steve99

In the early stages of looking into this visa for my wifes parents and havent been able to find out all the info I need for them from the various websites.

What does Designated Investment mean ? purchasing property to live in?

State sponsored how easy is this to get? (pretty easy id imagine giving your investing $750K )

What is the approximate Visa processing time?

Thanks,
Steve

Wendy&Mike

The designated investment has to be placed with a state government body for 3 years at an interest rate thats about 1% lower than available in the banks. At least that's what it was 4 years ago.

Mike.

steve99

Thanks Mike,
Blimey I pressumed it was a case of you have to have $750K to bring over and by investment they meant purchase a property etc.
If you have to basically kiss that amount goodbye on entering you'd need at least the same to buy a half decent property and be able to live.
Any idea on timeline from submission to the visa being granted, its not one of those stupid visa where they give out 10 a year and there's a queue of 15000 already is it

Alan Collett

The details here might help:
http://www.gomatilda.com/news/article.cfm?articleid=345
http://www.gomatilda.com/news/article.cfm?articleid=343

We are seeing processing times once the visa application has been submitted to the Business Skills Processing Centre of about 4 to 6 months for the grant of these visas presently.

Best regards.

steve99

Thanks Alan, Those articles we're definitely worth reading.
Interesting that the $8K charge is to cover aged care costs yet the visa is a temporary residence visa, I dont know anything about Aged Care in Aus but I would of thought as a Temp Resident you would have to fund this sort of care directly yourself (if you were even allowed to enter it given the residency status)