There are so many pathways and routes to working and living in Australia and they all require a visa. But with so many visa options, all with different requirements and eligibility criteria, it can be difficult to find the one that fits your circumstances. The State/ Territory Sponsored Investor Visa (subclass 893) is an option for business owners or investors who currently hold a provisional version of this visa (subclass 165) and would like to apply for permanent residence.
Who can apply for this visa?
The State/ Territory Sponsored Investor visa (subclass 893) is ideal if you have a genuine commitment and passion for maintaining and growing your business prospects in Australia. Specifically for those who are currently living in Australia on a temporary basis, applicants must be sponsored by a state or territory authority, and have held a designated investment in Australia for four years. There are a number of other requirements, which cover character, health, business and eligibility, which examine things like business background, outstanding debts and criminal records. These can be found here on the Australian Government Department of Immigration and Border Protection website. The main requirements for this visa:
- You currently hold a provisional State/ Territory Sponsored Investor Visa (subclass 165)
- You have held a designated investment of AUD 750,000 in Australia for four years
What can you do on this visa?
As this is a permanent residence visa, you get most of the benefits of an Australian citizen. You can:
- Stay in Australia indefinitely
- Work and study in Australia
- Enrol in Australia’s healthcare scheme, Medicare
- Apply for Australian citizenship
- Sponsor eligible relatives for permanent residence
- Travel to and from Australia for five years from the date the visa is granted. (after that time, you will need a resident return visa or another visa to return to Australia).
Before you apply, you must get a sponsorship from the regional authority in the state or territory in which you have lived for at least two out of four years prior to your visa application. You should complete the sponsorship form, which can be found here, and send the completed form to the appropriate state or territory authority. Once the form has been returned back to you, include it with your application. When you make your application, you must be living in Australia. You should complete the form found here, and send it with your sponsorship form and relevant supporting documents. The time of length varies depending on each visa and your particular circumstances. Understandably, applying for visa can be confusing and stressful.
We are experts in Investor Visas and can assist with guiding you through the application process, as well as providing advice and valuable resources. Get in touch with us at: email@example.com for more information.