How to become a permanent resident in Australia?

financialexpress.com:

Australia, one of the wealthiest countries in the world, has long been a popular destination for Indian immigrants seeking permanent residency and Australian citizenship. In 2022-23, a total of 192,947 people from over 200 different nationalities became Australian citizens. Among the top 10 countries of nationality, 40,361 Indians obtained Australian citizenship between July 2022 and June 2023.

The immigration system in Australia is merit-based and one can become a permanent resident of Australia either by Citizenship by Investment or Residence by Investment scheme. Visa applicants must meet certain criteria prescribed to the appropriate visa subclass

To keep their status as permanent residents, individuals must either show strong ties to Australia or reside in the country for at least two of every five years.

According to Henley & Partners there are four visa streams under the Investment Program offering a direct pathway to permanent residence after three years, subject to meeting certain residence and investment or business turnover requirements. The initial visa will be valid for five years. A new investor program is expected to be announced in 2024.

The Business Innovation and Investment Program includes the following:

The Business Innovation Stream — Individuals must pass a points test, have a successful business career with a business turnover of at least AUD 750,000, and have net assets of AUD 1.25 million. They must also obtain and maintain substantial ownership and management of an Australian business and reside in the country for at least one year.

The Investor Stream — Individuals must pass a points test, commit AUD 2.5 million into a complying Australian-managed investment fund for the duration of the