Australia’s State or Territory Sponsored Investor Visa (Subclass 893): Requirements and Benefits

Overview of State or Territory Sponsored Investor Visa (Subclass 893)

If you are looking to invest in Australia and obtain permanent residency, you may want to consider the State or Territory Sponsored Investor Visa (subclass 893). This visa allows you to live and work in Australia indefinitely and provides a pathway to citizenship.

To be eligible for the subclass 893 visa, you must be nominated by a state or territory government and meet certain financial and investment criteria. The investment requirements include a minimum investment of AUD 1.5 million in an Australian state or territory government security, or a direct investment in an Australian business or managed fund.

Once you have obtained the subclass 893 visa, you and your family members can enjoy the benefits of living in Australia, including access to quality education, healthcare, and a high standard of living. You can also travel in and out of Australia as often as you like.

It is important to note that the subclass 893 visa has certain conditions that must be met. For example, you must reside in the sponsoring state or territory for at least two years and maintain your investment for at least four years. Failure to meet these conditions may result in the cancellation of your visa.

Overall, the State or Territory Sponsored Investor Visa (subclass 893) is a great option for those who want to invest in Australia and obtain permanent residency. It provides a pathway to citizenship and allows you to enjoy the benefits of living in Australia.

Eligibility and Application Process

Eligibility Criteria

To be eligible for the Australia State or Territory Sponsored Investor visa (subclass 893), you must meet the following requirements:

  • You must be sponsored by a State or Territory government agency.
  • You must be invited to apply for the visa.
  • You must be under 55 years of age, unless you are exempted.
  • You must have a successful business or investment history.
  • You must have a genuine intention to live in the sponsoring State or Territory.

Application Process

To apply for the Australia State or Territory Sponsored Investor visa (subclass 893), you must follow these steps:

  1. Obtain sponsorship from a State or Territory government agency.
  2. Receive an invitation to apply for the visa.
  3. Gather all the necessary documents to support your application, including evidence of your business or investment history, financial statements, and proof of your intention to live in the sponsoring State or Territory.
  4. Complete and submit the visa application form online, along with all the supporting documents.
  5. Pay the visa application fee.

Once you have submitted your application, it will be assessed by the Department of Home Affairs. You may be required to attend an interview or provide additional information if requested. If your application is successful, you will be granted the Australia State or Territory Sponsored Investor visa (subclass 893).

It is important to note that you must satisfy all the eligibility criteria and provide all the necessary supporting documents to be considered for the visa. You must also meet the health and character requirements specified by the Department of Home Affairs.

In summary, the Australia State or Territory Sponsored Investor visa (subclass 893) is a great opportunity for individuals who have a successful business or investment history and a genuine intention to live in the sponsoring State or Territory. By following the application process and providing all the necessary supporting documents, you can increase your chances of being granted the visa.

Investment Requirements

To be eligible for the Australia State or Territory Sponsored Investor visa (subclass 893), you must meet the investment requirements. This includes investing a minimum of AUD 750,000 in a designated investment in the sponsoring state or territory for a minimum of four years.

Designated Investment

A designated investment is an investment that is made in a state or territory government security, an eligible managed fund, or a direct investment in a proprietary company in Australia. The investment must be made in the sponsoring state or territory and must comply with the relevant regulations.

Unacceptable Business or Investment Activities

Certain business or investment activities are not acceptable for the Australia State or Territory Sponsored Investor visa (subclass 893). These include:

  • Real estate development or land ownership, unless it is for the purpose of conducting an eligible investment activity
  • Passive investments, such as purchasing bonds or depositing funds in a bank account
  • Nomination of funds to be managed by a third party
  • Purchase of an existing business in Australia, unless it is for the purpose of conducting an eligible investment activity

It is important to note that the investment activity must be conducted in the sponsoring state or territory and must comply with the relevant regulations.

In summary, to be eligible for the Australia State or Territory Sponsored Investor visa (subclass 893), you must invest a minimum of AUD 750,000 in a designated investment in the sponsoring state or territory for a minimum of four years. The investment must be made in an eligible investment activity and must comply with the relevant regulations. Certain business or investment activities are not acceptable for the visa and must be avoided.

Role of Migration Agents

If you are considering applying for the Australia State or Territory Sponsored Investor visa (subclass 893), you may want to consider seeking professional assistance from a registered migration agent. Migration agents are professionals who are trained and experienced in Australian migration law and procedures.

A migration agent can provide you with expert advice and guidance on your visa application, ensuring that you meet all the necessary requirements and that your application is completed accurately and on time. They can also help you to navigate the complex Australian migration system, saving you time and reducing the risk of errors or omissions that could result in your application being rejected.

When choosing a migration agent, it is important to ensure that they are registered with the Office of the Migration Agents Registration Authority (MARA). Registered migration agents are required to meet strict professional standards and must adhere to a code of conduct, which includes providing honest and accurate advice, maintaining client confidentiality, and acting in the best interests of their clients.

A professional migration agent will typically begin by conducting a thorough consultation with you to assess your eligibility for the visa and to discuss your personal circumstances and goals. They will then guide you through the application process, providing you with detailed instructions and assistance with the preparation of your application.

Overall, a registered migration agent can be a valuable asset in your application for the Australia State or Territory Sponsored Investor visa (subclass 893), providing you with the professional support and guidance you need to ensure a successful outcome.

Benefits of Subclass 893 Visa

If you are looking to invest in Australia, the Subclass 893 Visa can offer you a range of benefits. This visa is a permanent visa for investors who have held a designated investment in Australia for a minimum of four years. Here are some of the benefits of the Subclass 893 Visa:

Work and Study in Australia

With the Subclass 893 Visa, you have the opportunity to work and study in Australia. You can work and study in any field of your choice, and there are no restrictions on the number of hours you can work. This is a great opportunity to gain work experience in Australia and to improve your qualifications.

Permanent Residency

The Subclass 893 Visa is a permanent visa, which means that you can live and work in Australia permanently. This is a great benefit if you are looking to settle in Australia and make it your home.

Medicare

As a Subclass 893 Visa holder, you are eligible for Medicare. Medicare is Australia’s national healthcare system, which provides access to medical services and hospital treatment. This is a great benefit if you need medical treatment while you are in Australia.

Citizenship

If you hold a Subclass 893 Visa for four years and meet the eligibility requirements, you can apply for Australian citizenship. This is a great benefit if you are looking to become an Australian citizen and enjoy all the benefits that come with it.

Investment Opportunities

The Subclass 893 Visa requires you to make a designated investment in Australia for a minimum of four years. This is a great opportunity to invest in Australia’s economy and to take advantage of the investment opportunities available.

In summary, the Subclass 893 Visa offers a range of benefits for investors who are looking to invest in Australia. With the opportunity to work and study in Australia, permanent residency, access to Medicare, and the opportunity to apply for Australian citizenship, the Subclass 893 Visa is a great option for those looking to invest in Australia.

Processing Time and Fees

When applying for the Australia State or Territory Sponsored Investor visa (subclass 893), it is important to know the processing time and fees involved. The processing time for this visa can vary depending on several factors, including the number of applications received, the completeness of your application, and the time it takes to verify your information. Generally, the processing time for this visa is around 12 to 15 months. However, it is advisable to check the current processing time on the Department of Home Affairs website before applying.

In terms of fees, the Australia State or Territory Sponsored Investor visa (subclass 893) requires a significant investment of A$750,000. In addition to this investment, there are also several fees that you must pay when applying for this visa. These fees include a base application charge of A$4,890 for the primary applicant and an additional charge of A$2,445 for each secondary applicant. There is also an additional charge of A$1,235 for each dependent child under the age of 18.

It is important to note that these fees are subject to change, so it is always a good idea to check the current fees on the Department of Home Affairs website before applying. Additionally, it is important to ensure that you have all the necessary documents and information ready when applying for this visa to avoid any delays in processing time.

State or Territory Sponsorship

If you are interested in applying for the State or Territory Sponsored Investor Visa (subclass 893), you will need to have sponsorship from a state or territory authority in Australia. The sponsorship is a requirement for the visa application and can be obtained from the state or territory where you plan to invest your funds.

The State or Territory Sponsored Investor Visa is aimed at high net worth individuals who are willing to invest in designated investment schemes in Australia. The scheme is designed to attract foreign investment to the country and to promote economic growth.

To be eligible for the State or Territory Sponsorship, you must meet the following requirements:

  • You must have a net worth of at least AUD 2.25 million.
  • You must be willing to invest at least AUD 1.5 million in a designated investment scheme in Australia.
  • You must be nominated by a state or territory authority in Australia.

Each state or territory has its own criteria for sponsorship, and it is important to check the specific requirements of the state or territory where you plan to invest. For example, the New South Wales (NSW) government requires applicants to have a minimum net worth of AUD 5 million and to invest at least AUD 5 million in NSW.

Once you have obtained sponsorship from a state or territory authority, you can then apply for the State or Territory Sponsored Investor Visa (subclass 893). The visa allows you to stay in Australia indefinitely and to travel in and out of the country as you please. It also allows you to work and study in Australia.

In summary, the State or Territory Sponsored Investor Visa (subclass 893) requires sponsorship from a state or territory authority in Australia. The eligibility criteria and investment requirements vary between states and territories, so it is important to check the specific requirements of the state or territory where you plan to invest.

Additional Visa Options

If you are interested in investing in Australia, there are several visa options available to you. In addition to the State or Territory Sponsored Investor visa (subclass 893), you may also want to consider the following:

  • Business Innovation and Investment (Provisional) visa (subclass 188): This visa is for people who want to own and manage a new or existing business in Australia, or invest in an Australian state or territory. The visa is valid for four years and can lead to permanent residency if certain requirements are met.

  • Business Talent (Permanent) visa (subclass 132): This visa is for high-caliber business people who want to establish or develop a business in Australia. The visa is permanent and allows the holder to stay in Australia indefinitely.

  • Investor Retirement visa (subclass 405): This visa is for self-funded retirees who want to spend their retirement years in Australia. The visa is valid for four years and can be renewed if certain requirements are met.

  • Temporary Skill Shortage (TSS) visa (subclass 482): This visa is for skilled workers who have been sponsored by an Australian employer. The visa is valid for up to four years and can lead to permanent residency if certain requirements are met.

  • Skilled Independent visa (subclass 189): This visa is for skilled workers who want to live and work in Australia permanently. The visa is points-based and requires the applicant to score a certain number of points based on factors such as age, education, work experience, and English language proficiency.

If you are considering immigrating to Australia, it is important to research all of your visa options and choose the one that best suits your needs. Keep in mind that the requirements for each visa can vary, and it is important to meet all of the eligibility criteria before applying. Additionally, it may be helpful to consult with an immigration lawyer or consultant to help guide you through the process.

Business Activities in Australia

If you are considering the Australia State or Territory Sponsored Investor visa (subclass 893), it is important to understand the business activities you can engage in while in Australia. The visa is designed to attract investors who can contribute to the Australian economy by investing in local businesses and creating job opportunities.

As a subclass 893 visa holder, you are allowed to engage in a range of business activities in Australia. You can invest in an existing Australian business, start a new business, or participate in a joint venture with an Australian partner. You can also manage your business interests in Australia from abroad.

It is important to note that any business activities you engage in must comply with Australian laws and regulations. This includes registering your business, obtaining any necessary licenses and permits, and paying taxes.

If you are interested in investing in an existing Australian business, you can explore a variety of industries such as technology, healthcare, and renewable energy. Australia has a diverse economy, and there are many opportunities for investment across different sectors.

Starting a new business in Australia can also be a viable option for subclass 893 visa holders. Australia has a supportive business environment, with a strong entrepreneurial culture and access to funding and resources. You can explore different business structures such as sole proprietorship, partnership, or corporation.

Overall, the subclass 893 visa provides an excellent opportunity for investors to participate in the Australian economy and engage in a range of business activities. By investing in local businesses and creating job opportunities, you can contribute to the growth and development of the Australian economy.

Guide to Subclass 893 Visa

If you are a successful investor or business owner looking to migrate to Australia, the Subclass 893 visa might be the right choice for you. This visa is designed for individuals who have held a State or Territory Sponsored Investor visa (subclass 165) and have met specific criteria related to investment and residency in Australia.

Eligibility Criteria

To be eligible for the Subclass 893 visa, you must meet the following criteria:

  • Hold a State or Territory Sponsored Investor visa (subclass 165)
  • Have lived in Australia for at least two of the four years immediately before you apply
  • Have held your subclass 165 visa for at least four years
  • Have a successful record of investment in Australia
  • Meet the health and character requirements

Benefits of Subclass 893 Visa

The Subclass 893 visa provides several benefits to successful applicants, including:

  • Permanent residency in Australia
  • Access to Medicare, Australia’s public healthcare system
  • The ability to sponsor eligible family members for permanent residency
  • The opportunity to apply for Australian citizenship after meeting the eligibility criteria

Application Process

The application process for the Subclass 893 visa involves several steps, including:

  1. Review the eligibility criteria to ensure you meet the requirements.
  2. Gather all necessary documents, including proof of investment and residency in Australia.
  3. Submit an Expression of Interest (EOI) through SkillSelect.
  4. Wait for an invitation to apply for the visa.
  5. Submit a complete visa application, including all required documents and fees.
  6. Attend a biometric appointment and provide any additional information as required.
  7. Wait for a decision on your visa application.

The processing time for the Subclass 893 visa varies depending on a range of factors, including the complexity of your application and the number of applications being processed at the time.

Conclusion

The Subclass 893 visa is an excellent option for successful investors and business owners looking to make Australia their permanent home. By meeting the eligibility criteria and following the application process, you can enjoy the benefits of permanent residency in Australia and the opportunity to apply for citizenship in the future.

Frequently Asked Questions

What are the requirements for the State or Territory Sponsored Investor visa (subclass 893)?

To be eligible for the State or Territory Sponsored Investor visa (subclass 893), you must be nominated by a state or territory government agency and have a successful business or investment career. You must also meet certain health and character requirements and have a genuine intention to live in the sponsoring state or territory.

How much investment is required for the State or Territory Sponsored Investor visa (subclass 893)?

The minimum investment required for the State or Territory Sponsored Investor visa (subclass 893) is AUD 1.5 million. This investment must be made in an Australian state or territory government security for a period of four years.

What are the benefits of the State or Territory Sponsored Investor visa (subclass 893)?

The State or Territory Sponsored Investor visa (subclass 893) allows you and your family members to live, work, and study in Australia permanently. You can also travel in and out of Australia as many times as you want. Additionally, this visa provides a pathway to Australian citizenship.

What is the processing time for the State or Territory Sponsored Investor visa (subclass 893)?

The processing time for the State or Territory Sponsored Investor visa (subclass 893) varies depending on the complexity of your application and the number of applications being processed. Generally, it takes around 12 to 18 months to process this visa.

Can I include my family members in my State or Territory Sponsored Investor visa (subclass 893) application?

Yes, you can include your spouse or de facto partner, dependent children, and other dependent relatives in your State or Territory Sponsored Investor visa (subclass 893) application.

Do I need to have a job offer to apply for the State or Territory Sponsored Investor visa (subclass 893)?

No, you do not need to have a job offer to apply for the State or Territory Sponsored Investor visa (subclass 893). This visa is designed for successful business people and investors who want to make a significant investment in Australia and contribute to the Australian economy.

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