The following types of provisional investor visas were available to individuals who applied up to the 30th of June, 2012.
- Subclass 162, Investor (Provisional)
- Subclass 165, State/Territory Sponsored (Provisional)
As these visas are no longer available to new visa applicants we have not commented further on them here.
Existing subclass 162 and 165 visaholders can progress to permanent residency under subclasses 891 and 893.
Investor (Residence), Subclass 891
Requirements for the granting of this permanent residency visa are as follows:
- Must be the holder of an Investor (Provisional) visa, subclass 162.
- Have maintained a Designated Investment of A$1.5m for at least 4 years
- Have been resident in Australia as the holder of a subclass 162 visa for at least 2 out of the 4 years immediately before the visa application is lodged
- Have continued to maintain business/investment activity in Australia
State/Territory Sponsored Investor (Residence), Subclass 893
Requirements for the granting of this permanent residency visa are as follows:
- Must be the holder of a State/Territory Sponsored Investor (Provisional) visa, subclass 165.
- Have maintained a Designated Investment of A$750,000 for at least 4 years
- Have been resident in Australia as the holder of a subclass 165 visa for at least 2 out of the 4 years immediately before the visa application is lodged
- Have continued to maintain business/investment activity in Australia
- Have obtained sponsorship from a State or Territory Government
There are also significant tax consequences of moving from a provisional visa to a permanent residency visa which all intending permanent visa applicants should be aware of when considering their visa strategy.
Our Managing Director has many years of experience in Australian visas and tax – he is a qualified Chartered Accountant and a Registered Migration Agent – so will understand planning and compliance requirements as you move towards the granting of a permanent residency visa.
GM Investors works with our clients on the basis of fixed fees, and a wish to have a long term relationship based on our expertise, trust and a quality service.
We look forward to hearing from you.