- Requires invitation to apply for the visa
- Invests AUD15,000,000 in complying premium investments and hold for 4 years
- For offshore applicants, first entry must be made before the date specified by the Minister
Main Eligibility for Permanent Resident Visa
- Held 188 visa for at least 12 months
- Held the complying premium investment for the whole period
Did you know?
- There is no age limit for this visa
- There is no residency requirement to be eligible for the Subclass 888 permanent visa
- Source of funds for your investments is important, and they must be unencumbered and lawfully acquired
|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||AUD9,455 for primary applicant
AUD4,725 for additional applicant over 18 years
AUD2,365 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: Processing times are not available
90% of applications: Processing times are not available
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