+1-800-997-1228
Questions & Answers

What kind of documentation is needed for a statement of assets and liabilities required for the Australia Significant Investor Visa?

My wife and I have many assets including worldwide real estate that has not been appraised in years. Every country’s documentation is different, so we want to know what kind of documents we need to provide for each property/asset we own. I am the main applicant and we are also wondering if my wife should include her assets.

Answers

  • Avatar

    Ali Shahami

    Australia Registered Migration Agent
    Answered on

    This depends on the kind of assets you have provided to DIBP, without knowing which assets and liabilities you have claimed on your application, it would be hard for me to explain. Each country has its own certified appraisal experts to evaluate your deeds and assets. Depending on each country, you may find their name on each government''s website. Your wife''s assets would be counted as your assets and you may need to include her assets as well if you claimed her assets on your application.

  • Avatar

    Mark Welch

    Australia Registered Migration Agent
    Answered on

    All claimed assets and liabilities need to be proven in the appropriate format, and by an appropriate professional in the case of real estate assets. This usually involves a valuation from a surveyor or an approved valuer and corresponding loan value. Depending on the financial requirements you are trying to meet, and the level of assets and the points you are claiming (if appropriate for your visa class), you may be required to evidence your wife''s assets.

  • Avatar

    Luke Headland

    Australia Registered Migration Agent
    Answered on

    It is a very good question that you raise and there is no simple answer to this question. At this stage, we do not know where you are domiciled and which Australian state or territory you would like to be sponsored by. There are many variables and pieces to the SIV puzzle. We recommend that you engage the services of a MARA registered Australian Migration Agent or Lawyer who can advise you on Australia’s requirements in more detail. As part of the process, you will be required to complete a Statement of Assets and Liabilities Position Form (SALP), which shows the evidence of ownership and the value of assets of at least AUD$5 million, which can fund complying investments. If your wife's assets are required to fund the investments, then they should be disclosed along with any liabilities held against each asset (if there are any liabilities). Evidence will be required to show that the source of funds being used to make the complying investment is unencumbered and lawfully acquired. For example, for cash assets, you will need to provide bank statements on the date nominated on your SALP. For property, a copy of the title deed, evidence of any mortgage along with a valuation certificate from an accredited property value. For stocks and bonds, you will need to provide copies of share or bond registers or certificates. For business assets, items such as annual returns, evidence of purchase, financial statements and share registers will be requested on a case-by-case basis. You will not be required to make the complying investments at the time you apply but you will be required to sign a declaration of your proposed method of transferring these funds. Your entire situation should be assessed by a professional who specializes in the SIV to help ascertain your SIV investment goals and objectives. This will help to determine which asset classes and allocations that are used in the balancing portion of your SIV Investment. Tax planning and structuring options should also be considered.

  • Avatar

    Quentin Kuo

    Australia Registered Migration Agent
    Answered on

    Fundamentally, official or credible third-party documents describe your assets and liabilities. This differs from country to country. For your wife, it is the same; plus, your marriage certificate should do the trick.

  • Avatar

    Angela Julian-Armitage LLB GAICD FMIA

    Australia Registered Migration Agent
    Answered on

    What I can say is that the more assets both you and your wife show, the better!

Add your comment

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.