The Significant Investor Visa is a stream of the provisional Business Innovation and Investment Subclass 188 visa and is for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
There are a number of stages for the Significant Investor Visa
The first stage is the Expression of Interest (EOI). An EOI is a request by you, to the Department of Home Affairs, to be invited to make a visa application. You will be requested to provide a range of information about yourself and the source of your investment capital. The quality and content of your documentary evidence, will impact upon whether or not you are invited to make a visa application.
The second stage is an application for nomination by a State or Territory Government. Your application will be assessed on the basis of the economic benefit to the State (or Territory) and whether your investment proposal complies.
The third stage is to lodge a visa application following an invitation from the Department of Home Affairs. Again the quality and content of your documentary evidence will impact upon the speed at which your application is processed by the Department of Home Affairs. Inadequate content, information inconsistent with your EOI or incorrectly completed application forms may result in your application being refused. The Department’s visa application charges are usually non-refundable in the event of a refusal.
The Significant Investor visa is initially granted as a Provisional (Subclass 188) visa which can later, if the conditions of that visa are met, be converted to a Permanent (Subclass 888) visa. A robust application for permanent residence residence will be required.
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