To make it big abroad and expand horizons, Australia Investment Visa could be a very good option. Today, Oz ranks as the most favorable immigration destination for the foreign investors. The nation’s two major cities, Melbourne and Sydney, are home to majority of migrants and thus they are the most bustling metropolises.
Annually, along with a large number of tourists, the country also attracts 1000s of foreign investors who migrate to the country with the intention of taking advantage of its amazing investment opportunities.
Oz has the twelfth largest economy and the fifth highest per capita income in the world. Its economy is mainly based on tourism, education and financial industries, and is extremely rich in natural resources such as iron ore, wool, gold, and wheat.
Down Under encourages the foreign investors to migrate through its numerous investment based streams. These classes lead to the prized Permanent Residency (PR) and later candidate can apply for the much sought after Australian citizenship and settle indefinitely with their family. Thus, for the candidates, it’s a golden opportunity not to be missed.
The Department of Immigration and Border Protection (DIBP) has set up a three step process. The first and foremost step is for the foreign investors to apply for Temporary Residence Permit (TRP). The DIBP offers many temporary visas and numerous foreign investors are benefited by the 188 Visa.
To receive a TRP, under the 188 Visa, the candidate must qualify for one of the sub categories, such as business innovation, business investment or significant investor. Under the category, the candidate can bring along their family i.e. spouse or common law partners and dependent children.
Additionally, at the time of submitting the application the candidate must be below 55 years, must submit a detailed business plan–either to establish a completely new venture or invest in an existing one–and must score at least 65 points on the Points Grid, based on various factors, such as language proficiency, education, business experience, age, state or territorial nomination.
Once the candidate has met the set criteria for the Australia Investment Visa Subclass 188, they are issued a TRP for a period of four years. At the end of the period, the candidate may submit an application for the Permanent Business Visa, i.e., 888.
To qualify for the Visa 888, the candidate must meet one of the following two criteria. First, he must prove that he possesses legally acquired net value of at least 600,000 Australian Dollars. Additionally, the candidate must continue to maintain ownership interest in a business in the country and must successfully employ Australian citizens.
Secondly, the applicant qualifies for a business and has successfully sustained the investment for not less than four years. If he successfully meets the above requirements he will be granted a PR Visa.
Australia Investment Visa will ultimately lead the investor to Australian citizenship. Once the candidate has live in the country for at least four years, he can apply for Citizenship through the official process known as naturalization.