There is no straight up citizenship in Australia by Investment. Instead, it offers avenues for substantial investment that can potentially result in citizenship and permanent residency.
The Business Innovation and Investment Program (BIIP), namely under the subclass 188 visa, which can convert to the subclass 888 permanent visa and Investor Stream program as the two major pathways that offer an opportunity to attain Australian Citizenship by Investment.
Business Innovation and Investment Program (BIIP)
This Program gives investors a choice of four visa streams. A profitable business career, an indication of business success, ownership interest, a minimum yearly turnover of AUD 750,000 for two out of the four financial years, a minimum of three years of experience in business or as an investor, the intention to live in the nominating State or Territory, a funding agreement with a third party for entrepreneurial activities, and a business plan are requirements for being accepted into this program.
Investor Stream Visa Program
Investment choices offered by this program include real estate, money, securities, private firms, and charitable foundations. The duration of the Investor Stream Visa Program is three years. It makes it easier for foreign investors to live permanently with Australian Citizenship by Investment Program..
A minimum investment of AUD 2.5 million, a pledge to sustain the investment for a minimum of three years or until permanent residence is obtained, and a five-year resident permit are the prerequisites for the Investor Stream Visa Program.
Steps to Acquire Citizenship in Australia by Investment
Individuals who wish to become citizens by Australia citizenship by investment program must first apply for an investment visa, which has minimum requirements of AUD 2.5 million and a three-year commitment to sustain the investment.
It is necessary that the applicants fulfill the residency criteria, which include a four-year legal presence in Australia, of which one year must be spent as a permanent resident.
Application of Investor Visa
Sending in an Expression of Interest (EOI) is the first step towards applying for an investor visa as a part of Australia citizenship by investment program. Following submission, the EOI will be examined by a State or Territory government agency, and if accepted, a nomination will be sent to the applicant so they can apply for an Investment Visa.
An essential step in the procedure, the nomination forms the foundation of the investment visa application. After the investment visa is granted, the applicant and their relatives can start the process of becoming citizens of Australia.
Conclusion
The Australian Citizenship by Investment Program is complex and requires meeting a number of qualifying requirements in addition to a sizable financial commitment. High-net-worth persons can become permanent residents and eventually citizens of Australia by investing there.
Through a meticulous assessment when you apply for Australia citizenship by investment of variables and a comparative analysis of Australia’s Citizenship by Investment scheme with those of other nations, investors can arrive at a well-informed determination of the most effective route to attain their monetary and lifestyle objectives.
FAQs
- Does Australia sell citizenship?
No, Australia does not sell its citizenship. Through certain investment visas, investors can qualify for permanent residency. However, as a part of maintaining the status of permanent residency, the investors should maintain the status of its investment,
- What is the minimum amount of investment required to become a citizen?
A minimum amount of 600,000AUD is required to hold the status of citizens in Australia,
- What is the minimum amount of investment for Australian citizenship through investment?
A minimum amount of AUD2.5 million is required as a part of the investor visa scheme.
