Migration agents who have been successful with the SIV have a thorough understanding of the benefits of the SIV in comparison to other visa categories. This goes well beyond the no English requirement and no upper age limit.
Below are some practical examples include:
Benefits of the SIV
- Ability for the applicant to continue to run their business in their home country or continue with their directorship/employment contracts. Thanks to the attractive low residency requirement of 40 days per annum (or 160 days within the 4 years) the applicant doesn’t need to turn their back on their successful business in their home country or wait until their directorship commitments expire.
- Ability to gift the $5m to spouse or other family member so they become the primary applicant. This is another benefit of no points testing.
- Education of Children is still a large driver for the desire to attain a visa. From what starts as a wealthy family enquiring about a student visa for their child to attend university can often lead to an SIV once all the benefits are explained to the family.
- A family visa that includes both spouse and dependent children.
- SIV allows plenty of time to structure international tax affairs to the most efficient structure. Unlike some visas which have a high residency requirement.
- Flexible with the ability to extend the provisional visa period by 2 x 2 year extensions.
- The SIV is a pathway to Permanent Residency (PR) Australia and/ or citizenship.
- Australia recognises Dual Citizenship so in many cases there is no need to relinquish your existing Passport. If your country of origin does not allow dual citizenship applicants and their family can still enjoy all the advantages of an Australian PR without jeopardising their existing passports.