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Business Innovation and Investment (Permanent) visa - Investor stream (Subclass 888)

AustraliaInvestment

Explore the five recorded questions, answers and sources for this pathway.

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What investment option or options qualify?

The qualifying investment depends on the provisional-visa invitation date: applicants invited before 1 July 2021 invested AUD1.5 million as a 'designated investment' in an Australian state or territory; applicants invited on or after 1 July 2021 invested AUD2.5 million as a 'complying significant investment'. The applicant must be the primary holder of a Business Innovation and Investment (Provisional) (subclass 188) visa in the Investor stream (or a secondary holder whose primary-holder spouse/de facto partner holds that visa) and have a current nomination from an Australian state or territory. If invited on or after 1 July 2021, the provisional visa must have been held for at least 3 years.

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What official minimum amount, tier or threshold applies to each relevant option?

Investment capital depends on the provisional-visa invitation date: applicants invited before 1 July 2021 invested AUD1.5 million as a 'designated investment' in an Australian state or territory; applicants invited on or after 1 July 2021 invested AUD2.5 million as a 'complying significant investment'. Government fees are distinct from that capital: the main-applicant visa application charge is from AUD4,375.00 (concessions apply in limited circumstances); a second instalment charge of AUD4,890 applies per family member (only if not already paid at the provisional-visa stage).

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How long must the investment be maintained and what continuing ownership, investment or physical-presence conditions are important?

Pre-1 July 2021 invitees must have held the AUD1.5 million designated investment continuously (in their own name, or jointly with a spouse/de facto partner) for at least 4 years (applications made on or after 1 July 2015) or 3 years and 11 months (applications made before 1 July 2015); COVID-19 concessions can preserve eligibility if funds were withdrawn during the concession period under specified conditions. Post-1 July 2021 invitees must have held the AUD2.5 million complying significant investment for the whole period the provisional visa was held, and must report any transfers between investments. All applicants must not have been involved in unacceptable business or investment activities and must have a realistic commitment to continuing business or investment activities in Australia. Residence requirements also apply: at least 2 of the 4 years (pre-1 July 2021 invitees) or 2 of the 3 years (post-1 July 2021 invitees) immediately before applying, physically present in Australia.

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Which family members can be included where officially stated, and what broad residence/work rights result?

Family unit members can be included at application, and members can be added at any time before a decision is made. Family members applying for the visa must meet health and character requirements (character required for those aged 16 or over); those not coming to Australia must also meet character requirements and may have to meet health requirements. Family members aged 18+ at decision time must sign the Australian values statement. A second instalment charge of AUD4,890 applies per family member lacking functional English, unless already paid at the provisional-visa stage. The official source does not state the family members' residence or work rights.

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What status is obtained, how is it renewed, what longer-term residence/citizenship direction is officially stated, and what happens to the investment when relevant?

This is a permanent visa: the holder can stay in Australia permanently, work and study, access Medicare, sponsor relatives, and travel to and from Australia for 5 years under the initial travel facility (a Resident Return visa or Australian citizenship is needed to preserve re-entry rights as a permanent resident after that facility expires). Permanent residency for citizenship purposes starts on the day the visa is granted (if in Australia) or on first entry on this visa (if outside Australia when granted). The official source does not state what happens to the underlying investment after the permanent visa is granted.

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These are the answers currently recorded in the catalogue. A missing or partial answer is not an eligibility decision.

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