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Australian Golden Visa Scheme: All that You Wanted to Know

TeamAckoOct 25, 2024

The Golden Visa Australia program targets high-net-worth individuals and investors in life, work, or a business running in Australia. Even though Australia does not use the term "Golden Visa," the definition of a similar program is Significant Investor Visa (SIV), where investors can gain permanent residency by making significant financial contributions. This guide covers what is Golden Visa in Australia, the Australia Golden Visa cost, and eligibility requirements.

Contents

What is a Golden Visa in Australia?
How the Australia Golden Visa works
Australia Golden Visa Cost
Australia Golden Visa Requirement
Advantages of Australia Golden Visa
How to Get Golden Visa in Australia
How to Get Australian Golden Visa-Pathway to Citizenship
Conclusion
Frequently Asked Questions

What is a Golden Visa in Australia?

The Golden Visa Australia, or Significant Investor Visa (SIV), is a residency-by-investment program designed to attract affluent investors to Australia. What is Golden Visa in Australia? It is a gateway to permanent residency for foreign nationals who make a qualifying investment in the country. The visa falls under the Australian Business Innovation and Investment Program (BIIP) which is financially motivated by key economic growth and attraction of much needed capital to key sectors.

How the Australia Golden Visa works

Applicants under the Australia Golden Visa program make sizable investments into the Australian economy's sectors. Once the investment is held, the applicant and his/her direct family members can be granted permission to live and work in Australia. Once the visa requirements are met, then the applicant is qualified to get permanent residency.

Australia Golden Visa Cost

The Golden Visa Australia program permits Significant Investor Visa applications from applicants willing to invest a minimum of AUD 5 million(approx USD 3.7 million) in complying investments. The investments are broken down into:

Venture Capital or Growth Private Equity Funds: Start-ups receive a minimum of AUD 500,000.
Emerging Companies: AUD 1.5 million in either start-up or listing-on-the Australian Stock Exchange seeking companies.
Balanced Investments: AUD 3 million in government bonds or in managed funds among other assets.

Admittedly expensive, you can apply for permanent residency and citizenship through the visa.

Australia Golden Visa Requirement

The eligibility requirements for the Australia Golden Visa are based on the investment criteria and other general eligibility conditions. These are:

Investment Threshold: This is as earlier said whereby the applicant should invest at least AUD 5 million in complying investments.
Age: There is no age limit for this visa.
Health and Character: Applicants must pass health checks and provide police certificates to show they meet the character requirements.
Investment Period: The investment has to be maintained for at least four years before permanent residency eligibility resulting from the application arises.
Residency Requirements: The applicant has to stay in Australia for at least 40 days a year over the four years while they hold the temporary visa. Alternatively, their spouse has to stay in Australia for at least 180 days a year over the same period.

Therefore, these Australia Golden Visa requirements ensure that only authentic investors who can contribute to the economy qualify for the visa.

Advantages of Australia Golden Visa

There are various benefits that investors and their families can enjoy through the Golden Visa Australia. Some of the key advantages include the following:

Eligibility to Permanent Residency: After completing the investment period of four years, applicants can apply for permanent residency.
Incorporation of Family Members: Spouse and dependent children of the main applicant are incorporated to be granted just the same rights regarding residency.
Rights to Work and Study: Visa holders may work and study in Australia as well as their children go to Australian schools and universities
Health Benefits: Visa holders include gaining access to Australia's public health-care system, Medicare, which covers full health coverage.
Travel Flexibility: The visa allows multiple entries, so the visa holders are also facilitated for easy entry into and out of Australia .
No Language Requirement: Contrary to most other visa types, the Golden Visa Australia does not expect the applicants to present proof that they will be fluent in the use of the English language.

All these benefits concerning the Golden Visa Australia make it a pretty attractive package for high net worth individuals who are interested in settling down in a stable and prosperous country .

How to Get Golden Visa in Australia

What is the process to obtain an Australian Golden Visa? As such, there are a number of steps to get through this process:

Identify Complying Investment: Identify which complying investments meet the requirements of the Significant Investor Visa. They must have with them investments that align with regulations as defined by the government of Australia.
Complete an Expression of Interest: There will be an initial EOI to complete before the visa can be filed, completed through the SkillSelect system, meant to indicate interest in investment and living in Australia.
State or Territory Nomination: Applicants must get nominated by an Australian state or territory government. This is the first requirement to be met before applying for the visa.
Apply for the Visa: After receiving nomination, you are allowed to lodge an application together with all relevant documents, including proof of investment as well as proof of identity.
You receive your Visa: Once your application is approved, you'll receive a provisional visa valid for four years. With this visa, you have to retain the investment and meet the requirements for residency.

The process of how to obtain an Australian Golden Visa is simple, but it does require an enormous financial commitment and thorough planning ahead.

How to Get Australian Golden Visa-Pathway to Citizenship

One of the major attractions offered by the Golden Visa Australia is the potential for a pathway to permanent residence and subsequently, citizenship. Having held the Significant Investor Visa for four years and having complied with the investment and residency requirements, you would be eligible for the permanent residence application. Once you achieve permanent residence status, you will be eligible to apply for Australian citizenship after having complied with the residence requirements.

Conclusion

The Australia Golden Visa represents an exceptional chance for individuals having considerable funds at their disposal to invest in one of the world's most stable and prosperous economies, besides becoming one of the first generations of immigrants to one of the most sought-after places on earth. This visa, aside from the requirements to be fulfilled regarding the Australia Golden Visa, would ensure long-term residency for one's family and self, as well as open ways to top-tier healthcare, education, and business possibilities for the individual. In turn, the Golden Visa Australia grants the individual the right to take a high road leading to permanent residency and, in the not too distant future, to citizenship. This presents an exceptional opportunity for investors to settle in a global economic hub.

Frequently Asked Questions

The frequently asked questions about the australia golden visa are covered in this section.

How do I get a 10-year Golden Visa?

In Australia, the Golden Visa (Significant Investor Visa) offers residency for up to four years, with the option to renew or transition to permanent residency after meeting the investment requirements. Unlike some other countries, Australia currently does not offer a 10-year Golden Visa.

Who is eligible for the Australia Golden Visa?

Investors, entrepreneurs, and individuals with significant business interests are eligible for the Golden Visa Australia, as long as they meet the investment and residency requirements.