With a wide range of investment opportunities being available under the program and applicants needing to maintain their investment/s for the entire 4 year period of their initial visa grant, it is anticipated that sponsoring states and territories will also set mandatory minimum investment levels in designated Commonwealth and state/territory bonds. Individual states' sponsorship criteria are yet to be released.
This Migration Newsflash outlines key elements of the visa, which became effective 24 November 2012.
- Complying investments will include Commonwealth, State or Territory government bonds; Australian Securities & Investment Commission (ASIC) regulated managed funds with a mandate for investing in Australia; or Direct investment, with an ownership interest, into non-listed Australian proprietary companies.
- Minimum residential period of just 160 days over the 4 year period to qualify for permanent residence.