Australia does not have an official citizenship by investment program that grants direct citizenship. However, there are some investment visa pathways that can lead to permanent residency and eventual citizenship. The business innovation and investment visa requires an investment of at least AUD800,000 into an Australian state or territory and business activity. Investors can apply for permanent residency after holding this visa for 4 years. Another option is the investor visa, which requires an investment of at least AUD1.5 million into Australian assets. This visa offers a faster route to permanent residency. While expensive, these visas provide high-net-worth individuals an opportunity to eventually become Australian citizens.
No existing direct citizenship by investment in Australia
Unlike some Caribbean countries, Australia does not currently have an official citizenship by investment program. There is no pathway to directly invest money and get instant citizenship. The Australian government has resisted calls to implement such a program despite recognizing the economic benefits it could bring. Critics have argued it could undermine the integrity of Australian citizenship. Therefore, options for foreign investors remain limited to using investment to qualify for permanent residency and meeting other citizenship requirements later on.
Business innovation and investment visa an option
One potential option for investors is the Business Innovation and Investment (Provisional) visa (subclass 188). This visa requires an investment of at least AUD800,000 into an Australian territory and to start or purchase and manage a business. After holding the visa for at least 4 years, meeting business activity requirements and living in Australia, applicants can qualify for permanent residency. Permanent residents typically can apply for citizenship after 1 year if they meet other requirements like language proficiency. So while not immediate, this pathway allows qualifying investors to eventually become citizens after 5-6 years.
Investor visa faster but more expensive
Another choice for investors is the Investor (Provisional) visa (subclass 162). This visa involves investing at least AUD1.5 million into approved Australian assets that gets locked in for 4 years. It has stricter eligibility criteria related to assets, investment experience and English skills. After holding the visa for just 2 years, applicants can qualify for permanent residency much faster. And then it is another 1 year wait for citizenship application. So in just 3 years or slightly more, investors meeting requirements can convert their investment into Australian citizenship.
In summary, while Australia currently does not have direct citizenship by investment, there are a couple investment visa pathways like the business innovation/investment visa or investor visa that can provide a route to permanent residency and citizenship over a few years for qualifying applicants able to invest substantial capital.