Late last year, the Australian Government mooted some changes to the residency requirements for the Significant Investment Visa (SIV).
These changes have now been finalised, and the following residency requirements will apply to SIV applicants from 1 July 2015. To comply with the permanent residence requirement for the related subclass 888 visa, SIV holders will have to meet the following residency requirements:
- Either the primary applicant has to reside in Australia for 40 days per year over the 4 year term of the visa, orthe secondary applicant (must be the spouse) has to reside in Australia for 180 days per year.
- There will be no residency requirement for the other secondary applicants.
- The residency requirement will be calculated on a cumulative basis over the four year period of the provisional visa, i.e. for the primary applicant it will be 160 days over four years, or for the secondary applicant (the spouse), it will be 720 days over four years.
- If the secondary applicant, the spouse, was to comply with the residential requirement of at least 720 days over 4 years, the primary applicant does not have to meet the residential requirement.
Call Migration Lawyer Peter Kuek-Kong Lee for more information on (07) 3009 8444.