SIV is a programme that allows residency through investment. The financial requirement for this type of visa programme is about 5,000,000 Australian Dollars minimum. There are certain acceptable investments that are provided under this programme. After five years of investing, you will be able to secure Australian citizenship.
Through SIV or Significant Investor Visa you will be able to live, work and study in Australia. There is a high standard of living in Australia which makes it an attractive destination to live and work in. And the healthcare system and education system are at a high level. Once you are awarded the visa, you will be able to bring a spouse or partner. You will also be able to bring children who are under the age of 18 or up to 23 years that are dependent upon you.
One of the benefits of this visa class is that there are no points that you need to satisfy and English language proficiency is not required. You will also be able to extend the provisional visa that you receive up to about 4 years. With a provisional visa, you can work towards achieving a permanent visa which will then lead you towards citizenship. There is no upper age limit to this visa category and it is a great way of achieving citizenship in the country.
There are many investment options that you can consider. You need to make sure that the investment you make complies with all the regulations that are specified under this scheme. A significant investment should be made with the intention of holding that investment for the duration of the visa.
You should at least invest 1 million Australian dollars in private equity funds that have invested in small private companies and start-up companies. There are certain approved managed funds where you can invest a minimum of 1.5 million Australian dollars with regards to merging companies that are listed on the stock exchange of Australia. There should be about 2.5 million Australian dollars invested in managed funds that include investments in a variety of assets. You can withdraw the investment but you need to make sure that it is reinvested in a complying investment within 30 days.
There should be a minimum of 5 million Australian dollars invested as per the above description for the duration of the visa. This duration is about five years. However, the funds or assets that you are investing should be proved as lawfully acquired by yourself. Before you apply for permanent visa, you should have physical residence in the country for about 40 days per year if you are a primary visa holder or 180 days per year if you are a secondary visa holder. There are certain health and character requirements that you should meet to be eligible for this scheme.
To begin this process, you will need to submit an EOI through a skill select online service so that you are nominated by a state or territory government. Once you receive the nomination and an invitation to apply for the scheme, you will need to submit the online visa application within 60 days.