|Overview||This visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.|
|Cost of application||From AUD7,880 (see ’cost’ below for additional information)|
|Duration of visa||Up to 4 years and 3 months.If you applied before 1 July 2015, you can stay up to 4 years. Multiple entry.|
|Uses of this visa||
|Eligibility||Applicants must meet the following requirements-
This visa costs AUD7,880 for the main applicant.
There is also a charge for each family member who applies for the visa with you.
- additional applicant over 18 years old: AUD3,940
- additional applicant under 18 years old: AUD1,975
You will have to pay the second instalment of the visa application charge for any applicant who was at least 18 years old at the time of application, and satisfies the secondary criteria for the grant of a subclass 888 visa and is assessed as not having functional English and has not paid a second instalment of the visa application charge in relation to an application for their Business Innovation and Investment (Provisional) (subclass 188) visa. You will be refunded the charge if the visa is not granted to the applicant.
The second instalment charges are:
- main applicant: AUD9,795
- family members: AUD4,890
You might also have to pay other costs for health checks, police certificates and biometrics.
To be granted this visa, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million when you are invited, and have a genuine intention to hold that investment for at least 4 years. It must be invested in the following proportions:
- at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least AUD3 million in managed funds
Remember the following-
- The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.
- Direct investment in residential real estate is not allowed. Indirect investment in residential property is strictly limited through managed funds.
- The investments must not be used as security or collateral for a loan.