For years, Australia sold residency to wealthy migrants through its investor visas. Invest a few million dollars here, keep it here, and a permanent visa followed. That door has closed. Wealthy families still move here every year, for the lifestyle, the schools, the safety and the time zone. What’s changed is that the money no longer buys the visa. So the money decisions have to be made on their own merits.

What happened to the investor visas

The Business Innovation and Investment Program, which included the Significant Investor Visa, closed permanently to new applications on 31 July 2024. Applications already lodged are still being processed.

Its replacement for high achievers, the National Innovation Visa (subclass 858), started in December 2024. It’s permanent, invitation-only and aimed at exceptional researchers, entrepreneurs, investors, athletes and creatives in priority sectors. It’s selective: in the April to June 2026 round, Home Affairs reported 2,166 expressions of interest and 248 invitations, and there’s no separate tier you can buy your way into.

Most wealthy arrivals now come through skills, employer sponsorship, family or partner visas, or because they’re returning Australians. We don’t give visa advice. For that you need a registered migration agent or immigration lawyer, and we’re happy to work alongside yours.

The visa gets you here. The first twelve months decide how much of your wealth arrives with you.

Six money questions to settle early

1. When do you become an Australian tax resident?

Residency for tax isn’t the same as residency for immigration. It depends on where you live, your intentions and several statutory tests. A simpler 183-day test has been proposed but isn’t law. The date you become resident drives almost everything else below.

2. Will you be a temporary resident for tax?

If you hold a temporary visa and neither you nor your spouse is an Australian resident for social security purposes, most of your foreign income and foreign capital gains are exempt from Australian tax. That concession can be worth a great deal, and it ends the day you become a permanent resident. The timing of a permanent visa application can therefore have real financial consequences.

3. What’s the cost base of everything you own offshore?

When you become an Australian resident, your overseas assets are generally treated as acquired at their market value on that day. Gains made before you arrived usually escape Australian CGT, but only if you can prove those values later. Get valuations done and keep the records.

4. Can you buy the home you want?

Since 1 April 2025, foreign persons, including most temporary residents, have been banned from buying established homes. The Government announced in the 2026–27 Budget that the ban will be extended to 30 June 2029. New dwellings and some development and build-to-rent projects have exceptions, and permanent residents aren’t caught. Many families rent first, or buy new, until their status changes.

5. What happens to your overseas pension?

If you transfer a foreign pension to an Australian super fund within six months of becoming resident, the growth since arrival isn’t taxed. After that, it can be. Transfers count towards contribution caps (from 1 July 2026, $32,500 a year concessional and $130,000 non-concessional, with bring-forward rules). UK pensions also have to go to a fund that meets HMRC’s rules. The six-month window is easy to miss in the chaos of a move.

6. Do your offshore companies and trusts still work?

Structures that were efficient where you came from can be inefficient, or worse, here. Australia has its own rules for foreign companies and trusts controlled by residents. These need reviewing with an Australian tax adviser before you arrive, not after your first tax return.

Where we fit

Moving countries means a migration agent, an accountant in two countries, a lawyer, a buyer’s agent, a bank or two and, eventually, a school. Everyone handles their piece. WE Private’s job is to hold the whole financial picture: the sequence of decisions, the deadlines, where your money should sit when it lands, and how it should be invested once you’re here.

Sources: Department of Home Affairs, BIIP closure and National Innovation Visa pages (updated September 2026); ATO guidance on temporary residents, CGT on changing residency and transfers from foreign super funds; FIRB Guidance Note 6 (July 2026); ATO contribution caps. WE Private does not provide immigration assistance; consult a registered migration agent. General information only. It does not take into account your objectives, financial situation or needs and is not tax advice.