This visa is for people who are willing and able to invest at least AUD 5 million in certain investments in Australia and maintain business and investment activities 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 an invitation for you 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:
1. you, your partner, or you and your partner combined, must have net assets of at least AUD5 million that are legally acquired, unencumbered, and available to be used to make a complying investment in Australia;
2. you must also make a “complying investment” of at least AUD5 million over four years;
3. you must 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 the conclusion of your provisional visa;
4. you must live in Australia for at least 40 days per year (calculated cumulatively) for the duration of your provisional visa, or your spouse must live for at least 180 days per year (calculated cumulatively) for the duration of your provisional visa;
You must make a complying investment of at least AUD5 million over four years in the following proportions:
a. At least AUD$500 000 in venture capital and growth private equity funds which invest in start-ups and small private companies.
b. At least AUD$1.5 million in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.
c. A ‘balancing investment’ of at least AUD$$3 million in managed funds that may invest in a range of assets, including ASX-listed companies, Australian corporate bonds or notes, annuities and commercial real estate.
Note: Direct investment in residential real estate is prohibited and indirect investment in residential property through managed funds is strictly limited.
NSW Government Criteria
To be eligible for NSW nomination you must be able to substantiate your ability to meet the requirements of the DIBP. You will be asked to:
1. demonstrate that you have at least A$5million in assets that are unencumbered, lawfully acquired and readily transferable to Australia;
2. commit to investing at least A$5million in complying investments; and
3. provide details of your complying investment intentions.
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.