johnkay

Spent nearly a year considering the idea of actually moving the family to Adelaide. Worried about all the obvious (family, jobs etc)and decided we wouldn't, but life is too short and we are not getting any younger - and England is becoming a scary place to bring up two young boys. Now decided to go for it, but on checking the info on the web, discovered we are 5 points short.
We're going to apply on Independant skilled, have no family that we know of in Oz, and do not think we have 115 points.
The only option appears to be the Australian investment of $100,000, which would proivde the 5 points we are short.
Can anyone help with advise on this? Has anyone personally used this system to gain entry? We would only have the money on the sale of our property, are they prepared to except the money on arrival? I am right in thinking you are only required to invest for one year and then you get all your money back?

Any help/info will be gratefully recieved, having now decided to apply, it's really annoying to discover it may not actually happen.

Thanks very much - look forward to hearing some positive info.

nosuchluck

Hi Johnkay
we will have to put up the bond money too, if we ever get to that stage!
i think that once you have your medicals and police checks done then the last thing the DIMIA ask for is the bond money, you do not have to put your money with the state you are hoping to settle in by the way! as far as i know you have 49 days from the time the DIMIA ask for it to lodge the money, although 21 days of the 49 are to allow for posting etc. so therefore you only get 27 odd days to actually raise the money! therefore, once the medicals etc are lodged we will put the bungalow on the market and hope it sells quickly as we will use the equity from our property! then go to stay with family for a while (perish the thought!).
yes you do get the money back in full, with interest too, (correct me if i'm wrong someone!)
if you type in 'bond' in the search box it will show other threads where this has been covered, hope this helps,
rach, mark and chanelle

chippy

Yes, I have actually done this, and can confirm that everything that nosuchluck says is correct. Go to the top of the class nosuch.

nosuchluck

Thanks Chippy,
i feel quite important now!
just wish our tra assessment would bloody hurry up!!!!!!!!!!
feel by the time it gets here i'll know everything there is to know about emigration!
best regards
rach :lecture:

EricB

Our application has gone in with the same requirement. Before sending in the 136 application we arranged a "Flexible advance" with the Nationwide building society. I would imagine all the banks and societies have a similar scheme. Basically it is an arranged advance (on the normal mortgage repayment period, -just like an additional mortgage) that you don't pay for till you actually draw on it. This means when (or if) the bond is requested -no delays. To arrange an advance takes around three weeks.

The points calculation is a bit wierd, glad we got an agent.

Have you got the skills assessment? your question reads as if not.

EricB

nosuchluck

Hi EricB
your advice was very welcome, just one query! does the Nationwide know that you are hoping to emigrate and use the 'additional mortgage' for the bond money?
with regards
rach

dotty

Bond to get into Canada is $400,000 and they keep it with no interest for 5 years! Makes the OZ one look like a bargain

chippy

Interesting. Is this bond for additional points, or just an outright payment to get in (effectively)?
Also, if I may enquire, are you planning to go there ?

EricB

Rach,

Yes, they know. As it is basically secured against the property as any mortgage is, - they will be the first to get their cash back on house sale. Understandable then that they don't really care about intended use.

all the best

EricB

dotty

Already lived there, loved it, economy would not be good in our line of Businesss. Too much scope being brough in from the USA.

Paying the Bond puts you into the Investor class and you then need far less points to get in.

Just looked it all up because I personally think OZ should try harder to attract Business People, often wonder why they dont introduce a really strong Business immigrant program where people have to create OZ jobs. (Just an interesting angle for me given my situation here).

Alan Collett

This weblink might help ...
http://www.gomatilda.com/news/article.cfm?articleid=155

Best regards.

Alan Collett

It's a good point dotty ... the Department of Immigration toughened up on the business skills visa requirements from the 1st of March this year and now they're wondering why they have so few people applying.

For example, those aged between 45 and 55 now have to seek State or Territory Sponsorship for business skills visas, and with respect to those involved (and the notable exception of the SBDC in WA and those in QLD) I have yet to be persuaded that those making decisions as to Sponsorship know what they are doing.

The NSW Government hasn't even published any guidelines yet as to how one can apply for State Sponsorship in that State. Complete madness ...

Best regards.

tinaj

It does seem crazy that they have made it harder for business people to get in. After all they usually bring a reasonable amount of money in with them which must benefit the economy.

It is interesting to hear that less people are now applying.

Alan Collett

Here's an example of a policy I can't fathom out Tina.

If you are aged (say) 52 years old, have been an investor for several years with (say) a £1m portfolio, and want to move to VIC, the State Government won't sponsor you for a State Sponsored Investor visa unless you also agree to set up a business in the State. This is an additional imposition by the State of Victoria that is not required by the legislation relating to the grant of the visa.

Consequence: I doubt that VIC attracts many applicants for sponsorship under this visa subclass.

My view is that a person who brings this sort of wealth to Australia is probably going to spend a fair amount on goods and services that are produced by Australians, and he will pay a fair whack in tax, both Federal and State (particularly Stamp Duty in VIC). In addition the tax rules would probably compel him/her to bring all of his/her investment monies to Australia.

I shall be lobbying for change!

Best regards.

lynn kennedy

we also needed the 5 bonus points to get in, borrowed it against property. you cannot get your visa till you have lodged the funds and oz house/adelaide have proof. we lodged feb 2002, arrived in july 2002 got 1st half years interest aug o2 and bond plus 2nd half years int feb this year no problem at all, and it was the only way we could have got in so thankfully this bonus point bit is there!!

Good luck

Lynn