Introduction
The Australian Golden Visa is a business opportunity that attracts businessmen and investors as they contribute to the economy of the country. Those applicants who want to start their business in Australia can start by investing AUD1.25 million in the country. The person who is investing and pursuing their business can reside for up to 5 years in the country. There is also a possibility that they can obtain permanent residency in the country.
What Is Australia’s Golden Visa?
The golden ticket visa of Australia is also known to be a significant provisional visa. The applicants for this visa can stay up to 5 years in the country. All that the investor has to do is put his funds in business for the country. This visa can also allow the applicants to apply for permanent residency.
Australia Golden Visa Requirements
Australia has started a program of golden visas. With this visa, wealthy people are allowed to start their businesses and live in the country. Other visas are the same, like 188 (business innovation and investment) and visa 891. Australia’s Golden Visa, officially called the Significant Investor Visa (SIV), was a pathway to permanent residency through investment. However, it was discontinued in 2023. Previously, applicants were required to invest AUD 5 million in designated sectors to qualify.
There are requirements that also need to be fulfilled:
- Their source of income should be legal.
- They should have experience in business.
- They should meet the character requirements.
- Applicant should be under the age of 55 years, except the state or territory certifies that the applicant will provide exceptional economic benefit to the country.
- On business innovation and investment, applicants should score at least 65 points.
- Applicants should not have any debt to the government of Australia.
- The visas of the applicants have not been revoked, or their application to Australia has been rejected.
- Applicants should have an IELTS certificate.
- Applicants should qualify the health requirements and should have a health insurance policy.
- Applicants should not have any chemical record where the applicant resides.
The requirements for the subclass 891 visa are:
- The applicants should sign Australian value statements.
- They should meet the health, character, business, and residence requirements.
- The applicants should hold subclass 162 subclass.
Australia Golden Visa Cost
Australia’s Significant Investor Visa (SIV), commonly referred to as the “Golden Visa,” requires a minimum investment of AUD 5 million in complying investments. The visa application fee starts at AUD 2,890. For the eligibility of the golden visa, you have to focus on certain things:
- You have to be nominated by state or territory government agencies.
- On the test, you have to score at least 65 points.
- You must have a net worth of at least AUD2.5 million.
- You must invest AUD2.5 million if asked to apply that satisfy certain requirements after July 1, 2021.
- You must invest AUD1.5 million if asked to apply that satisfy certain requirements before July 1, 2021.
What Can You Do with an Australian Golden Visa?
- As we know, a golden visa allows people to start their business in Australia.
- This visa will allow the holder to study, work, and live in Australia.
- With this visa, they can also enrol in Medicare.
- They can also sponsor people from other countries.
- They can also travel to and from Australia for up to five years.
- After getting a visa, they can also apply for citizenship of Australia.
Related Visa: Business Visa Australia Requirements: Everything You Need To Know!
Step-By-Step Process to Apply for Investor Visa Subclass 891
Here are steps to apply for subclass visa 891:
- Applicants have to choose the appropriate subclass before applying for visas.
- Applicants have to submit all the necessary documents that are required in visa applications.
- Applicants after checking all the things have to complete the application correctly.
- After completing the application, the cost has to be paid by the applicants.
- After completing the fees, the visa applicant has to make an appointment for submitting the form.
- Applicants can get tourist visas if all the criteria of eligibility have been fulfilled.
Golden Visa Processing Time
Golden Visa processing times vary by country and program, typically ranging from a few months to over a year. Factors such as application completeness and processing backlogs can impact the timeline.
Australia:
Processing times for the Golden Visa (Business Innovation and Investment [Provisional] visa – Subclass 188) typically range from 4 to 15 months. The timeline depends on factors such as application completeness and the time required to receive supporting documents.
The processing time for the visa can change and depend on many factors, like:
- The application has to be complete and done in the correct way.
- It depends on the response time an applicant takes to reply.
- It depends on the time an applicant takes to receive supportive information.
- It depends on the time of information it gets from external agencies.
Recent Post: Everything You Need to Know About the Resident Return Visa Australia
Conclusion
In conclusion, everyone has a dream to get the golden visa of the country. But before applying, know all the ways you can apply for this visa. For many years, migration agents perth helped in getting the visa. They help in getting all the paperwork done very smoothly. If you need to consult the best migration agent for a hassle-free process,.
FAQ
How much do I need to invest in Australia to get PR?
$1.5 million to $5 million
Investment Requirements: Depending on the stream, applicants were typically required to invest between AUD 1.5 million and AUD 5 million in complying Australian investments.
Residency Requirements: Varying by stream, the residency obligation generally ranges from 2 to 5 years.
