Australian Immigration Daily News

Applicants need to make a designated investment of AUD $5,000,000 to be eligible to be granted a four (4) year visa (Subclass 188) that provides a pathway to gaining Australian permanent residence.  To view this information in Indonesian please click the following link: Informasi-migrasi-ke-Australia-visa-provisional-kategori-Investor-1.pdf

To make an application for an Australian Significant Investor Visa there are five stages:

Stage 1:
SIV applicants submit an Expression of Interest (EOI) via the Department of Immigration and Citizenship's online system which is called SkillSelect.  If successsful, visa applicants will then receive an invitation to submit a visa application.  Contact a Registered Migration Agent for more information.

Stage 2:
The SIV applicant submits an application to request nomination by a designated State/Territory government agency. Each state/territory has its own requirements to nominate applicants.  Contact a Registered Migration Agent for more information.

Stage 3:
On receipt of the Nomination approval from the State / Territory government agency, the SIV applicant submits a formal visa application with the Department of Immigration and Citizenship.  Contact a Registered Migration Agent about this step.  Contact PwC to complete the SALP before lodging your visa application.

Stage 4:
SIV applicants found to meet the eligibility criteria will be notified by the Department of Immigration and invited to make a AUD $5,000,000 complying investment within 70 days.  Contact an approved company from our list of our approved investment options for SIV applicants.  Contact PwC regarding all taxation implications surrounding the significant investment.

Stage 5:
Once an original document evidencing the complying investment has been made, the Department of Immigration will grant the visa.  The SIV applicant will be provided with a “first entry date”  which requires the SIV applicant to enter Australia by that defined date.

The SIV Applicant Requirements

The SIV applicant and any family members included in the visa application will be required to provide criminal background / character checks and health checks.   Australia places importance on the health and character of people applying for Investment visas.

The SIV applicant and their partner / spouse (if any) must not have a history with, or involvement in any business or investment activities that are not generally accepted in Australia (e.g. tax evasion, corruption, fraudulent practices etc).

The SIV applicant must have a “genuine intention” to live in Australia and in the State or Territory that issued the Nomination approval at Stage 3 above.

The SIV applicant and any family members included in the visa application will not be required to demonstrate English language competency, nor will they be subject to any age limits or points testing.

Complying Investment Requirements

The regulations have defined the investments deemed acceptable by the Department. The AUD $5,000,000 can be invested into one or a mix of the following complying investments;

(a)          infrastructure projects in Australia;
(b)          cash held by Australian deposit taking institutions (including negotiable certificates of deposit, bank bills and other cash-like instruments);
(c)           bonds issued by the Commonwealth Government or a State or Territory Government;
(d)          bonds, equity, hybrids or other corporate debt in companies and trusts listed or expected to be listed within 12 months on an Australian Stock Exchange;
(e)          bonds or term deposits issued by Australian financial institutions;
(f)           real property in Australia;
(g)          Australian Agribusiness;
(h)          annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995;
(i)            derivatives used for portfolio management and non-speculative purposes which constitute no more than 20 per cent of the total value of the managed fund;
(j)           loans secured by mortgages over the investments listed in paragraphs (a) to (h) above; and
(k)          other managed funds that invest in the investments listed in paragraphs (a) to (j) above.
 
The funds placed into these investments must be held by the SIV applicant or their spouse/partner (if any), or by a company where the applicant/spouse is the sole shareholder, or via a lawfully established trust where the applicant or their spouse is the sole trustee.

Funds may be withdrawn and moved into another complying investment. However, any transfer must be made into a new complying investmentwithin 30 days.

Finally, the applicant must demonstrate that the funds used to make the investment cannot be claimed by any third party (i.e. “unencumbered”) and that they werelawfully acquired. This will be evidenced by a Statement of Assets and Liabilities Position (SALP) which is a Department of Immigration and Citizenship form the SIV applicant must complete.  Contact Renee Zhao from PwC to complete the SALP on This email address is being protected from spambots. You need JavaScript enabled to view it. .

Pathway to Permanent Residence

Successful SIV applicants will initially be granted a temporary Subclass 188 visa which is valid for four (4) years. At the end of this four (4) year period, SIV applicants can apply for the Subclass 888 visa, which grants Australian permanent residence.

In order to qualify for permanent residence, the SIV applicant must continue to hold a complying investment. In addition, the SIV applicant must demonstrate that they have been in Australia for an average of 40 days for each year the Subclass 188 visa was held.  For example, if the applicant had held a Subclass 188 visa for four years, they would be required to demonstrate a cumulative 160 days in Australia. It is not necessary for the applicant to have been in Australia for 40 days in each calendar year in the period.

Visa holders who do not meet requirements for permanent residence may request a two year extension to the Subclass 188 visa (a maximum of two extensions will be granted.)

SIV Concluding Comments

The Minister for Immigration and Citizenship has expressed commitment to the  Significant Investor programme of entry to Australia.  Applications will be processed efficiently.  Contact a Registered Migration Agent for further advice and assistance.

To open a business bank account in Australia, I recommend Nab, Australia's best business bank.  For more information on opening a business bank account please contact Paul Bailey from Nab: This email address is being protected from spambots. You need JavaScript enabled to view it. . 

For further investment advice please contact Stacey Martin from Nab Private Wealth (This email address is being protected from spambots. You need JavaScript enabled to view it. ) or Lucinda Chan (This email address is being protected from spambots. You need JavaScript enabled to view it. ) from Macquarie Private Wealth.