For many years, international investors have seen Australia as a safe and fertile place to grow their wealth. Indeed, according to the Australian Government's Department of Foreign Affairs and Trade, Australia had received AUD3.8 trillion in inward investment by the end of 2019, with the biggest sources being from the United States, United Kingdom, Belgium, Japan, and Hong Kong. They also say that Australia has the 14th highest level of investment of any country in the world, ahead of countries such as Spain, Belgium, Mexico, Italy, and Russia. In terms of where foreign investors choose to place their money, 35.3% goes to mining and quarrying, followed by 12.9% for manufacturing, and 11.1% for financial and insurance activities.
If you are considering investing your funds into a venture in Australia, the Australian government provides a streamlined immigration pathway for you and your family members. In this article, we will outline the process of securing an investor visa for Australia.
If you are applying for an initial investor visa, it is likely you will do so using the Business Innovation and Investment (Provisional) visa (subclass 188). This allows you to own and manage a business, conduct business, and investment activity, or undertake an entrepreneurial activity in Australia. There are several investor streams under this route, catering for different investment levels:
There are several steps to securing an investor visa in Australia. In all cases you will first need to submit a formal 'expression of interest' (EOI), then wait to be nominated by a State or Territory government, or Austrade (the Australian government's trade and investment agency). In the case of the premium investor stream, applicants must be nominated by Austrade. If you are nominated, you will then be invited to apply for an investor visa. The detailed steps are as follows:
The EOI process is completed online on the Australian Department of Home Affairs' Skillselect website. You will be asked a range of questions and your answers will be scored. If you pass, you may then be selected to apply.
For this, you will need (as shown on the Department of Home Affairs website):
You will also need to pay the application fee of AUD$5,375 for the investor stream, AUD$7,880 for the significant investor stream, and AUD$9,455 for the premium investor stream.
As you can see, the processing of applying for an investor visa also requires a considerable investment of time. For this reason, it is always recommended that you use the services of international immigration lawyers who can manage the whole process for you, only involving you or your team when needed. This not only removes the burden of completing the application and the necessary supporting documents, but it also ensures that you have the best chance of securing a positive decision the first time. This, in turn, means that you can make your intended investment in a timely manner and that you can take advantage of the opportunity you have found.
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