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Investment Visas: Australian Residency Through Investment

Successive Australian governments have continued to re-affirm Australia’s commitment to encouraging high quality foreign investment. Investment visas provide an opportunity for people around the world to live in Australia and contribute to its strong economy.

Who are these visas for?

There are provisions for permanent residency for seasoned business owners, senior executives and investors. A recurring form of temporary residency is available for people over the age of 55 who wish to invest and retire in Australia.

What is the pathway to obtaining these visas?

1. 160/800 Series Investment visa pathway.

Applicants seeking permanent residency will enter Australia on an initial temporary residency visa. The temporary residency visa will be valid for a period of 4 years. Following a period of 2 to 4 years in Australia, and upon meeting a satisfactory level of investment activity, the applicant may then apply for permanent residency. This pathway is designed to provide certainty for the applicant as they attempt to understand the nature of investing in Australia.

2. Recurring Investor Retirement visa pathway

‘Applicants seeking an investor retirement visa will follow a different path to those seeking permanent residency. Upon the initial approval of the visa the applicant will be   asked to transfer and invest funds within Australia. The applicant is allowed multiple travel in and out of Australia for 4 years. Should the applicant wish to stay in Australia after 4 years, they may apply for a further 4 year visa. Applicants must satisfy additional criteria for this further visa. This is known as a Recurring Investor Retirement visa pathway.

What are the eligibility factors?

1. Age

The central limitation for each visa is the applicant’s age. Those under the age of 55 are eligible for a 160/800 Series Investment visa pathway. Those over the age of 55 are   eligible for the Recurring Investor Retirement visa pathway.

2. Investment Success

The 160/800 Series Investment visa pathway requires the applicant to possess a successful record of investments and business activity. This must be direct involvement and involve investments of a sizable nature. The Recurring Investor Retirement visa pathway has no ‘Investment Success’ criteria.

3. Assets

The applicant must posses a minimum of AUD1,125,000 for the two years prior to lodging a 160/800 Series Investment visa. For a Recurring Investor Retirement visa, the   applicant must possess a minimum of AUD500,000 for the two years prior.

4. Investment

A ‘designated investment’ of a minimum of AUD750,000 must be made for a 160 Series Investment visa. For a Recurring Investor Retirement visa, the applicant must make   a ‘designated investment’ of a minimum of AUD500,000.

5. Income

A Recurring Investor Retirement visa requires a minimum net income of AUD50,000 per annum. A 160/800 Series Investment visa has no specific income requirements.

6. Health and Character

Australian visa applications require the applicant to be of good health and character.

What about my family?

Family members may be attached as dependents to a 160 Series Investment visa. All members of a family unit must pass Department of Immigration and Citizenship (‘DIAC’) health and character requirements. No family members can be attached to a Recurring Investor Retirement visa.

Will my family and I be able to work and study?

All members of a family will have access to work and study rights in Australia on a 160/800 Series Investment visa.  In contrast, the Recurring Investor Retirement visa possesses limited work and study rights.

Full work and study benefits, such as the Higher Education Contribution Scheme (‘HECS’) and Medicare, will only become available to persons who obtain Australian permanent residency or citizenship.

Will I have to live in a particular area of Australia?

For both the 160/800 Series Investment and the Recurring Investor Retirement visa the applicant has the option of specifying that they will remain within designated area in Australia. These areas are generally in regional or low growth areas. Applicants who choose not to provide this guarantee to the DIAC will have to fulfil asset, investment and income criteria.

Legal Representation

The laws and requirements surrounding Investment visas can be complex and difficult to understand. The various eligibility criteria can be both confronting and confusing, and it can be difficult to translate these legal terms into the immigration possibilities an Australian investment visa holds. Evidence from previous years suggests that few applicants have chosen not to gain some form of representation or assistance.

A lawyer will guide you through the various immigration options you may posses and assist with the presentation of the applicant’s case to the DIAC. A lawyer may liaise with other professional service providers on your behalf and/or communicate with your accountant. Experienced law firms, such as Berrigan Doube Lawyers, will be able to assist you with the complications of overseas investment in addition to providing you comprehensive aid in purchasing a property, business and family law.

The information in this article is intended as introductory information only and is no substitute for legal advice. If you have a migration matter or are after legal advice on how to contest a visa refusal please contact Berrigan Doube Lawyers.