Ever wondered why most first-world countries today have a booming and stable economy? Aside from their efficient government system, these countries also offer enticing citizenship and residency by investment programs to attract investors. A perfect example of this is Australia’s significant investor visa.
Let us find out how Australia managed to accumulate billions of dollars from its significant investor visa system. And as to why businessmen around the world won’t miss to avail it.
Significant Investor Visa: The Data
According to the experts, Australia is doing a great job raising their funds’ thanks to its citizenship programs. The Australia Home Affairs Office reveals they’ve approved an astounding 2,264 SIV visas from 2012-2019. For this time-frame, the country has accumulated a staggering 11.3 billion AUD!
The government says these huge funds allowed them to invest in the business, infrastructure, and social services. The Council further reveals the top nationalities where they attract investors the most. Among the top comes the Chinese market. The Chinese investors contributed a staggering 9.6 billion AUD of investments through the SIV Visa Scheme.
Countries with Significant Investor Visa Scheme
Around 86.3% of Chinese investors applied for a significant investor visa. They have an astounding 85.4% approval rate. Next in line is Hong Kong, with over 4.1% application and a 3.4% approval rate. Malaysia comes next with 1.3% application and 1.8% approval rate. Lastly, South Africa and Vietnam come with a 1.1% application and 1.5%, 1.3% approval rate, respectively.
Significant Investor Visa Ruling
The government also says the Significant Investor Visa serves as a pathway for significant migration investment in the country. The investors who avail of SIV program are eligible for Business Innovation and Investment Visa program. They’re also candidates for residency and citizenship programs.
The significant investor visa program was first launched on 24 November 2012. The applicant must secure an invitation and have an intent to live either in the State or Territory. Aside from that, the investor must maintain their investments for up to four years.
Why Australia Attracts Wealthy Asian Investors
According to the council, Australia takes pride in being the primary choice for investment and immigration for most wealthy Asian millionaires due to a myriad of reasons. The investors said they love Australia’s stable political system. The country’s strategic location is also near mainland China.
Australia also hails as one of the best education systems and universities around the world. Not to mention they have a high standard of living and the largest real estate property market. For these reasons, it’s no wonder most investors prefer to avail significant investor visa and move to Australia.
Significant Investor Visa Time-frame
According to studies, the states of Queensland, New South Wales, and Victoria are the top beneficiaries for SIV visa investments. In 2019, New South Wales received a total of 76 investment programs and sponsorships from SIV. Queensland comes next with 13 investment programs. Victoria receives less than 10 and West Australia with 9.
If you’re interested in avail Australia’s Significant Investor Visa, you can contact Australia Home Affairs Office for the requirements and application process. Furthermore, it usually takes around 26 months for the visa to get approved. However, slight differences may be encountered based on your type of business to invest in.
There’s no doubt that Australia hails as one of the top citizenship immigration destinations in the world. But it comes with a price since you need not only invest a hefty amount, but you also need to conform with their strict guidelines. If you’re looking for an alternative, though, you can check out this citizenship by investment countries programs.