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HS Brisbane Property
0419 782 133
+61 (0) 7 3254 0888
sales@hsbrisbaneproperty.com.au
PO Box 15301
Brisbane City East
Queensland 4002
Australia

Lifting the lid on 'Golden Ticket' Visas

First it was the 'Golden Ticket' visa and now the Chinese government is proposing a series of restraints for its residents when buying property - stricter enforcement of capital gains tax on profits from residential home sales, as well as introducing higher deposits when buying a second home.

Together these factors are set to make the move to Australian even more attractive for many Chinese nationals ... and it's the capital city markets that are set to profit from this.

However it's not just the Chinese nationals who are forecast to take advantage of the 'Golden Ticket' visa (officially known as the 'Significant Investor Visa'), as we found out recently.

Maree Elliott, Managing Director of one of Brisbane's leading migration agencies, Holt Durham Migration Services, gave us some very interesting insights into this new visa class and its impact in a Q&A session with her last week.

Q: What is the 'Golden Ticket' visa, and who is eligible for it?

"The "Significant Investor Visa" commenced on 24 November 2012 and is for people who wish to acquire Australian permanent residence by investing AUD$5million over 4 years in a complying investment in Australia .

Q: How do people apply for it, and how long does the processing of it take?

An investor can not apply for a visa directly. Initially they have to submit an Expression of Interest (EOI) and then, if they are selected by a States or Territory Government, they can proceed to apply for a visa. The length of time for processing a visa application can vary on the country of residence of the visa applicant. However, the selection process by State and Territory Governments can be very short e.g. in Queensland the website where the EOI's are submitted is checked daily by the State Government.

Q: Who do you think this visa will appeal to most, and from where?

So far within my firm the most interest has been from Singapore and the People's Republic of China.

Q: As one of the most experienced migration agents in Brisbane, what do you see as the benefits of people coming to Brisbane and SE Qld on this visa?

People who apply for this visa are investing AUD$5M so, as the name suggests, this is a 'Significant Investment' which can only assist our economy.

Q: Have you had enquiry about the Golden Ticket visa from overseas people yet? If so, who are the key interest groups?

We have had a number of enquiries from Singapore and the People's Republic of China from very wealthy older business people. We have also received many enquiries from companies in Australia who offer complying investment opportunities for potential visa applicants.

Q: How popular do you anticipate this type of visa to be over the next year or so?

There seemed to be a lot interest when the visa was first announced but to date there does not seem to be too many people taking it up so it is hard to say.

Q: Would you like to add any other information for our readers?

In the past the age and English requirements as well as the residency requirements have made coming to Australia difficult and unattractive for many potential business visa applicants. The fact that there are no English requirements and no age limit for the Significant Investor visa, and the fact that the residency requirements are also minimal would, in my opinion, make this visa very appealing."

For further information regarding these visas and migration visas in general please contact Maree Elliott on (07) 3839 6500 or email her at maree@hdmmigration.com.au.

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