23 Aug, 2019
VIHAAN SALARIA
Australia Immigration
When it comes to migrating to Australia, there are rigid age restrictions that are applicable for most visa subclasses. So, let’s take a look at the Australia Immigration options for those over 50. Subject to you meeting all the visa criteria, the following are the Australia Visa options for those over the age of 50:
- Business Innovation and Investment (Provisional) visa (Subclass 188)
- Business Talent (Permanent) visa (Subclass 132)
- Parent visa
Let’s take a look at these options one by one.
Business Innovation Stream (Provisional) Visa (Subclass 188)
This visa is for those with business skills, and enables the applicants to run a business (current or existing) in Australia. With the visa, you will also be able to operate bring eligible family members with you.
You have to get a score of 65 at least on the points test, and furnish proof of your business’ success and stability. The net business and personal assets owned should be not less than AUD800, 000.
The following are the streams:
Investor Stream
With this provisional visa, you need to invest an amount of at the minimum AUD1.5 million. You also need to have net business, personal assets and business to the tune of at least AUD2.25 million.
The investment has to be made in a State/Territory of Australia, and carry on the business/investment within Australia.
Further, you need to score at least 65 on the points test. You can also bring eligible family members along.
Significant Investor Stream
The provisional visa type is for those who can invest at the minimum to the tune of AUD5 million in Australia, meet specific requirements, and maintain the investment venture in Australia. In this visa type, you have to be nominated by a State or Territory government agency, or by the CEO Austrade (The Australian Trade and Investment Commission) to invest and prove your intention to hold your investment for a 4-year period (at least).
Business Innovation Stream
Under the Business Innovation Stream, you will be able to operate a new/existing business in Australia, and bring along eligible members of the family. As far as eligibility is concerned, you must score at least 65 points, furnish proof of your business’ stability and success, and have total assets (business and personal) of at least AUD800,000.<?p>
Business Talent (Permanent) visa (Subclass 132)
Under Subclass 132, you can establish/develop a new or current business that is in Australia. There are two streams available:
Significant Business History Stream
This stream is for seasoned business owners who express the intent to run a new/already running venture in Australia. You must possess a net value of at least AUD1.5 million, and an annual turnover from your business of at least to the tune of AUD3 million. The said turnover should be held for at least 2-4 years directly before the time of application.
Venture Capital Entrepreneur Stream
The VC Entrepreneur Stream can be availed by those who have obtained VC funds from an AIC (Australian Investment Council) member. With this Visa, you will be able to run an entirely new/already existing business in Australia.
You need to have funds of at least AUD1 mn from an Australian VC firm.
Parent Visas
Several options are available to parents of Australian citizens and PRs and also to eligible citizens of New Zealand. The benefits of this visa is that it allows you to move/stay in Australia as a permanent resident. You can even sponsor eligible family members to visit Australia.
Sponsored Parent (Temporary) Visa
Applications for this visa commenced on 1st July 2019. You will require a Parent Sponsor who is approved, who fulfils certain requirements, and you can apply easily.
Aged Parent visa (Subclass 804):
With the aged parent visa, you can stay in Australia as a Permanent Resident, given that you meet the age requirements to be receiving old age pension in Australia.
Contributory Aged Parent visas (Subclass 864 & Subclass 884)
This works in the same manner as subclass 804 in terms of meeting the age requirements to receive age pension.
Contributory Parent visas (Subclass 143 & Subclass 173)
You have to apply as a retired person.
At XL Migration, we provide in-depth consultations for all types of visas for migrating to Australia. In case you want to check your eligibility and the pathways available to you, please feel free to contact us! Our expert immigration consultants are ready to guide you.
