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Australia Announces Premium Investor Visa to Advantage Foreign Investors

November 2014, 25
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Worlds Most Expensive Visa Australian Investor Visa
Australia has announced a new program termed as the Premium Investor Visa (PIV), which offers permanent residency for investors who are interested to invest at least A$15 million or Dh48m in the country.

Sources said that the new pathway is the most expensive visa across the world and is set to begin in June next year. The new program is considered as the quickest route for permanent residency, where the investors will be able to apply for residency status after a year. It is a boon to people who are required to travel across the globe for either business purpose or to enhance their business relations. 

Apparently, the new visa program features current Significant Investor’s Visa, which offers permanent residency in four years for overseas investors who invests at least A$5m. It is expected that the new visa category helps Australia to lure wealthy investors to produce investment in local industrial sectors that are in need of financial injection. 

Reportedly, the requirements of the new visa program are not yet revealed. However, the eligibility criteria are not expected to be more stringent than the requirements of prevailing investors’ program. 

Additionally, the new program does not necessitate applicant to reside in Australia for 160 days within the four-year investment term. Although it is the most expensive visa, the program does not come up with additional business requirements like other programs.        

Sources said that Australia tops the list of best destinations for investors for its uninterrupted economic growth, competitive interest rates, high business competitiveness rankings and high investment security.

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