Residence permit for Australia through investment in the economy
The Business Innovation and Investment visa programme is one of the primary routes to obtaining a residence permit in Australia. This visa allows investors and businesspeople to make significant contributions to the country’s economy, reside there for an extended period and eventually seek permanent residency. The programme includes several streams catering to high-net-worth individuals and businesspeople, each with its requirements and conditions.
This visa is closed to new applications from July 2024. If you submitted your application before this date, it would be processed. A new National Innovation visa will open by the end of 2024.
Requirements for obtaining a residence permit in Australia
The main requirements for applicants include:
- Being under 55 years of age
- Functional English
- Meeting health requirements
- No criminal record or involvement in criminal activities
- Receiving an invitation and nomination from a State or Territory
- No history of involvement in unacceptable activities
- No debts to the country
- Signing the Values Statement
- No previous application refusal or cancellation.
Conditions vary depending on the type of visa. Some programmes include the following criteria:
- Ownership and management of investments with sufficient experience
- Scoring at least 65 points on the points test, which includes questions about age, English proficiency, business experience and turnover, qualifications, assets and more
- Intention to live for at least two years in the State or Territory where the application was submitted
- Maintenance of investments
- Possession of sufficient net assets
Types of investment programmes for residence permits for Australia
Investor stream
A temporary visa is valid for up to five years. Applicants must:
- Be nominated by a State or Territory government agency
- Invest at least AUD 2.5 million (USD 1.69 million)
- Score a minimum of 65 points on the points test
- Have net assets of at least AUD 2.5 million (USD 1.69 million)
Significant Investor stream
Residence valid for up to 5 years. Requirements include:
- Receiving an invitation to apply for the visa
- Being nominated by Austrade or a government agency
- Investing at least AUD 5 million (USD 3.38 million)
- Maintaining the investment for the entire duration of the visa
Significant Investor Extension stream
One of the types of residence permits for Australia. Its validity period is four years. Applicants must:
- Hold a Significant Investor stream visa
- Be nominated by a State or Territory government agency
Premium Investor stream
A visa valid for four years and three months. Main requirements:
- Nomination by Austrade
- Investment of at least AUD 15 million (USD 10.13 million)
Cost of a residence permit in Australia
Visa charges are as follows:
| Type of Visa | Main Applicant | Family Members Over 18 | Family Members Under 18 |
|---|
| Investor Stream |
9710 AUD (6540 $) |
4855 AUD (3270 $) |
2430 AUD (1640 $) |
| Significant Investor Stream |
14 240 AUD (9590 $) |
7120 AUD (4800 $) |
3565 AUD (2400 $) |
| Significant Investor Extension Stream |
1170 AUD (790 $) |
590 AUD (400 $) |
295 AUD (200 $) |
| Premium Investor Stream |
9455 AUD (6360 $) |
4725 AUD (3180 $) |
2365 AUD (1590 $) |
Documents required to obtain a residence permit in Australia
To apply for an investor residence certificate in Australia, you must prepare the following documents:
- A colour copy of your passport
- Documents related to businesses, investments and assets
- Proof of ownership and net value of business and assets - Form 1139A (SALP)
- Documents showing ownership and management of the business, shares, statements, reports, etc.
- Points test documents, including educational qualifications and asset information
- Financial statements of the business
- Proof of business management experience
- Documents related to innovations, including registered patents, trademarks, grants and more
- Proof of functional English
- Health documents
- Form 80 character assessment
- Police clearance certificates from your home country and any territories where you have resided for a total of 12 months in the last 10 years
- Military service records or discharge papers if you served in the armed forces of any country
- Documents for your partner and dependants
The complete list depends on the type of visa. Attach photographs or scans of original documents and translations into English.
Renewal of a residence permit and obtaining permanent residence
Renewal of a residence permit in Australia is possible for the Significant Investor stream visa. It can be extended through the Significant Investor Extension stream twice. You must confirm compliance with investment conditions.
All previously mentioned types of temporary residency under the Business Innovation and Investment visa can be converted to permanent residency upon expiration. To obtain a permanent resident card in Australia, you must continue to meet the requirements. This new status will allow you to live permanently in the country, engage in investment and entrepreneurial activities, study and work.
Australian Citizenship
An investor’s visa serves as a pathway to citizenship by investment in Australia. To obtain an Australian passport, you must first have permanent residency. The requirements include legal residence in the country for four years, of which:
- At least one year must be in permanent resident status
- Absence from the country for no more than 1 year in total and no more than 90 days in the 12 months before applying for citizenship
To gain citizenship in Australia, you'll need to pass a test on English language proficiency and cultural knowledge and demonstrate your commitment to the country’s values.
