New Flexible Residency To Australia Wealthy Visa Investor Applicants

24 Jun 2015

Australian govt has confirmed that it has been planning to launch flexible residency arrangements for the significant investor visa.

The govt is also planning to introduce other changes from  1 July which would cover entire business innovation as well as investment programme which were created to attract entrepreneurs and investors around the world.

Presently it includes the investor Visa, the Business innovation Visa and the Significant Investor (SIV) and from July it would start including the  Premium Investor Visa (PIV).

In order to granted a SIV or A PV the applicant would require to make an investment that complies with the complying investment in innovative Australian ideas as well as emerging companies.

Eligibility for the Permanent SIV would require either the primary applicant to reside in Kangaroo nation for nearing to 40 days per year or the secondary applicant, who can be spouse or de facto partner, to reside in Australia for 180 days each year.

This residency requirement would be for each year and it would be calculated cumulatively over the period of the provisional visa, for example, for the primary applicant 160 day over four year or 720 days over four years for the secondary applicant.

Other changes affecting the SIV and PIV would include the reintroduction of role swapping, which would allow the secondary applicant to apply inorder to fulfill the primary criteria for the permanent visa on behalf of the primary applicant. There would be reduction of the pass mark for the points test from 65 to 50 points.

As per the changes the new SIV applicants would require to invest minimum of $5 million in complying investments, which would presently include minimum of $500,000 in eligible Australian Venture capitial or growth private equity funds investing in start-up and small private companies. The Australian govt plans to increase this to $1 million for the new applications within two years as the market responds.

Minimum of $1.5 million is required to put in an eligible managed fund or listed investment companies that would help in investing in emerging companies listed on the Australian Securities Exchange and balancing investment  nearing to  $3 million for the managed funds or LIC’s which would plan to invest in eligible assests

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