System Message:

Australian Immigration Daily News

Breaking Australian immigration news brought to you by Migration Alliance and associated bloggers. Please email help@migrationalliance.com.au

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form
Posted by on in General
  • Font size: Larger Smaller
  • Hits: 1031
  • 0 Comments

Migration (Purposes of Managed Fund Investments) Instrument (LIN 23/056) 2023

Purpose 

The primary criteria for the grant of a Subclass 188 (Business Innovation and Investment (Provisional)) visa (Subclass 188 visa) in the Significant Investor Extension stream and a Subclass 888 (Business Innovation and Investment (Permanent)) visa (Subclass 888 visa) in the Significant Investor stream are set out in Divisions 188.2 and 888.2 of Schedule 2 to the Regulations, respectively.

Subclauses 188.261(1A) and 888.241(2A) of Schedule 2 to the Regulations provide that if an applicant’s most recently held Subclass 188 visa in the Significant Investor stream was applied for before 1 July 2015, then the applicant’s subsequent Significant Investor Extension stream (for the provisional visa) and Significant Investor stream (for the permanent visa) applications will be assessed by reference to whether the applicant held a complying investment (within the meaning of regulation 5.19B of the Regulations as in force at the time of the initial Subclass 188 visa application) throughout the period in which the Subclass 188 visa was held.

Regulation 5.19B of the Regulations sets out the requirements that an investment by a person (the investor) must meet to be a ‘complying investment’. Paragraph 5.19B(2)(c) of the Regulations requires that the investment must be one that is in a managed fund (directly or through an investor directed portfolio service) for a purpose specified by the Minister in an instrument in writing.

The purpose of the instrument is to specify the purpose of an investment in a managed fund for paragraph 5.19B(2)(c) of the Regulations.

Source: LIN23056.pdf and LIN23056-explanatory-statement.pdf

Last modified on
Rate this blog entry:
0

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Sunday, 14 April 2024
Joomla SEF URLs by Artio

Immigration blog

Bizcover Banner
Migration Amendment (Bridging Visas) Regulations 2024
The Migration Amendment (Bridging Visas) Regulatio...
Continue Reading...
High Court of Australia delivered a unanimous verdict in the case of LPDT v Minister
On April 10, 2024, the High Court of Australia ren...
Continue Reading...
Allianz Partners Travel Insurance Partner Discount Code for our members
Thank you for being a valued partner  At Mig...
Continue Reading...