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Query re. AUD$100,000 investment

Query re. AUD$100,000 investment

Old May 18th 2002, 7:54 pm
  #1  
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Default Query re. AUD$100,000 investment

As with many people we only have 110 points, and are therefore desparately trying to find 5 points. Is it possible that we can sell our house now, raise the $100,000, and lodge this immediately with the Aus. government. Live in rented accomodation for 1 year, get our money back then move to Oz. This is the only way we can see of raising the money, but we need it back before we move.
As always your advise is invaluable, thanks Carol.
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Old May 19th 2002, 1:20 am
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Default Re: Query re. AUD$100,000 investment

I believe it's possible to do as you suggest (assuming you have enough equity in your
property), but:

- there is always a risk that even with 115 points your application could run into a
problem for some reason (eg health), you would then be in the position of not
having a visa and your home in the UK sold.

- no guarantees can be given on processing time, and hence the time you would spend
in rented accommodation in Britain

Why do you need the money back before you move? Often it's advisable to rent on
arrival in Australia rather than buy straight away.

Because of the amount of money involved, plus the issue of selling your family home
without having had a visa granted, I really do suggest you talk to a good migration
agent about this strategy before deciding whether to go ahead with it or not. It
might be less traumatic to investigate state sponsored schemes (especially Victoria
and SA) first.

Jeremy

    >On 18 May 2002 23:20:07 GMT, summers family <[email protected]> wrote: As
    >with many people we only have 110 points, and are therefore desparately trying to
    >find 5 points. Is it possible that we can sell our house now, raise the $100,000,
    >and lodge this immediately with the Aus. government. Live in rented accomodation for
    >1 year, get our money back then move to Oz. This is the only way we can see of
    >raising the money, but we need it back before we move. As always your advise is
    >invaluable, thanks Carol.
    >
    >
    >
    >--
    >Posted via http://britishexpats.com
 
Old May 19th 2002, 9:52 am
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Default Re: Query re. AUD$100,000 investment

Thanks Jeremy, the reason we need the money before we go is that the money will go towards our move, shipping and clearing debts in the uk. We know its a risk to take, but we would need to live in rented accomodation for a few months before we go anyway to release the money from our house and tie off loose ends here. We would like if possible to go to Perth or Brisbane and they are not on the state sponsored schemes.

Thanks Carol.
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Old May 19th 2002, 1:04 pm
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Default Re: Query re. AUD$100,000 investment

Hi Carol
I must be really honest if we were in your shoes we would be really struggling , because we would not be able to raise the $100 k , so if i was left with a choice of staying in england , or trying the impossible of trying to raise the money or going state sponsored i know which route i would go for . I would go state sponsored , we want to go to perth and not sa or melbourne but at least this way you can still get out there , ok its two years till you can move but you dont know you may even like it there and may wish to stop there, good thing with melbourne plenty of work.
Paul
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Old May 19th 2002, 2:20 pm
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Default Re: Query re. AUD$100,000 investment

Carol,

Just to confirm that if you decide to make the A$100k investment at the time of submitting your visa application the required 12 months can be completed by the time of your visa decision or shortly thereafter, enabling you to move to Australia with those funds.

Hope this helps.



Alan Collett
alan-at-gomatilda-dot-com
Registered Migration Agent Number 0102534
and a Fellow of the Institute of Chartered Accountants in England and Wales
http://www.gomatilda.com, and
http://www.collettandco.com
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Old May 19th 2002, 3:42 pm
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Default Re: Query re. AUD$100,000 investment

Carol
Thats really good then that you can put the $100 k up while the application is being done isnt it ?
Joanne
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