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What are some common reasons that my Australian 162 visa application may be refused?

My wife and I intend to apply for a 162 investor visa. As we prepare, we would like to know what common reasons for refusals are so we can avoid mistakes.


Answers
  • Quentin Kuo Law + Immigration
    November 28, 2019

    There are plenty of mistakes you can make in the process and some lawyers/agents make them too. First off, you have identified an outdated visa subclass and have been replaced with 188/888 or 132 visas quite some while ago. Generally, lawyers/agents specialize in a few sub-classes and very few can have the resources or talent that can cover all sub-classes efficiently. So, from a pragmatic point of view, the broad common mistakes are not having enough talent and resources to understand and complete various stages of the visa application. For Investor visas, there are various elements: the overall points test; English proficiency; health; character; authentic portfolio and asset; a resume; enough cash to transfer to Australia; business and investment skills. There are many details that subside under each category of concern.

  • Australian Visa Options
    November 14, 2019

    The 162 visa category is closed to new applicants. Family members of people who already hold this visa can apply. You might want to look at the 188B Investor visa instead. To be eligible for this visa, you need to show 10% ownership in a qualifying business you have managed, or have managed an investment of at least 1.5 million Australian dollars. You need to have assets of AU$2.25 million that are able to be transferred to Australia within two years, and make an investment of AU$1.5 million into State or Territory bonds for a period of four years. This investment is included in the assets. You must also score at least 65 points on the Business points test and be aged under 55. Contact a qualified Registered Migration Agent for more information about all of the investment visa options that are currently available.

  • Julian-Armitage Migration Lawyers (JAM)
    November 14, 2019

    There are a number of reasons, depending on individual cases.

  • ANZ Migration
    November 13, 2019

    The 162 Investor (provisional) visa has been replaced from 2012 with the Subclass 188 Investor stream visa. The key requirements for the 188 Investor are at least 2.25 million Australian dollars equivalent in total net assets, at least AU$1.5 million available that has been accumulated through active business ownership or investment management, age under 55 (possible for exceptions) and state nomination. This is a four-year temporary visa that requires the investment to be held for four years in a government bond, with at least 24 months accumulated residence in Australia during the four years. Additional state nomination requirements will apply so it's important to understand these. For example, Victoria requires additional investment or business activity in addition to the AU$1.5 million bonds. Do note that with the current low-interest rates in Australia, the returns on the bond are very low, likely to be 1% or less.

  • Regis Legal
    November 13, 2019

    162 investor visa is closed to new applications. It was replaced by the subclass 188 investor visa in the Business Innovation & Investor program since 1 July 2012.