Subclass 165 Investor visa – Tips on how to show at least AU$1,125,000 in minimum assets for at least 2 years prior to applying


Sub class 165 Investor visa – Tips on how to show at least AU$1,125,000 in minimum assets for at least 2 years prior to lodging a visa application

In my experience with handling sub class 165 visa applications for my clients, one of the most complext if not the most complex requirement to verify in paper work is the requirements ” to show at least AU$1,125,000
in minimum net assets for at least 2 years prior to the application being lodged”.

It sounds easy enough when you read it but before you start organising
the paperwork (the easy part) you need to consider and make a plan.
Going through the trouble of organising paperwork such as valuations
only to find that your dates are off can be frustrating and cause delay to
your application when your case officer requestes more updated evidence to verify how you meet this particular sub class 165 visa requirement.

Here are some tips I’d like to share to make the process easier.

1.Complete a current statement of your assets and liabilties

2.Make a time line of 4 important dates

i) The first date is a date in the near future, perhaps a date by which you will be ready to lodge your application with DIAC  i.e 1 July 2009

ii) Using the first date, go back in to the same date a year ago, 2 years ago and then 3 years ago i.e 1 July 2009, 1 July 2008, 1 July 2007

iii) For each of these 3 dates, you should now prepare 3 seperate corresponding statements of assets and liabilites (This will give you an idea of of your mimimum asset level at each point and over a period of 2 years)

3) Once you know that you have the minimum asset level of AU$1,125,000 over this 2 year period, it’s time to actually prove it with written evidence.

4) Consult your statement of assets and liabilities and mark off assets which signicantly contribute towards the minimum asset level and consider how you prove this asset.  (i.e property valuation, bank statements)

5) Once you have settled on the assets and means of proof, considering your 3 dates once again is key.  The evidence that relates to past dates i.e 1 July 2008 and 1 July 2007 are retrospective so you are going to have to acquire evidence that contain these dates.  For bank statements you will need to go through your records or consult your Bank to acquire historical statements showing a balance as at the particular date.  For a property valuation it is a bit more trickier.  You will need to meet with a property valuer and explain your requirements, that you need their written report of what your property was valued at in the past 2 dates.

6) An important point, your DIAC case officer will need your most recent date, 1 July 2009 to fall within a 3 month period of when you lodged your visa application for it to be considered valid.  This means your evidence dated 1 July 2009 will remain valid until 1 November 2009.  If you should lodge your application after this time you will need to provide additional and more recent evidence of your assets.  This means that in total you will have 4 dates which you have verified your asset worth.

7) When you have completed this process, you should have a complete and thorough paper trail of how you have held the minimum asset level for at least 2 years prior to applying for the visa.

My final advice, if this little forensic accounting exercise reveals that you may have an issue with meeting or showing the minimum asset level don’t proceed with lodging a visa application until you get a professional second opinion from a registered migation agent on the matter.  Remember there is no refund on your government lodgement fee if your applciation is refused.Please don’t expect this advice to be free either, a good registered agent will need to go over your documents to given you a properly considered advice and would need to charge for their time to do.

My next post on this topic will be “Hints on How to Complete the  3 or sometimes 4 Dreaded Form 1139 for a sub class 165 visa application ”

Kind regards,

Mege Dalton