The State/Territory Sponsored Investor visa (subclass 893) is for people who are sponsored by a state or territory authority and have held a designated investment in Australia for four years.
This is a permanent residence visa. An individual will be able to travel in and out of Australia for five years.
Who could be eligible for this visa:
Any individual can apply for this visa if:
- They are the primary holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165)- closed to new applications.
- They are sponsored by a state or territory authority
- They have lived in Australia for at least two of the four years immediately before they apply
- They have a genuine and realistic commitment to continue to maintain business or investment activities in Australia
- They and their partner have never been involved in unacceptable business activities
- The individual and all their family members meet health and character requirements
- They meet business requirements
- neither they nor their spouse or de facto partner has ever been involved in unacceptable business activities
- They met all the conditions of their provisional visa.
Members of their family unit might be eligible for this visa if they are the primary holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165)- closed to new applicants.
What this visa allows for:
This is a permanent residence visa. It allows the individual and any family members who have also been granted this visa to:
- Stay in Australia indefinitely
- Work and study in Australia
- Enroll in Medicare, Australia’s scheme for health-related care and expenses
- Apply for Australian citizenship(if they are eligible)
- Sponsor eligible relatives for permanent residence
- Travel to and from Australia for five years from the date the visa is granted (after that time, the individual will need a resident return visa or another visa to return to Australia).
The individual, or their spouse or de facto partner together must:
- Have held continuously for at least 4 years, in their name or their partner’s name, their designated investment of at least AUD750 000 made for the purpose of being granted a State/Territory Sponsored Investor (Provisional) visa.
- Have a genuine and realistic commitment to continue a business or investment activity in Australia.
The individual and their family are not able to access social security payments.
They may qualify for a Special Benefit payment from Centrelink if they suffer a major change of circumstances that is beyond your control.
In addition to the above-mentioned conditions, there are other factors and criteria to be taken into consideration.