The Australian Government has introduced a new visa pathway for migrant investors coming to Australia. The Significant Investor visa is a new stream within the Business Innovation and Investment (Provisional) (Subclass 188) visa and the Business Innovation and Investment (Permanent) (Subclass 888) visa.
Visa applicants must:
• submit an expression of interest in SkillSelect
• be nominated by a State or Territory government
• make investments of at least five million Australian dollars into complying investments.
Visa applicants do not need to satisfy the innovation points test and there are no upper age limits. The visa stream features a residence requirement of 160 days spent in Australia over four years while holding the Business Innovation and Investment (Provisional) (Subclass 188) visa. Visa holders can extend their visa term if they would like to given that they satisfy the extension requirements. They will be allowed to extend their provisional visa by an additional two years, with a maximum of two extensions permitted.
Source: DIAC
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