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Australian Golden Visa: Your Gateway to Permanent Residency

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A Golden Visa in Australia is termed a Significant Investor Visa in the country. This is a special residency-by-investment program ideally crafted to attract promising investors to the country and ensure further prosperity.

The Golden Visa Australia scheme is a unique gateway to permanent and complete residency for foreign individuals making promising investments here. This special visa scheme falls under the Australian Business Innovation and Investment Program.

This has been uniquely crafted to promote business and economic growth and prosperity, especially in the key capital sectors.

How does the Australian Golden visa work?

It is mandatory that every applicant of the Australian Golden Visa scheme must maintain significant investments in the Australian economic sectors. Once this/these investment(s) are successfully implemented, all the concerned investors and their immediate family members are granted valid permission to stay and work there. Once they meet the relevant visa requirements, they can easily qualify for permanent residency in Australian land.

Australian Golden Visa cost

To cut a long story short, not everybody can attain the Australian Golden Visa program. The concerned individual must be willing to invest at least 5 million AUD, which is approximately equivalent to $3.7 million (US) in the category of complying investments.

These investments can be classified into certain specific categories:

1. Growth Private Equity funds or Venture capital funds: This particular category defines specific start-up businesses receiving at least AUD 5,00,000.

2. Emerging companies: These refer to companies which have already received a listing on the Stock Exchange of the country with a minimum investment of AUD 1.5 million towards a valid start-up.

3. Balanced investments: These refer to a minimum investment of AUD 3 million towards government bonds or several other managed funds among various other asset classes.

You can also apply for Australian citizenship and permanent residency through your existing visa, noting that it will prove to be significantly expensive.

Australian Golden Visa requirement

Acquiring the Australian Golden Visa is not easy, to say the least. You need to meet certain specific requirements to reach your target. The eligibility criteria are as follows:

1. Threshold of investment: As mentioned earlier, the concerned applicant must invest a minimum of AUD 5 million towards complying with investment schemes.

2. Age criteria: There are no age criteria specified under this scheme. If you fulfil all the other conditions, you can acquire it at any point, irrespective of your current age.

3. Character and health: All the applicants must undergo specified health check-ups and present the necessary police certificates to reveal that they meet all the necessary character specifications.

4. Investment period: You have to maintain the necessary investment portfolio for a minimum of 4 years before your eligibility for permanent residency arises.

5. Residency protocols: For residency eligibility, the concerned applicant must live in the country for a minimum of 40 days one year on top of the 4 years as long as they are holding the temporary visa. The applicant’s spouse must stay in the country for a minimum of 180 days a year over a similar tenure.

So, we can see that the Golden Visa Australia scheme ensures that exclusively valid and authentic investors are filtered out, successfully contributing to the positive development of the country’s economy to successfully qualify for the visa.

How do you get a Golden Visa in Australia?

It is evident that acquiring the Australian Golden Visa is not easy. You need to fulfil specific eligibility criteria and follow these steps to reach your target:

1. Identification of the complying investment: Critically identify which type of complying investments qualify for the Significant Investor Visa scheme. They must maintain investments which comply with the specified rules and regulations of the Australian government.

2. Expression of interest completion: You must fulfil a primary EOI before you file for the new visa. This is usually completed through the SkillSelect System, which is specially meant to reveal the investment interest and Australian stay.

3. Nomination by territory or state: The concerned applicant(s) must be unequivocally nominated by a specific Australian state or territorial government body. This is the very basic requirement you have to meet before you can apply for a visa.

4. Visa application: Once you are nominated, you can apply together with all the necessary documents, including identity proofs and investment proofs.

The basic procedure for obtaining the Australian Golden Visa is not too complex. However, it requires immense financial dedication, potential, and commitment with careful and thorough planning beforehand.

Advantages of the Australian Golden Visa

The Golden Visa Australia scheme offers more benefits than one. These benefits can be enjoyed not only by the investor but also by his/her family. Some of the major benefits of the Australian Golden Visa include the following:

1. Eligibility for permanent residency: Once the initial investment period of 4 years is complete, you can apply for permanent residency.

2. Incorporating the family members: The spouse and dependent children of the principal applicant get automatically incorporated. They, too, can enjoy similar rights and prospects regarding Australian residency.

3. Right to study and work: The visa holders may study and work in the country, and so can their children. They can use Australian schools and universities for higher education.

4. Health benefits: Visa holders may access public healthcare facilities in the country, and Medicare benefits include health coverage.

5. Flexibility in travel: This visa allows multiple entries. Therefore, visa holders can enjoy hassle-free and flexible travel opportunities.

6. Zero language requirement: Unlike several other types of visas, the Australian Golden visa does not expect applicants to prove they are fluent in English.

All the unique advantages make the Australian Golden Visa scheme a very attractive package, especially for individuals with high net worth who are willing to secure and settle their future in such a prosperous country.

How do you get the Australian Golden Visa- pathway to citizenship?

The Australian Golden Visa scheme stands out for its direct pathway to permanent residency, leading to citizenship. After holding the Significant Investor Visa for four consecutive years and meeting all residency and investment requirements, you become eligible for permanent residency.

Once you receive the status for permanent residency, you qualify to apply for permanent citizenship in the country, provided you have fulfilled the residency criteria.

Conclusion

We have highlighted all the significant aspects of Australia's Golden Visa Scheme. Although this is quite a faraway shot, you can always undertake a trip to witness the beauty of the country. To enjoy a smooth holiday, you need to maintain reliable travel insurance for Australia or a comprehensive international travel insurance policy.

FAQs

1. What is the procedure to acquire a 10-year Golden Visa in Australia?

The standard tenure permission under the Australian Golden Visa scheme is up to 4 years. Once you fulfil the investment requirements, you can renew or transmit it to permanent residency. However, under the current circumstances, Australia does not offer a 10-year Golden Visa opportunity, unlike many other countries.

2. Who is eligible for an Australian Golden Visa?

Individuals with high net worth and significant business interests, entrepreneurs, and investors usually qualify for the Australian Golden Visa scheme.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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