- October 21, 2020
- Posted by: Editor
- Category: Law
Foreign businessmen interested in immigration in Australia have the possibility of applying for a visa created especially for investment purposes. The investor visa in Australia provides the right of living in this country for an undetermined period of time and, in this case, the investor can also obtain Australian citizenship.
Our Australia immigration lawyer can present the steps investors have to follow when applying for this type of visa. Our lawyer can also help with advice on the minimum requirements investors have to satisfy prior to applying for this visa, as well as other aspects they have to respect after the visa was issued and the foreigners relocated here for business purposes. You can also find out all the steps in receiving a residence permit in Australia.
General information on the investor visa in Australia
Foreign businessmen generally seek to expand their business opportunities in new markets. In other cases, businessmen may simply want to relocate for an undetermined period of time in a new country, while carrying a new business venture in the respective country or participating in a local business.
In this case, a foreign individual can opt for an investor visa in Australia, which is a type of immigration document that can be used by those interested in starting a business or participating in an investment project on the local market. Some of the highlights of this type of visa are presented below:
- in order to start the process for immigration to Australia, the applicant has to pay a processing fee of AUD 2,450;
the businessmen can obtain the investor visa in Australia that is prescribed by the visa Subclass 891;
however, in order to obtain this document, which grants the right to permanent residency in Australia, the applicant must be the holder of a Subclass 162 – Investor (Provisional) Visa;
when applying for the visa Subclass 891, the applicant must have already lived in Australia for 2-4 years;
the applicant must be able to prove that he or she has already invested in Australia at least AUD 1,5 million in the period in which the person has lived here.
The eligibility criteria imposed for this type of investor visa in Australia can be studied on the website of the Department of Home Affairs, operating under the Australian Government. However, for more in-depth details regarding this, you can also address to our immigration lawyer in Australia. Our lawyer can assist you with more information on the process of applying for Australian citizenship as well.
Investor visa in Australia – Subclass 188
Another type of visa investors can obtain if they want to migrate to Australia is the Business Innovation and Investment (Provisional) Visa, stipulated under the visa Subclass 188. This visa type is addressed to foreigners who want to set up their own business in Australia or to those who want to participate in an existing company. The document grants the right to obtaining a residence permit in Australia, through which a foreigner can live here for a given period of time.
The visa Subclass 188 prescribes several categories of visas that can be obtained by foreign investors, which are differentiated based on the value of investments, the rights granted to foreigners, the validity of the visa (it can range from 4 to 6 years). We will present below some of the options prescribed under this visa subclass, but additional and more comprehensive details can always be provided by our Australia migration lawyer.
This visa subclass also offers the possibility of extending one of the visas obtained by the foreign investors, and the extension period can vary from 2 to 4 years. For instance, those who have applied for a Business Innovation and Investment (Provisional) Visa are allowed to obtain an extension, the following being available:
- in normal conditions, the extension for the investor visa in Australia for this type of visa can be of 2 years;
however, in the current conditions created by the COVID-19, the local authorities have created a new legal environment which allows investors to extend their visa for 4 years;
this means that the basic duration of stay, of 4 years, can be extended to a total of 8 years;
investors must be aware that they can be the holder of only 1 a Business Innovation and Investment (Provisional) Visa at the moment when they apply for an extension;
the fee applied for the visa extension is of AUD 645.
The visa options for those who want to migrate to Australia are not limited to the visa types presented in this article. Additional immigration documents are available for those who want to obtain an investor visa in Australia, such as the Business Talent (Significant Business History Stream) or the Business Talent (Venture Capital Entrepreneur Stream). You are invited to contact our Australia migration lawyer for legal assistance and legal representation on the issuance of one of the visas presented in this article.