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As everyone knows that owing to Donald Trump’s ascension to Presidency of the United States and Brexit, Australia has become one of the most preferred nations to emigrate to for Emiratis.
A growing economy, it was one of the few countries that unaffected by recession for the past twenty-five years, even as the most developed economies in the West and the US saw their economies feeling the heat.
The Land Down Under, which is the twelfth largest economy in the world, has also low unemployment rates, low crime rates, world-class educational institutions, one of the best infrastructures and so on. Because it is a tourist-friendly country, travelers from all over the world throng to the Land of Plenty, as Australia is also known, giving its economy a further boost. We should not forget that financial services sector of Australia is also thriving.
Given all these factors, the federal government of Australia is encouraging foreign investors to enter into its territory and reside there. There are many visas for foreign investors who intend to start or run an existing business there. With these visas, foreigners become its permanent residents and if they do well, people of the UAE can earn the citizenship of Australia.
There are three types of Australia Investment Visa.
The Business Innovation and Investment (Provisional) visa (subclass 188) allows people to invest money and skills in the country. A provisional type of visa for investors in Australia is initially given for four years. After this period lapses, the visa expires. It the investment has proved to be fruitful and has proved profitable for Oz too, then visa holders are given the option to apply for subclass 888, which is a permanent visa.
There are four routes to apply for this 188 investment visa:
1.) People must be ready to invest A$1.5 million in a startup or an existing business. In order to be eligible for this, prospective investors should get the government’s nomination.
2.) Australia’s SIV (significant investor visa) is given to people who would like to invest more than A$5 million into a new or an already existing enterprise. Here too, prospective investors need to get the nomination from the government or Austrade, the trade, investment and education promotion body of the Australian government.
3.) Australia’s PIV (premium investor visa) is given to investors who are ready to put in over A$15 million in the company and be active in its business. Austrade’s nomination is a must for this.
4.) Business innovation visa of Australia is granted to entrepreneurs with expertise in a certain field and they must set up and run a business in the country. Government’s nomination is necessary for this.
This visa allows its holders to enter and leave Australia any number of times within the four-year duration. it also allows them to bring their families to Australia.
To be eligible for this visa, people should not be aged more than 55. This is, however, relaxed for investments which the federal government may believe is very beneficial to the country; the investors should have had a good track-record in investments earlier; must pass a special test to get an approval of their investment skills; must be in good health and be pleasantly disposed; and must have net properties and business with which they can generate over A$2.25 million per year.
To apply for an Australian immigration investor visa, applicants need to register in Skill Select, the Australian government’s online system. In the claim, applicants should describe their business and submit their investment plans in the country going ahead. People who are invited can start preparing for their Australian investor visa.
After the invitation is received, foreigners have a deadline of 60 days for filing applications. Here, it is advisable to avail professional service. This will cut down redundant documentation and they get an assurance that all required papers will be gathered and submitted on time.
To be eligible, people must submit documents to support all information mentioned in their application for investor visa for Australia. It is better to send more documents as they improve their chances. All necessary documents must be in English.
Once applications are submitted and they are approved, Australian investor immigration visas will be ready in about nine months.
While preparing applications for qualifying for visa 188 of Australia involves completing the forms and qualifying in the tests. One has also to pitch in with meticulously prepared ‘Expression of Interest’ – an important document that defines applicants’ skills, business and motivation. The investors should also convey that their businesses would be unique and would help the economy of Australia.
Three steps are involved in applying for getting citizenship. The successful candidates in the first step get the 188 visas under three sub-categories of business innovation, investment in a business or being termed as a significant investor. To be eligible one must get a minimum of 65 points for which applicants English proficiency levels, age, educational qualifications, prior experience in business acclivities, prior experience in investment and prospective investors need to get a special testimonial from a state or territory nominating them. After the conclusion of the four-year period with the 188 visas, the investors and families can apply for the Australia permanent Business 888 Visas. But to apply for it, they need to satisfy one of the two requirements.
The investors need to prove that their net asset values are a minimum of A$600,000, that they had Australian businesses continuous ownership interests and that their business created employment for Australian nationals.
Alternately, investors need to demonstrate that they have made an investment, which was for a minimum of four years.
If people gain citizenship of Australia, they benefit in numerous ways. Once the applications of investors are approved, they will be eligible to get their passports of the country, allowing them to travel without a visa to over 160 countries. Citizenship of Australia also grants the right to vote in all governmental elections and are permitted contest for parliamentary positions.
If you are looking to emigrate to Australia, get in touch with Y-Axis, a prominent immigration consultancy company, to apply for a visa from one of its several offices.