If the territory or the State government sponsor for the designated investment to be held continuously for four years, the applicant applies for the permanent residency visa in this stream. The applicant must hold a provisional visa subclass 165 to apply for this stream. For five years, the applicant is allowed to travel in and out Australia multiple times. It also allow the applicants to bring their family for live, work or study in Australia.
What are the requirements to apply?
- The applicant must be the primary holder of a subclass 165 visa.
- The applicant must hold a designated investment of AUD 750,000 for a period of four years in Australia.
- The applicant must be sponsored by the Territory oor State government.
- The applicant is primary holder of State/Territory Sponsored Investor (Provisional) visa (subclass 165).
- The applicant proves a genuine intention to maintain a business and investment activity in Australia.
- The applicant must reside in Australia for at least 2 years within the 4 preceding years of the date of visa application.
- There is no involvement in the illegal and unacceptable business activity.
- All the criteria laid in the provisional visa are complied with.
- All the character and health requirements including the family members are fulfilled.
- The applicant receives a sponsorship from the state or territory government.
- All the business requirements are fulfilled by the applicant.
The spouse or de facto partner of the applicant must:
- Possess a genuine and realistic commitment towards conducting investment activity and business in Australia.
- A designated investment is held of at least AUD 750,000 for the purpose granted in a State/Territory Sponsored Investor (Provisional) visa (subclass 165) for the period of 4 years in the name of the applicant or his partner.