territory – you must make the investment prior to the grant of the visa;
5. be nominated by an Australian state or territory;
6. demonstrate you and any adult dependents included in your application have at least ‘functional English’, usually evidenced by way of providing an IELTS certificate with a score of 4.5 or more on all four components (if you or any family member cannot demonstrate you have functional English, there are significant additional fees payable to the DIBP).
7. have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment; and
8. have a genuine and realistic commitment to continuing your investment activity in Australia after the original investment has matured.
9. score at least 65 on the “Innovation Points Test”.
In respect of the Innovation Points test, points are awarded for:
2. English language ability;
4. Years of experience in business;
5. Minimum net personal and business assets of (minimum of AUD$800,000);
6. Business turnover (minimum of AUD$500,000); and
We can advise whether you meet the Innovation Points Test after an initial discussion with you.
The requirements for nomination by the NSW government are that:
1. you must demonstrate that you meet the DIBP criteria by providing sufficient documentary evidence;
2. you must provide a signed statement agreeing to make a designated investment with the NSW Treasury Corporation (NSW Waratah Bonds);
3. you must provide a full resume of your investment career and responsibilities demonstrating a successful investment career;
4. for the 2 years immediately before the application for state nomination is made, the net value of your (or your and your partners) investment and personal assets must be at least AUD$3.0m if migrating to Sydney, or AUD$2.25m if migrating to regional NSW; and
5. you must provide evidence of the availability of funds for settling and living expenses for not less than 1 year.
If you wish to apply for this visa, please contact one of our experienced immigration lawyers.
These applications require a lot of information and documentation. We will ensure your application is structured in such a way that it is given the best prospects of success.
We offer all our prospective clients an initial meeting, during which we will thoroughly explain the law surrounding this visa to you and inform you of the process moving forward.
To organize a initial consultation with us, please contact one of our experienced immigration lawyers on (02) 9590 3987.