Migration Regulations 1994

An investment by a person (the investor) is a complying significant investment if all of the requirements of this regulation are met.

If an investment (the overall investment) is based on one or more other investments, this regulation (and any instrument under subregulation (6)) applies equally to the overall investment and each investment on which the overall investment is based.

All funds used to make the investment must be unencumbered and lawfully acquired.

The investment:

must be lawful; and

must not form the basis for security or collateral for a loan.

The investment, and the means by which the investment is made:

must be of a kind permitted by the requirements specified in an instrument under subregulation (6); and

must comply with any requirements specified in an instrument under subregulation (6).

The Minister may, by legislative instrument, specify requirements for the purposes of subregulation (5).

Subregulation (8) applies in relation to a period (the switching period):

beginning when the investor withdraws funds from the investment, or cancels the investment; and

ending when the investor reinvests the withdrawn funds, or the funds used to make the cancelled investment.

If the switching period is of no more than 30 days duration, the investment is taken not to have ceased to be a complying significant investment during the switching period only because of the event mentioned in paragraph (7)(a).

The investor must be an individual.

The investor must make the investment:

personally; or

with the investor’s spouse or de facto partner; or

by means of a company that has issued shares and in which:

the investor holds all of the issued shares; or

the investor and the investor’s spouse or de facto partner hold all of the issued shares; or

by means of a trust to which the following applies:

the trust is lawfully established;

the investor is the sole trustee or the investor and the investor’s spouse or de facto partner are the sole trustees;

the investor is the sole beneficiary or the investor and the investor’s spouse or de facto partner are the sole beneficiaries.