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This visa is for people who undertake business and investment activities in Australia. It allows you to stay in Australia indefinitely. To apply as a primary applicant, you must have a qualifying visa granted on a particular basis.

With this visa you can

  • Stay in Australia permanently
  • Work and study in Australia
  • Enroll in Australia’s public health care scheme, Medicare
  • Sponsor your relatives to come to Australia
  • travel to and from Australia for 5 years
  • Apply for Australian citizenship, if eligible

How long you can stay

This is a permanent visa. It lets you stay in Australia indefinitely. The visa has a travel component that expires 5 years after the date of visa grant.

You become a permanent resident on the day we grant the visa.

Cost

The visa costs AUD2,450 for the main applicant.

There is also a charge for each member of the family unit who applies for the visa with you.

Second instalment charge

You might have to pay an extra charge for any applicant 18 years old or older who has less than functional English and who does not hold an eligible visa when they apply. This charge is called the second installment. This charge is only payable if you are requested to pay it and we send you an invoice.   

The second installment charge for family members is AUD4,890.

Processing times

We assess applications on a case by case basis, and actual processing times can vary due to individual circumstances including:

  • whether you have lodged a complete application, including all necessary supporting documents
  • How quickly you respond to any requests for additional information
  • How long it takes to perform required checks on the supporting information provided
  • Again how long it takes to receive additional information from external agencies, particularly in relation to health, character, and national security requirements
  • for permanent migration visa applications, how many places are available in the migration program

Eligibility

  • You must hold Subclass 162 – Investor (Provisional) visa that was granted to you on the basis that you satisfied the primary criteria for that visa.
  • You must have lived in Australia as the holder of a Subclass 162 (Investor (Provisional) visa for a total of at least 2 years in the 4 years immediately before you submitted the application. The 2 year period does not have to be continuous.
  • There is no age limit for this visa
  • You must meet Business Requirement
  • Must meet health requirement.
  • You must meet character requirement.
  • Signed Australian Value Statement
  • Not have had a visa cancelled or a previous application refused

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