WHAT IS THE SIGNIFICANT INVESTOR VISA?
In 2012 the Australian Government introduced the SIV or the Significant Investor Visa whereas foreign citizens would have the opportunity to obtain permanent residency in Australia by complying with 2 requirements. They must have atleast AU$5 Million and with this must invest in complying Australian Investments.
Run by the Department of Immigration and Border Protection (DIBP) the SIV is part of the Business Innovation and Investment Program (BIIP). To aid in the economic development of Australia the SIV was revised by the Australian Government in 2015 where direct investments where made into sectors.
WHAT ARE THE VISA REQUIREMENTS?
Over a minimum period of 4 years the SIV applicant must invest atleast AU$5 Million in the following:
- AU$500,000 minimum in venture capital fund(s)
- AU$1.5 million minimum in managed funds satisfying the emerging companies investment criteria
- The remainder in managed funds satisfying the balancing investments criteria
In satisfying requirements of the government, the via provide work, study and travel rights to the investor/applicant and also includes their immediate family and dependent relatives.