Application for Capital Investment Entrant Scheme becomes harder as policies change in Australia

The State governments of Australia have recently revised business migration policies on providing sponsorship to senior executives by increasing capital required for applicants and tightening the conditions of being a permanent resident.

A stricter capital requirement for business migration to Australia is specifically demonstrated as follows:

1. the annual operating revenue of the applicant’s company is increased from RMB1,650,000 to RMB2,750,000.
2. the net asset required for the applicant’s entire family is increased up to a range from AUS$350,000 to AUS$400,000 from AUS$250,000 (or up to a range from AUS$250,000 to AUS$300,000 for migrants applied under Established Business scheme, plus AUS$100,000 for living and settlement expenses). The right of execution is controlled by each of the state governments.

It was previously provided that the spouse of the applicant who obtained provisional business visas for a term of 4 years could become a permanent resident only if the former is resided in Australia for 1 full year during the 2-year stay in the country. The length of residence is extended to 16 months upon the new policy is implemented.

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