(Source: Australian Government – Department of Immigration and Citizenship)
Q.What requirements do I need to meet to be eligible to apply for a permanent Significant Investor visa?
A. To be eligible to apply for a permanent Significant Investor visa you must:
- Be nominated by a State or Territory government
- Have continuously held complying investments for the life of your provisional Significant Investor visa
- Have held the provisional Significant Investor visa for a minimum period of four years; and
- Have met the residence requirement
Q. Is it possible to invest in property?
A. Investments in property will not be considered as a complying investment. You may however invest in ASIC regulated managed funds which may invest in real estate in Australia.
Q. When do I need to make the complying investment?
A. You will be required to make the investment before the grant of your visa. The complying investment must not be made until you have been informed by the office processing your visa to do so. This is to ensure that you have met the remaining visa criteria, including health and character requirements for this visa, prior to making a financial commitment.
Q. If I am nominated by a specific Australian State or Territory, am I allowed to move to a different State or Territory?
A. When you are nominated by a State or Territory for a provisional Significant Investor visa, it is the expectation of the Department and the State or Territory government that has nominated you that you have a genuine intention to reside in their jurisdiction
Q. Can I extend my Significant Investor visa?
A. If you meet the requirements for the Significant Investor Extension stream you are able to be granted another provisional Significant Investor visa if you would like to. You will be able to apply for a maximum of two additional provisional visas in the Significant Investor Extension stream, bringing the maximum total period on a provisional Significant Investor visa to eight years.
Q. What does it mean to hold the complying investments for the life of my provisional Significant Investor visa?
A. It means that you must hold your original complying investment continuously until you apply for a permanent Significant Investor visa (for any reinvested complying investments, you are considered holding them continuously if you satisfy the reinvestment requirements). It includes the duration of your original four year provisional Significant Investor visa and any extension visas granted afterwards.
Visa condition 8557 will be placed on your provisional Significant Investor visa which requires you to maintain the complying investment. If you breach this condition your visa may be subject to cancellation.
Q. Do I still have to hold complying investments once I am granted a permanent Significant Investor visa?
A. If you are granted a permanent Significant Investor visa, you can decide for yourself what you want to do with your complying investments. To be granted a permanent Significant Investor visa, you must genuinely have a realistic commitment to maintain business or investment activities in Australia, but they do not need to be complying investments.
Q. What is the residence requirement for the Significant Investor visa?
A. To be granted a permanent Significant Investor visa, primary visa holder must be resident in Australia for at least 40 days for every year or part year that they have held a provisional Significant Investor visa. The residence period does not need to be met per year but can be met cumulatively over the time the primary visa holder held the provisional visa.