This temporary visa requires you to invest AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia.
This visa is only available to applicants who are nominated by an Australian State or Territory government. To be nominated, the applicant must lodge an Expression of Interest (EOI) through the SkillSelect system.
This is a 4-year temporary visa, for people who want to make a designated investment in an Australian state or territory. After maintained an investment in Australian for 4 years, the applicant can apply for permanent residence through the Business Innovation & Investment Subclass 888 visa.The applicants can either be in Australia or overseas to lodge this visa.
In order to satisfy the basic eligibility criteria, You must
- make an investment of AUD1.5 million in an Australian state or territory
- score at least 65 on the points test
- have net business, investment and personal assets of at least AUD2.25 million
- You must have a genuine intention to live for at least 2 years in the state or territory in which you have made an investment.
- have at least 3 years’ experience managing one or more qualifying businesses or eligible investments
- have a successful record of eligible investment or qualifying business activity
- have a genuine and realistic commitment to your business or investment activity in Australia after the original investment
Have managed investments of AUD1.5million or a qualifying business
For at least 1 of the 5 fiscal years immediately before we invite you to apply, have directly managed one of the following:
- a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
- eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5 million
Have assets of AUD2.25 million
During the 2 fiscal years immediately before we invite you to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million. These must be available for legal transfer to Australia within 2 years of the visa being granted.
Make an investment of AUD1.5 million in your nominating state or territory
You must make a designated investment of at least AUD1.5 million in a state or territory government security. This investment must use unencumbered funds from qualifying businesses or eligible investments. You must also be prepared to hold that investment for at least 4 years from date of the investment’s issue in your nominating state or territory.
- You must have had no involvement in unacceptable activities.
You must know that income that you earn from your designated investment in Australia is subject to tax under Australian taxation law