COLUMNS
THE LAW
REAL ESTATE
COLUMNS
THE LAW
By JESS ICAO
How an adopted child can migrate to Australia
THERE are many misconceptions that adopting a child in the Philippines by former Filipino who is now an Australian citizen or permanent resident would entitle the child to migrate to Australia as the child of the adopting parent . It is not outright as child adoption is governed by the Migration Act 1958 and Migration Regulations 1994 . Take this common scenario : you have been in Australia for a long time and is now an Australian citizen and all your biological children are all grown up and not living with you anymore . You return to the Philippines and adopted a minor child which after assessment by DSWD , your lawyer filed an adoption in the Court which was subsequently approved giving you parental authority on the child . You then return to Australia to sponsor the child as your own child by virtue of the adoption order by the Court in the Philippines making you as the parent of the child . Do you think you can get an approval with the Immigration ? The answer is no . Subclass 101 of the Migration Regulations 1994 ( Child visa ) sets the criteria for the approval of child visa for migration to Australia . The important criterion is that the child must be adopted by the adopting parent before she / he becomes an Australian citizen or permanent resident . Put simply , the adoption must occur before the adopting parent became an Australian citizen or permanent resident not after they became an Australian citizen . It is therefore suggested that prospective adopting parent will consider adopting a minor child usually before turning 18 years old before they become an Australian permanent resident or Australian citizen as clause 101.211 ( c ) ( ii ) of schedule 2 of the Migration Regulations 1994 it is a requirement - that the child was adopted overseas by a person whom at the time of adoption , was not an Australian citizen , holder of a permanent visa or an eligible New Zealand citizen , but later became an Australian citizen , a holder of permanent visa or an eligible New Zealand citizen . Under subclass 102 ( called adoption visa ), using the above scenario the adopting parent might be able to sponsor the minor child for migration to Australia provided the following criteria are satisfied : + The child applicant is under 18 years old ; and + The child is adopted or in the process of being adopted in the Philippines by Australian citizen or permanent resident or eligible New Zealand citizen ; and + The adopting parent resides in the Philippines for more than 12 months at the time of filing the application ; and + The Minister is satisfied that the residence of the adopting parent overseas was not contrived to circumvent the requirement for entry to Australia of children for adoption ; and + The adopting parent has lawfully acquired full and permanent parental rights by the adoption . The five requirements are mandatory for the application under adoption visa to be approved . Failure to satisfy any of the requirements will result in the refusal of the application . The residence of the adopting parent for more than twelve ( 12 ) months is important in this application as DSWD will assess the adopting parent on their suitability as adopting parent . Further , the adopting parent will satisfy the Department of Home Affairs that their stay for more than 12 months overseas before the application is filed was made not just to comply with the regulation but to bond with the child . Another important point to remember under this visa is to explain to the Immigration that it is in the best interest of the child to be adopted and the child to join with the adopting parent in Australia .
REAL ESTATE
By JERONE BALAGTAS
Accountants could be missing out on home loans
AN ACCOUNTANT is a highly trained and highly regarded professional . As a result some banks treat them a bit more differently , banks are aware that accountants in general are smart , savvy and diligent with their money and as a result are willing to offer home loans with unique benefits and features to them . From waived LMI costs to discounted interest rates , these loans can help borrowers enjoy sizeable savings . How do home loans for accountants work ? Generally speaking , home loans for accountants work in much the same way as any other home loan . They are available for owner-occupiers , investors , refinancers and those looking to renovate their property .
However , home loans for accountants offer selected special discounts that you won ’ t find on a regular home loan . For example , while most loans will require you to take out lenders ’ mortgage insurance ( LMI ) if you don ’ t have a 20 % deposit , many home loans for accountants will allow you to borrow up to 90 % LVR ( loan-to-value ratio ) or even more without requiring any LMI . In addition , some home loans for accountants are offered with a discount on the standard variable interest rate , resulting in big savings in interest repayments . The savings on mortgage insurance will depend on the total loan exposure but I ’ ve helped clients avoid mortgage insurance up to $ 40,000 .
10 AUGUST 2018 | AK NewsMagazine , Vol 8 No 11 www . kalatas . com . au SEPTEMBER 2018