Can Money Alone Get You to Australia? — After Investment Migration Ended

Twenty years ago, Australian investment migration was relatively simple. Run a business, invest a set amount — and there was even a path where investing five million Australian dollars led to permanent residency.

So in Korea you still hear this:

“If you’ve got the money, Australia gives you PR, right?”

Not anymore. As of 2026, Australia no longer hands out “PR for putting in investment funds.” And this change matters more than it seems — because the role of money itself has changed.

The bottom line

• The 188 investment visa closed to new applications (31 July 2024)
• The SIV ($5M investment visa) has ended
• You can’t get PR through money alone
• The NIV (858) is a talent/innovation visa, not an investment visa
• Money is now a question of asset design, not the visa

An era has ended

In July 2024, the Australian government closed the Business Innovation and Investment Program (BIIP). That includes 188 Business · Investor · Significant Investor (SIV) · Entrepreneur — all of them. The structure once famous in Korea — “invest $5 million for PR” — is gone.

Why scrap it?

The government’s view was clear — “people coming in matters more than money coming in.” Official reviews found the economic contribution was lower than hoped; there was real-estate capital inflow, but limited contribution to innovation and productivity. So Australia shifted from investment capital → skills and talent.

So can’t the wealthy go?

This is where many are surprised.

• The old question: “How much do I invest?”
• The current question: “What am I eligible for?”

The NIV isn’t an investment visa — the eligibility, in detail

The visa in the spotlight now is the National Innovation Visa (NIV, 858). It’s permanent residency, but it looks at world-class achievement, not money. The core requirements:

• Invitation-only: you can’t apply directly — you submit an Expression of Interest (EOI), the Department assesses it, and only those invited can apply. (Jan–Mar 2026: of 1,815 EOIs, only 146 invitations — highly competitive.)
• An internationally recognised record of exceptional, outstanding achievement: proven by independent evidence (international awards, recognised work), not self-description — it must stand out beyond “ordinary professional success.”
• A four-tier priority system / sectors:
  • Priority 1: a global expert in any field (international top-of-field award winners)
  • Priority 2: nominated on Form 1000 by an expert Australian government agency
  • Priority 3: outstanding achievement in a Tier One sector (critical technologies, health industries, renewables) — AI, quantum, biotech, cyber, advanced manufacturing, clean energy, robotics, etc.
  • Priority 4: a Tier Two sector
• A nominator is required: an endorsement from an Australian individual or organisation with a national reputation in your field (a professional endorsement with no financial or legal obligation — not a sponsorship)
• Income capability: you generally must be able to earn at or above the Fair Work High Income Threshold (FWHIT, ~A$183,100 for 2025–26, changes yearly) — though the government states high earnings alone don’t guarantee selection
• No points test, no age limit: but if under 18 or over 55, you must show exceptional benefit to the Australian community

→ In short, the NIV is for the level of international award winners and global leaders in a field. Wealth alone does not make you eligible. For an ordinary high-net-worth individual, the bar is very high.

Yet the community still passes around the old story

YouTube, seminars, property roadshows, even some agencies still use the phrase “Australian investment migration.” But most of it describes the old program. As of 2026, the “put in money, get PR” scheme is, effectively, over.

So where did money’s role go?

This is the part hanhomoney should talk about. Money hasn’t disappeared — its role has changed.

• Before: money → PR
• Now: eligibility → PR, and money → settling design

Money now matters far more in fund transfer · FX · tax · asset structure · retirement design.

What the wealthy actually grapple with

1. When to sell the Korean property — residency timing, CGT, Australian CGT
2. How much to remit first — FX, evidence, source of funds
3. When you become an Australian resident — Korean assets, dividends, rental income
4. How to build Australian retirement assets — super, investing, property

→ These four have become more important than the visa.

Three things Korean high-net-worth individuals get wrong

• ① More money makes Australia easy to get into → Half true. Now eligibility comes before money.
• ② Buy property and PR follows → No such scheme exists.
• ③ Buy a business and PR is automatic → Buying a business does not guarantee PR.

So the question that matters now

• ❌ How much do I invest? → ⭕ What visa am I eligible for?
• ❌ Can I go with money? → ⭕ If I go, how do I bring the money?

hanhomoney’s view of 2026

The era of Australian investment migration is over. But the wealthy moving to Australia is not. Only the order has changed.

• Before: money → visa → settling
• Now: eligibility → visa → moving the money → settling

Read next

• The Korea–Australia money map · Before you land in Australia: the money things that matter
• Tax residency, Korea vs Australia · Selling a Seoul apartment and moving the funds · Sending money from Korea to Australia
• Australia’s working holiday now runs to 35 — the money maths in your 30s

Disclosure: This article is not migration advice. Confirm visa eligibility and applications with a registered migration agent (MARA). The author provides information from an accounting and fintech background — on asset movement, tax, remittance, and settlement funds. Immigration rules change frequently; verify the latest with the Department of Home Affairs and a registered MARA agent.