The significant investor visa is an Australian visa for high net-worth investors. To receive the visa, you must invest at least AUD $5 million into complying significant investments in Australia. If your application is successful, the visa is valid for five years. You may then be eligible for permanent residency. This article will outline:
- how to apply for the visa;
- the relevant requirements to apply for the visa; and
- the key differences between these requirements in each Australian State and Territory.
How Do I Apply?
An application for the significant investor visa involves the following steps:
- assessing that you meet the eligibility criteria outlined by the Department of Home Affairs and the relevant State or Territory government agency;
- submitting an expression of interest via Skillselect;
- applying for nomination to the relevant State or Territory government agency or Austrade; and
- receiving an invitation from the Department of Home Affairs to apply for a significant investor visa.
Complying Significant Investment
Prior to the grant of the significant investor visa, you must invest at least $5 million into complying significant investments that include:
- at least AUD $1,000,000 in venture capital and growth private equity funds, which invest in start-ups and small private companies;
- at least AUD $1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange (ASX); and
- a 'balancing investment' of up to AUD$2.5 million in managed funds.
Receiving an Invitation to Apply
Once you receive an invitation to apply for a significant investor visa, you have 60 days to submit the visa application. If you do not lodge the application within 60 days, your EOI will lapse, and you will have to restart the process from the beginning.
What About Prior Investments?
Potential applicants may have existing investments in Australia that count towards their $5 million investment requirement. As long as the complying significant investments are made with an AFS Licensed Fund Manager in the above proportions, they can be made before or after lodging the visa application (and before it is decided).
The Department of Home Affairs will invite applicants to make the complying significant investment within 70 days (of receipt of that invitation/ correspondence).
Licensed Manager Requirement
It is important to note that all complying significant SIV investments must be made through an Australian Financial Services (AFS) licensed fund manager(s) domiciled in Australia. Fund managers must be independent of the applicant, the applicant's spouse or de facto partner, and any associate (within the meaning of the Corporations Act 2001) of the applicant.
Key Takeaways
In summary, the significant investor visa is for high net-worth investors who intend to invest in complying significant investments in Australia. It offers a two-stage streamlined pathway to Australian permanent residence. There are several benefits to the significant investor visa, including having a hands-off approach to investments, lower residence and English requirements, and the opportunity to invest in a thriving economy.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.