business-investment linked
May 8th 2002, 5:00 am
#1
Guest
Posts: n/a
business-investment linked
I have contacted with two different consultants about business visa-investment linked
and received conflicting information.
Our 4 families consist of 3 sons aged 30-36. One is married with 4 children, one
married without children and one single. Parents are 58 and 60 years old.
Each of the four families would like to go to Australia and each can satisfy the
investment category in terms of investment cash but not necessarily in terms of
business activities. The problem is that the majority of assets (now in cash) have
come legally from sale of family owned property and can now freely be moved. How is
this considered for visa purposes.
Other visa categories can be considered for some family members, but all would like
to all move to Australia rather than scatter around the world.
The next alternatives to Australia are USA and Canada which have simpler investment
related settlement rules.
and received conflicting information.
Our 4 families consist of 3 sons aged 30-36. One is married with 4 children, one
married without children and one single. Parents are 58 and 60 years old.
Each of the four families would like to go to Australia and each can satisfy the
investment category in terms of investment cash but not necessarily in terms of
business activities. The problem is that the majority of assets (now in cash) have
come legally from sale of family owned property and can now freely be moved. How is
this considered for visa purposes.
Other visa categories can be considered for some family members, but all would like
to all move to Australia rather than scatter around the world.
The next alternatives to Australia are USA and Canada which have simpler investment
related settlement rules.
May 8th 2002, 7:20 am
#2
Guest
Posts: n/a
Re: business-investment linked
rob <[email protected]> wrote in message
news:1020876774.20891.0.nnrp-10.c2de...ws.demon.co.uk...
> GX wrote:
>
> >I have contacted with two different consultants about business visa-investment
> >linked and received conflicting information.
>
> What did they say ?
One insisted that only money acquired through business or investment activities
qualifies and this does not include sale of property, in our case undeveloped land.
They also stated that it was not possible to link our applications in any way and
that each would have to apply separately and be treated as individual cases. The
other consultant basicalled disagreed on both those points and stated that possession
of property may be viewed as an investment.
>
> >Our 4 families consist of 3 sons aged 30-36. One is married with 4
children,
> >one married without children and one single. Parents are 58 and 60 years old.
>
> The parents could apply for a reitrement visa. That way they could hold on to their
> money rather than have to invest it in a state/territory
approved
> investment. That must be an easier route for them. That visa is temporary but
> renewable.
You are right, that would be easier, but the permanent visa is much more desirable.
It may be a problem obtaining a permanent visa while in possession of a temporary. I
am unsure how the parents' status could be changed if all three sons received
permanent visas.
>
> >Each of the four families would like to go to Australia and each can
satisfy
> >the investment category in terms of investment cash but not necessarily
in
> >terms of business activities.
>
> I'm going to apply in the investment category soon (as soon as my bank gets off
> their ass and sends me a bank confirmation form). My money came from sale of a
> business a few years back. I'm in no way a professional investor, but can easily
> live off my cash/investments without needing to work again. I'm just hoping that
> they'll see me as an easy source of tax with no risk of ever needing any handouts.
Similar hopes with us too regarding the tax! We really would not become any type of
financial burden to the society, and we do have two solid business plans. Also, as I
mentioned, 2 of the 3 brothers could probably qualify for a visa based on skills, and
the business plans are related to those skills, but it seems silly to discount the
investment category when at first glance it appears to fit the best.
I am interested in knowing the outcome of your request and appreciate your response.
>
> > The problem is that the majority of assets (now in cash) have come legally from
> > sale of family owned property and
can
> >now freely be moved. How is this considered for visa purposes.
>
> From my reading of the forms and documentation you need to show an active
> involvement in the investing of money. If one family member has gifted the money to
> the others then you might struggle to spin that into a plausible investing history.
Luckily, the property was divided years before we all sold and it would be more of a
struggle if we had to show that it was gifted. Esentially, all family members are in
the same position regarding the ownership and disposal of property.
news:1020876774.20891.0.nnrp-10.c2de...ws.demon.co.uk...
> GX wrote:
>
> >I have contacted with two different consultants about business visa-investment
> >linked and received conflicting information.
>
> What did they say ?
One insisted that only money acquired through business or investment activities
qualifies and this does not include sale of property, in our case undeveloped land.
They also stated that it was not possible to link our applications in any way and
that each would have to apply separately and be treated as individual cases. The
other consultant basicalled disagreed on both those points and stated that possession
of property may be viewed as an investment.
>
> >Our 4 families consist of 3 sons aged 30-36. One is married with 4
children,
> >one married without children and one single. Parents are 58 and 60 years old.
>
> The parents could apply for a reitrement visa. That way they could hold on to their
> money rather than have to invest it in a state/territory
approved
> investment. That must be an easier route for them. That visa is temporary but
> renewable.
You are right, that would be easier, but the permanent visa is much more desirable.
It may be a problem obtaining a permanent visa while in possession of a temporary. I
am unsure how the parents' status could be changed if all three sons received
permanent visas.
>
> >Each of the four families would like to go to Australia and each can
satisfy
> >the investment category in terms of investment cash but not necessarily
in
> >terms of business activities.
>
> I'm going to apply in the investment category soon (as soon as my bank gets off
> their ass and sends me a bank confirmation form). My money came from sale of a
> business a few years back. I'm in no way a professional investor, but can easily
> live off my cash/investments without needing to work again. I'm just hoping that
> they'll see me as an easy source of tax with no risk of ever needing any handouts.
Similar hopes with us too regarding the tax! We really would not become any type of
financial burden to the society, and we do have two solid business plans. Also, as I
mentioned, 2 of the 3 brothers could probably qualify for a visa based on skills, and
the business plans are related to those skills, but it seems silly to discount the
investment category when at first glance it appears to fit the best.
I am interested in knowing the outcome of your request and appreciate your response.
>
> > The problem is that the majority of assets (now in cash) have come legally from
> > sale of family owned property and
can
> >now freely be moved. How is this considered for visa purposes.
>
> From my reading of the forms and documentation you need to show an active
> involvement in the investing of money. If one family member has gifted the money to
> the others then you might struggle to spin that into a plausible investing history.
Luckily, the property was divided years before we all sold and it would be more of a
struggle if we had to show that it was gifted. Esentially, all family members are in
the same position regarding the ownership and disposal of property.
May 8th 2002, 8:20 am
#3
Guest
Posts: n/a
Re: business-investment linked
GX wrote:
>rob <[email protected]> wrote in message
>news:1020876774.20891.0.nnrp-10.c2de...ws.demon.co.uk...
>> GX wrote:
>>
>> >I have contacted with two different consultants about business visa-investment
>> >linked and received conflicting information.
>>
>> What did they say ?
>
>One insisted that only money acquired through business or investment activities
>qualifies and this does not include sale of property,
I haven't read anything that specifies that property/land investments do not
qualify and would assume that common sense interpretation of the rules means that
it does qualify.
> in our case undeveloped land. They also stated that it was not possible to link our
> applications in any way and that each would have to apply separately and be treated
> as individual cases.
I know nothing about that. My gut feeling is that it can only complicate things so
much that none of the application processing staff would want to touch the case with
a barge pole.
> The other consultant basicalled disagreed on both those points and stated that
> possession of property may be viewed as an investment.
I think it's down to you to pitch it as an investment. The larger the numbers
involved, the easier that becomes.
>> The parents could apply for a reitrement visa. That way they could hold on to
>> their money rather than have to invest it in a state/territory
>approved
>> investment. That must be an easier route for them. That visa is temporary but
>> renewable.
>
>You are right, that would be easier, but the permanent visa is much more desirable.
You may be right, but why ?
If I were 55+ I'd jump at the retirement visa because (a) it's a lot cheaper, (b) it
seems to be a lot quicker to get and (c) as long as you don't go broke it's renewable
every 4 years.
> It may be a problem obtaining a permanent visa while in possession of a temporary.
> I am unsure how the parents' status could be changed if all three sons received
> permanent visas.
I can't think of any reason why sons with PR visas would harrm the status of parents
on a temporary retirement. I bet that it'd be beneficial to the parents when it comes
to renewal.
>I am interested in knowing the outcome of your request and appreciate your response.
Don't hold your breath. Processing times for business skills visas are 12 months
according to http://www.australia.org.uk/vti/html...singtimes.html.
I hope to apply within the next 2 weeks.
>rob <[email protected]> wrote in message
>news:1020876774.20891.0.nnrp-10.c2de...ws.demon.co.uk...
>> GX wrote:
>>
>> >I have contacted with two different consultants about business visa-investment
>> >linked and received conflicting information.
>>
>> What did they say ?
>
>One insisted that only money acquired through business or investment activities
>qualifies and this does not include sale of property,
I haven't read anything that specifies that property/land investments do not
qualify and would assume that common sense interpretation of the rules means that
it does qualify.
> in our case undeveloped land. They also stated that it was not possible to link our
> applications in any way and that each would have to apply separately and be treated
> as individual cases.
I know nothing about that. My gut feeling is that it can only complicate things so
much that none of the application processing staff would want to touch the case with
a barge pole.
> The other consultant basicalled disagreed on both those points and stated that
> possession of property may be viewed as an investment.
I think it's down to you to pitch it as an investment. The larger the numbers
involved, the easier that becomes.
>> The parents could apply for a reitrement visa. That way they could hold on to
>> their money rather than have to invest it in a state/territory
>approved
>> investment. That must be an easier route for them. That visa is temporary but
>> renewable.
>
>You are right, that would be easier, but the permanent visa is much more desirable.
You may be right, but why ?
If I were 55+ I'd jump at the retirement visa because (a) it's a lot cheaper, (b) it
seems to be a lot quicker to get and (c) as long as you don't go broke it's renewable
every 4 years.
> It may be a problem obtaining a permanent visa while in possession of a temporary.
> I am unsure how the parents' status could be changed if all three sons received
> permanent visas.
I can't think of any reason why sons with PR visas would harrm the status of parents
on a temporary retirement. I bet that it'd be beneficial to the parents when it comes
to renewal.
>I am interested in knowing the outcome of your request and appreciate your response.
Don't hold your breath. Processing times for business skills visas are 12 months
according to http://www.australia.org.uk/vti/html...singtimes.html.
I hope to apply within the next 2 weeks.
