I am often asked if there is “a quick way” or “an easier way” to get into Australia that avoids all that nasty paperwork and answering all those pesky questions.
In the past I have always said no, but, coming soon, there will be. The Australian Government always look at the migration criteria each year and usually announce changes on 1 July.
I know of one change on the table for next month that does introduce that quick way, but it’s not for everyone. In fact, it’s probably not for anyone I know, so please don’t get too excited.
First, let’s have a quick look around some other countries at how they deal with the type of visa I am talking about here. I am really not 100% sure all this information is up-to-date, so I have included links to my sources.
First, let’s take a look at my old country, the UK. How much would I need to invest to fast track myself a visa if I had no other way of getting residency?
Tier 1 – Investor Visa
‘This is available for large investors, who have £1million at their disposal, are willing to spend over 50% of their time in the UK and have a reasonable command of English.‘
Gosh, £1 million! On the Aussie dollars current value that’s just over…
‘In order to be considered for the Programme, the proposed investment must be in one of the following categories:
- A once-off endowment of at least €500,000 to a public project benefiting the arts, sports, health, culture or education
- A minimum €1,000,000 aggregate investment into new or existing Irish businesses for a minimum of 3 years
- A minimum €2,000,000 investment in a special low interest 5-year immigrant investor bond
- A minimum €1,000,000 mixed investment consisting of €500,000 in property and €500,000 in immigrant investor bonds’
Let’s take the middle ground on this one and go for the visa that costs €1 million. That’s not cheap either, is it? Works out at just over…
‘In order to qualify under the EB-5 category, foreign investors must:
- Invest $1 million in either a new or existing U.S. business or commercial enterprise that will create at least 10 full-time U.S. jobs, or
- Invest $500,000 in a new or existing U.S. business or commercial enterprise that is in either a rural area or an area with a high unemployment rate, or
- Invest in a U.S. government designated Regional Center, and
- Prove that the investment will somehow benefit the U.S. economy’
Seems if I want to live somewhere that’s not in the middle of nowhere, or Woop Woop as we Aussies call it, it’ll cost USA $1 million. Let’s not quibble about the exchange rate, that’s about…
A hugely desirable country in all the league tables and surveys I’ve come across, it’s often very close between Australia and Canada for desirability. How much do I need to spend to wangle my way from hot to cold?
‘Any individual who has –
A. Successfully operated and controlled a business outside Canada,
B. Made a minimum investment of 400,000 CD$ or 800,000 CD$ in a government approved program for a period of five years,
C. Accumulated the above mentioned net worth by his/her own business endeavors.’
Source: canadaimmigrationvisa which is no longer online.
So, is it C$400,000 or is it C$800,000? I don’t know, but I’m going to assume the worst; it’s always prudent. So C$800,000 is…
Have you noticed how things are getting cheaper?
Hmm. Let’s go to Europe.
As Europe struggles big time, I hear that the German economy is still quite strong. I imagine that comes from making things like cars, appliances, machinery and chemicals.
So how much to get into Germany…
‘Different from other countries there is no investor visa category in Germany in a sense that the investor would get monies from the state. However, when an investor is willing to invest 500.000 € and to employ more than 5 employees it might be easier to get a residence title for taking up gainful employment (= work permit). It has to be differentiated between the question of entry and residence (hereafter I.) and the question of whether a work permit will be granted (hereafter II).’
Okay, I think I’ve got that one. Half a million euros. That’s about…
Spain, on the other hand, are not doing so good. Just today, apparently, they have asked the EU for help recapitalising their banks. How much to get into Spain?
‘Our investor visa (or investment visa) service is for the individual who plans to have a business in Spain, and has 100,000€ available for investment purposes. Once completed, you will be the director of a company with 100,000€ in backing capital. You may immediately start drawing on this capital in the implementation of your business.’
Gosh, that sounds cheap and easy. Can it be true? That’s only…
Just thinking out of the box here, but if you can get into Spain first, surely you become part of the EU. Then just get a Ryanair flight to Birmingham for about £39 and you saved yourself over $1 million?
I must be missing something.
‘Normally migrants are ranked according to criteria like age, qualifications and English language skills, along with a requirement to reside in the country for a period of time before they qualify.’
‘In return for investing in state and territory bonds, managed funds, or directly into Australian companies, investors will be offered concessions on the usual visa requirements.’
Okay, how much? Come on, how much??
Let’s convert the two Aussie dollars…
Yep, still AU$5 million!
Maybe it’s me, but if you have that kind of money, would you be the kind of guy who…
- Likes to spend lots of time on the beach.
- Walks around in thongs (flip-flops to some of you) holding a boogie board under his arm.
- Would like to live in a country where the number of people you can make money from is just a fraction of the say, 1.3 billion people who live in China or the 300 million or more people that live in the United States.
As they say, most millionaires have swimming pools in their back garden; the majority have never got around to swimming in them.
I have always said Australia is a very difficult country to get into; this is more proof on that one.
I wonder if they’ll do a better deal for cash.