Australia To Launch Premium Investor Visa To Quicken Pathway For Permanent Residency

25 Nov 2014


Immigration News

Australia has declared a new path entitled as premium investor visa, which paves way for permanent residency. It is the best option for the individuals who would like to apply for an Australian permanent residency at a faster pace.

The new Australia’s premium investor visa is set to become the most valuable visa across the globe. This new premium investor visa will come into effect on June 2015 that offers permanent residency to investors who would like to invest at least A$15 million or Dh48m in the country’s economy.

In response, investors would be able to apply for Australian residency status after the period of 12 months, which is considered as the fastest route to Australian residency so far.

Sources said that the new visa program is attractive for individuals who would like to travel across the globe for business and keep their firm growing, which in turn boost the Australia’s economy.

The new visa aggregates the current significant investor’s visa, which provides permanent residency for foreign investors within a period of four years next to a minimum investment of A$5m.

Australia expects that the new visa scheme allures the ultra-rich to produce investment in native industries requiring the financial inoculation.

The precise requirements of new premium investor visa program have not yet announced. However, the requirements are not anticipated to be stringent than the relaxed requirements of the current investor’s program, which doesn’t include any age or language requirements.

A prerequisite of residency- where applicants needs to reside in Australia for 160 days during four-year investment term would not be there for new program, which is considered as an immense spur for global businessmen.

Presumably, there are several reasons for investors to choose Australia such as two decades of continuous economic growth, viable interest rates, high business competitiveness rankings, high investment security in addition to lowest macroeconomic and political risk in the Asia Pacific.

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