27 oct 2012
The Australian government's new significant investor
visa, which provides a pathway for migrant investors, is set to roll
out on November 24. The applicants under this category will need to make
investments of at least A$5 million (Rs 27.8 cr) in the country to qualify.
While candidates have to meet the criterion on business innovation, there is no upper age limit. This visa category is attracting a great deal of interest in India and could make Australia the next big destination for high net worth Indians who want to immigrate.
While the Australian department of immigration and citizenship (DIMIA) is not willing to speculate on whether this new category is likely to attract a large number of Indians, India has recently emerged as the top source country for permanent migrants to Australia.
In July 2012, according to figures released by the Australian minister of immigration and citizenship, Chris Bowen, India had for the first time become the largest source of immigrants. Indian migrants comprised a total of 29,018 or about 15.7% of the total migration programme of 185,000 in 2011-12.
Bring in Innovation
The significant investor category is targeted at those who are likely to bring in significant knowledge and innovation in their businesses, and Indian entrepreneurs running certain mid-sized businesses are likely to make the cut.
"The investment amount is not too high for successful entrepreneurs and Indians running businesses involving intellectual property and specialised knowledge are likely to be targeted. While those in the 45-50 age bracket with successful businesses, who are looking at expansion in a new geography, could be lured by this visa, younger entrepreneurs from family businesses in the 28-34 age bracket could also move to Australia under this scheme," says Cyrus Mistry, a consultant with EasyMigrate, a licensed consultancy in Perth.
Australia's new investor visa category could attract HNI entrepreneurs from India
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| Dr Sanjay Kumar Cardiac Cardiothoracic Heart Surgeon India |
The
applicants under this category will need to make investments of at
least A$5 million (Rs 27.8 cr) in the country to qualify.
While candidates have to meet the criterion on business innovation, there is no upper age limit. This visa category is attracting a great deal of interest in India and could make Australia the next big destination for high net worth Indians who want to immigrate.
While the Australian department of immigration and citizenship (DIMIA) is not willing to speculate on whether this new category is likely to attract a large number of Indians, India has recently emerged as the top source country for permanent migrants to Australia.
In July 2012, according to figures released by the Australian minister of immigration and citizenship, Chris Bowen, India had for the first time become the largest source of immigrants. Indian migrants comprised a total of 29,018 or about 15.7% of the total migration programme of 185,000 in 2011-12.
Bring in Innovation
The significant investor category is targeted at those who are likely to bring in significant knowledge and innovation in their businesses, and Indian entrepreneurs running certain mid-sized businesses are likely to make the cut.
"The investment amount is not too high for successful entrepreneurs and Indians running businesses involving intellectual property and specialised knowledge are likely to be targeted. While those in the 45-50 age bracket with successful businesses, who are looking at expansion in a new geography, could be lured by this visa, younger entrepreneurs from family businesses in the 28-34 age bracket could also move to Australia under this scheme," says Cyrus Mistry, a consultant with EasyMigrate, a licensed consultancy in Perth.
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