- Requires invitation to apply for the visa
- Invests AUD5,000,000 in complying significant investments in Australia and hold for 4 years
- Genuine intention to reside in the nominating State or Territory
- For offshore applicants, first entry must be made before the date specified by the Minister
Main Eligibility for Permanent Resident Visa
- Either the applicant has been in Australia for at least 160 days in 4 years or the spouse/de facto partner has been in Australia for at least 720 days in 4 years
- Have held your AUD5million complying significant investment for the whole period
Did you know?
- There is no age limit for this visa
- Complying significant investments include AUD500,000 in venture capital funds, and AUD1,500,000 in emerging companies investment funds, and remaining in one or more balancing investment funds
- You must live in Australia for at least 40 days each year (or your partner must live in Australia for at least 180 days each year) to be eligible for Subclass 888 permanent visa
|Stay||Up to 4 years and 3 months with pathway to Business Innovation and Investment (Permanent) visa subclass 888 which is a permanent visa|
|Cost||AUD7,880 for primary applicant
AUD3,940 for additional applicant over 18 years
AUD1,975 for additional applicant under 18 years
If applicant does not have at least Functional English, they are required to pay the second instalment charge as follows:
AUD9,795 for primary applicant
AUD4,890 for secondary applicant over 18
|Processing Time||75% of applications: 23 months
90% of applications: 27 months
You and your family members may be required to take a health examinations to meet the health requirement to show that you are free from any disease or condition that is:
- a significant healthcare and community service cost to the Australian community
- likely to limit the access of Australian citizens and permanent residents to healthcare and community services that are in short supply by placing demand on those services.
Your health examination will include the standard medical examination. Additional tests (such as TB Screen test, chest x-ray, and HIV test) will be required by different age groups. In some circumstances, you may be required to take additional tests such as: hepatitis B and C test, syphilis test, HIV test, and tests that address your specific health risks.
You must be of good character and pass the character test. There are a number of circumstances where you may not pass the character test. For example, if you have a substantial criminal record. A substantial criminal record means if you have been:
- sentenced to death or imprisonment for life
- sentenced to a term of imprisonment of 12 months or more
- sentenced to two or more terms of imprisonment (even if served concurrently) where the total is 12 months or more
- found by a court to not be fit to plead in relation to an offence but found to have committed the offence and detained in a facility or institution
You may be required to obtain one or more documents to prove your character, such as: a police certificate, Form 80, character statutory declaration, military certificate, or a letter of good conduct from an employer.
Start today – take the free initial assessment.
Check out our latest updates
- Australia Migration Program 2020-21
- Travel Exemption Approvals during COVID19
- State Nomination for 188 & 132 visa re-open for Victoria
- Subclass 188 visa holders added to the inbound travel exemption
- Announcement of new Priority Migration Skilled Occupation List (PMSOL)
- SkillSelect Invitation Rounds – 11 August 2020