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This provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.
You must
– Be nominated by Austrade
– Be invited to apply for this visa
– Invest at least AUD15 million in Australian investments and/or philanthropic contributions that meet certain requirements
– Have a genuine intention to hold the investment for the whole period of the visa (except any part of the investment that is a philanthropic contribution)
With this visa
You can
– Carry out investment activity in Australia
– Stay in Australia for 4 years and 3 months
– Bring eligible members of your family with you
– Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream
How long you can stay
This is a provisional visa. You can stay in Australia for 4 years and 3 months.
The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.
The visa starts on the date the Home Affairs grant it.
Stay longer
This is a provisional visa. You must apply for a new visa if you want to stay longer. Explore your visa options
Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream if certain requirements are met.
Include family
You can include members of the family unit in your application when you apply. You can also add dependent children to your application at any time before the Home Affairs decide your application.
Family members who apply for the visa must meet the health and character requirements.
In order for the primary applicant to be granted this visa, family members who are not coming to Australia must meet the character requirements and might have to meet the health requirements.
Cost
This visa costs AUD9,455 for the main applicant.
There is also a charge for each family member who applies for the visa with you:
– Family members over 18 years old: AUD4,725
– Family members under 18 years old: AUD2,365
You must pay an extra charge for any applicant 18 years old or older who has less than functional English.This charge is the second instalment. Pay – It only when the Home Affairs ask you to. The Home Affairs will refund the charge if the Home Affairs do not grant you the visa. The second instalment charges are:
– Main applicant: AUD9,795
– Family members: AUD4,890
To work out what your visa will cost use the Visa Pricing Estimator. The estimator does not take into account the second instalment or other costs. You might also have to pay other costs for health checks, police certificates and biometrics.
Apply from
You can be in or outside Australia when you apply for the visa and when the Home Affairs decide on your application, but not in immigration clearance.
Processing times
There are no standard processing times available for this stream.
Your application can take longer to process if:
– You do not complete the application form correctly
– You do not include all the documents the Home Affairs need or need more information from you
– It takes time to verify your information
Your obligations
You and your family members who are part of your application must comply with all visa conditions and Australian laws.
If you apply for a Business Innovation and Investment (Permanent visa (subclass 888) Premisum Investor stream, you must genuinely have a realistic commitment to maintain business and investment activity.
You must also hold your investment of AUD15 million for a minimum of 12 months and follow Australian workplace laws.
Follow Australian workplace laws
All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.
Adequate health insurance
The Home Affairs recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.
Reciprocal healthcare agreements
Some countries have a reciprocal healthcare agreement with Australia. Find out more from Sevices Australia about reciprocal healthcare agreements.
Travel
You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
Visa label
Australian visas are digital.
The Home Affairs do not put a visa label in your passport. Instead, the Home Affairs will link your digital visa record to your passport.
Be nominated
You must be nominated by Austrade before being invited to apply for this visa.
Austrade must not withdraw their nomination after you apply, or the Home Affairs will be unable to grant you a visa.
Receive an invitation to apply
First you must submit an Expression of Interest (EOI). If Austrade accepts your EOI and nominates you, the Home Affairs will invite you to apply for this visa.
Austrade will not accept unsolicited expressions of interest.
Make a complying premium investment of at least AUD15 million
After you lodge your application, you must make a complying premium investment of at least AUD15 million in any of the following options
– Australian securities exchange listed assets
– Australian government or semi-government bonds or notes
– Corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the Australian listed entity), investment grade rated Australian corporate bonds or notes rated by an AFS licenced debt rating agency
– Australian proprietary limited companies that operate qualifying businesses (providing goods or services to the public with a profit-making intention, and not passive or speculative in nature)
– Real property in Australia excluding residential property
– Deferred annuities issued by Australian registered life companies
– State or territory government approved philanthropic contribution
To be an eligible fund, a further requirement is that cash is to be no more than 20% of a fund’s net assets and derivatives are to be used for risk management purposes only.
Premium investors may elect to make a portion or the entirety of their investment by way of a philanthropic donation (endorsed by a state or territory government.
Further information on the complying premium investment
Income that you earn from your complying premium investment in Australia is subject to tax under Australian taxation law.
You must also have a genuine and realistic commitment to continue your investment activity in Australia after your visa ends.
Do not make your complying premium investment before you submit a visa application. Once you have lodged an application, if the Home Affairs are satisfied you meet other criteria for the grant of the visa, you will be invited to make a complying premium investment.
Have net assets of at least AUD15 million
You must have net assets of at least AUD15 million. These assets could belong to you, your partner, or you and your partner combined. They must be legally acquired, unencumbered, and available to make the complying premium investment in Australia.
Not have a history of involvement in unacceptable activities
You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
Agree not to bring action against the Commonwealth
You must agree not to bring any action against the Commonwealth for any loss relating to your complying premium investment. This also applies to any member of the family unit 18 years of age or older who is also an applicant for this visa.
Have functional English
All applicants aged 18 or over at time of application must have at least functional English. If you are unable to prove they have functional English you will have to pay the second instalment.
Meet health requirement
You and any family members who apply for the visa with you must meet the health requirement.
If you apply for this visa from outside Australia, family members who are not coming to Australia may also have to meet the health requirement.
Meet character requirement
You and family members aged 16 years or over who apply for the visa with you must meet the character requirement. The Home Affairs may also ask that other family members meet the requirement.
Sign the Australian values statement
If you and your family members who have applied for the visa are 18 years of age or older at the time of application, you and your family members must:
– Have read, or had explained to you, the Life in Australia book
– Sign an Australian Values Statement that confirms you will respect the Australian way of life and obey Australian laws
Have no debt to the Australian Government
If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back
Not have had a visa cancelled or a previous application refused
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.
