Search

Premium class visa for a premium investor in Australia

2020-03-13 18:04:52
Premium class visa for a premium investor in Australia
Similar to other countries, a robust investment opens many doors. One of those doors will lead to permanent residency in Australia. Australia offers beneficial investment immigration schemes aimed at enticing high net worth personalities to reside in Australia. If you’re a business tycoon who plans to live in Australia, then this might be the visa for you.

Premium Investor stream

This 4-year provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.

 

The government is interested in a smaller, but more skilled group of investors who are able to introduce more value and greater long-term effect on the country’s economy. For this reason, only those candidates invited by the government are allowed to apply for the visa and the selection for this kind of visa is very strict.

 

Eligibility

You must

· be nominated by Austrade before being invited to apply for this visa

· be invited to apply for this visa

· invest at least AUD15 million in Australian investments and/or philanthropic contributions that meet certain requirements

·  have net assets of at least AUD15 million

· have a genuine intention to hold the investment for the whole period of the visa (except any part of the investment that is a philanthropic contribution)

· Have functional English

· Meet the health and character requirement

· No debt to Australian government

· agree not to bring action against the Commonwealth for any loss relating to your investments

 

Complying premium investment

After you lodge your application, you must make a complying premium investment of at least AUD15 million in any of the following options

 

· Australian securities exchange listed assets

· Australian government or semi-government bonds or notes

· corporate bonds or notes issued by an Australian exchange listed entity (or a wholly-owned subsidiary of the Australian listed entity), investment-grade rated Australian corporate bonds or notes rated by an AFS licenced debt rating agency

· Australian proprietary limited companies that operate qualifying businesses (providing goods or services to the public with a profit-making intention, and not passive or speculative in nature)

· real property in Australia excluding residential property

· deferred annuities issued by Australian registered life companies

· state or territory government approved philanthropic contribution

 

 

To be an eligible fund, a further requirement is that cash is to be no more than 20% of a fund’s net assets and derivatives are to be used for risk management purposes only.

 

Do not make your complying premium investment before you submit a visa application. Once you have lodged an application, if we are satisfied you meet other criteria for the grant of the visa, you will be invited to make a complying premium investment.

 

Application

Before you apply, you must be nominated by Austrade and be invited to apply.

First, you must submit an Expression of Interest (EOI). If Austrade accepts your EOI and nominates you, we will invite you to apply for this visa.

 

Austrade will not accept unsolicited expressions of interest.

 

If you are invited to apply for the Premium Investor visa, you will apply for the visa online on ImmiAccount. Your invitation letter contains instructions on how to submit your application.

 

You will need to gather your supporting documents that prove your identity, and also provide documents about your business and assets.

 

You will also need to provide documents about family members applying with you

 

Costs

This visa costs AUD9,455 for the main applicant.

 

There is also a charge for each family member who applies for the visa with you:

 

· family members over 18 years old: AUD4,725

· family members under 18 years old: AUD2,365

 

You must pay an extra charge for any applicant 18 years old or older who has less than functional English. This charge is the second instalment. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa. The second instalment charges are:

 

· main applicant: AUD9,795

· family members: AUD4,890

 

You might also have to pay other costs for health checks, police certificates and biometrics.

 

Family

You can include members of the family unit in your application when you apply. You can also add dependent children to your application at any time before we decide your application.

 

Family members who apply for the visa must meet our health and character requirements.

 

In order for the primary applicant to be granted this visa, family members who are not coming to Australia must meet our character requirements and might have to meet our health requirements.

 

Permanent Residency

The provisional 4-year investor & business visa (subclass 188) works as the first step of permanent residency in Australia. During this period, an investor needs to show an outstanding success of their investment in order to obtain a permanent investor visa (subclass 888).

 

In order to qualify for permanent residency under subclass 888 visa, you must have held the Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream for a continuous period of at least 12 months.

 

You must have a current nomination from Austrade. When applying for the provisional visa, you had to submit an expression of interest, after which Austrade would then nominate you. For this visa, Austrade needs to confirm that your nomination is still current. You do not need to provide a new Expression of Interest. But, the state or territory needs to confirm that your nomination is still current

 

You must have held the complying premium investment of AUD15 million (except any part of the investment that is a philanthropic contribution) for the whole time you have held your provisional visa.

 

You must also meet the following requirements:

 

· Have functional English

· Meet the health and character requirements

· No debt to Australian government

· Have followed Australian laws

View More
Relative articles
Collect Share