Why consider alternatives to Australia Golden Ticket visa?

Highlights of Australia Golden Ticket Visa

• The Golden Ticket visa has been a subject of discussion at the Jobs and Skills Summit.
• Minister Clare O'Neil called for the need of promoting investor visas that make way for economic and social development.
• Alternatives to the Golden Ticket visa could become major pathways to investor immigration to Australia.

Are you interested in the Significant Investor provisional visa (SIV), also called the Golden Ticket visa to immigrate to Australia? If yes, then you have to read further.

A recent opinion raised by Australia’s Home Affairs Minister Clare O'Neil has put the Golden Ticket visa under the spotlight. She has brought out some of the intrinsic features of the Golden Ticket visa. These features may not be as desirable as other Australian investor visas available to potential investors interested in moving to Australia.

What’s the Golden Ticket visa?

The Significant Investor stream (Subclass 188 visa) has a provisional visa granted to foreign investors who make a minimum investment of AUD5 million. This investment has to be done in approved Australian investments/funds that meet some mandatory requirements and maintain active investment in Australia.

If you hold this visa, you can:

• Make an active investment in Australia
• Apply for a permanent Subclass 888 visa (Business Innovation and Investment (Permanent) visa) through the Significant Investor stream in case you meet certain requirements.

If you need this visa, it’s required that you

• are invited to file an application for this visa
• are nominated by an agency of the government of a state/territory government agency or Austrade to do a minimum investment of AUD5 million (subject to certain requirements and a genuine intention to maintain such investment as long as your provisional visa is valid)

The eligibility to apply for the Golden Ticket visa doesn’t include English language requirements. There are no upper age limits prescribed for the applicant. Applicants have to be at least 18 years and

• must have either functional-level English or
• will be required to pay a second instalment of the application charge.

Upon successful application, you can live in Australia for not more than 5 years. You can, in turn, file an application for Australia PR after meeting some prescribed requirements.

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What’s the latest discussion all about?

Australian minister Clare O'Neil has affirmed that a visa that could 'buy’ the right to immigrate to Australia has some innate possibilities. One such possibility of its use is someone aiming at making an investment in Australia just to acquire a right to live as a permanent resident. There could possibly be intending to just retire in Australia from active business. This may bring no substantial contribution matching Australian aspirations.

After the Golden Ticket visa’s origin in 2012, a few apprehensions about its fundamental nature sprung up in 2016. Now, Minister Clare O’Neil has emphasized the need to scrutinize the visa for reasons Australians will in all probability agree on.

Also read...

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What should you be doing as a potential foreign investor?

Australia has always welcomed investors from overseas to migrate to the country through investments. These immigrants are instrumental in generating more employment for Australians.

So, finding and using alternatives to the Golden Ticket visa is a sure thing to consider if you are willing to invest and settle in Australia. Here are some alternative investment streams (under Subclass 188) in Australia:

Visa streams under the Business Innovation and Investment Program

The Business Innovation Stream — To immigrate through this stream, you have to pass a points test. It's required that you must have a successful business career, which means a minimum business turnover of AUD750,000. Your net assets must be AUD1.25 million. You also have to obtain and maintain substantial ownership as well as management of an Australian business. You must reside in Australia for at least a year.

The Investor Stream — To use this stream to immigrate, you must pass a points test. You also have to make a commitment via an investment of AUD2.5 million into an approved investment fund managed by Australia. This investment must be made for the period of validity of the provisional visa. You also have to live in the country for a minimum period of 2 years.

The Entrepreneur Stream — This stream will need you to get the endorsement of a state/territory government. You must live in the country for a minimum period of 2 years.

*Know your eligibility to immigrate to Australia through Y-Axis Australia Immigration Points Calculator.

Visa streams under the Global Talent Independent Program

If you are a highly-skilled executive, entrepreneur, businessperson, or professional, you can use this Australia visa stream to migrate to Australia. The Australian government is looking for the most brilliant and talented individuals in the following industries to migrate to the country:

• Agricultural technology
• Resources, energy, and mining technology
• Financial services and technology
• Defense, space, and advanced manufacturing
• Circular economy
• Health industries and medical technology
• Education
• Infrastructure and tourism
• Quantum information, data science, advanced digital technology, and information and communications technology
• Cyber security

The bottom line

Nothing compares to the kind of investment opportunities leading to permanent residency that Australia offers. So, keep yourself updated and open to any of the aforementioned options for Australia immigration through investment.

If you are willing to migrate to Australia, talk to Y-Axis, the leading immigration and career consultant in the UAE.

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