Easier to get an invitation from the state governments.
How is the procedure of getting an invitation from Austrade for the 188D visa application?
I run a successful multinational group in Asia with businesses in several countries. While weighing my options to relocate to Australia, the 188D category drew my attention due to its flexibility and less strict requirements on the applicant’s age, English proficiency and education background. Also, I am able to make an investment of $15 million Australian dollars as requested. However, I was told that it is extremely hard to get an invitation from Austrade. Is it true? What are the requirements and procedures of getting an invitation from Austrade?
The premium investor visa (PIV or 188D) is intended for applicants who can undertake exceptional investment activities in Australia. To date there have been no visas issued under this scheme and the process is exceptional. The nomination (e.g., approval of support) for the visa must be through Austrade and they will not accept unsolicited approaches from the public seeking this visa. In discussions with Austrade for this visa they have advised seeking advice from the federal treasury department on suitable applications. The potential applicant will need support from the government to initiate this process, which would generally involve the intended state/territory government and likely the relevant federal ministers. I have advised previous clients on the process and requirements for this pathway.
You should take the help of a migration agent who will take you through this process to help you in getting an invitation from Austrade. As you are having business in multiple countries, and all the funds are legally owned and you are ready to invest the legal funds into Australia, it is possible to get an invite from Austrade.
To date, there have been no premium investor visas granted since the start of the program. The procedure is different than the significant investor visa, which involves applying to a state or territory government or Austrade. It is not possible to apply to Austrade; they must issue the invitation to parties known to them. A significant investor visa may be a better option, where it is also possible to get a two-year extension twice for a total of eight years on the provisional visa. This gives the applicant time to settle their overseas affairs, continue operating their offshore businesses, and avoid paying tax on their overseas income by taking advantage of the temporary resident rules which exclude foreign sourced income and gains from Australian tax. Contact a registered migration agent who works closely with a financial adviser for more information.