I'm a high-net-worth investor from Washington D.C. who is interested in a second home in Australia in the shortest possible time. What options would you advise?
Apply for the Business Innovation and Investment Visa - Premium Investor Stream (AUD$15 million). Alternatively, you could go for the Significant Investor (AUD$5 million), Investor (AUD$1.5 million), Business Innovation (AUD$800,000 + running a business with AUD$300,000 per annum turnover).
Premium Investor visa is the shortest possible path to permanent residency for investors. However, one has to apply for Premium Investor visas at the earliest since this will be discontinued after July 1, 2021.
Australia's subclass 188 Business programs are one of the best options for you to apply as a HNW investor, if you have at least 5 million Australian dollars available, which would be held as investments for 4 years. You might also be eligible for the Significant investor visa stream subclass 188. Unfortunately, the other investor visa under the Investor stream would not be suitable if you are a U.S. citizen since this involves investment in state bonds, which are not open to Americans.
A 132A Business Talent visa in the Significant Business History stream has been the fastest pathway to permanent residency using the Business and Investment migration program. This visa has a processing time of 12 to 18 months and is a permanent visa. Other visas in the program are provisional and require a second application for permanent residency through the 888 visa after two to four years, depending on the 188 visa stream. However, this is changing from July 1, 2021, when the 132 visa will be discontinued, and the waiting period before applying for permanent residency through the 888 visa will be extended to three years for all streams, which will be reduced to the 188A, 188B, 188C and 188E only. If you want to avail yourself of the 132A visa category, you need to take action now.
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