Are you looking to invest and settle in Australia? The State or Territory Sponsored Investor visa (subclass 893) could be your pathway to achieving that goal. This visa offers permanent residency to eligible individuals who are willing to invest in and manage a business in Australia. In this article, we'll explore the details of the subclass 893 visa, its eligibility criteria, application process, and benefits. Read on to learn more about this opportunity to establish yourself in Australia as a successful investor.
What is the State or Territory Sponsored Investor visa (subclass 893)?
The State or Territory Sponsored Investor visa (subclass 893) is a pathway for high net worth individuals who are interested in investing in Australia. This visa offers permanent residency to successful applicants who are sponsored by a state or territory government and meet the specified investment requirements. The subclass 893 visa provides an opportunity for foreign investors to contribute to the Australian economy while also gaining the benefits of living and working in Australia.
With this visa, you can live and work in Australia permanently as an investor, while also enjoying benefits such as access to healthcare and education services. Successful applicants will also have the opportunity to bring their family members with them to Australia. Additionally, the subclass 893 visa provides a pathway to Australian citizenship, allowing investors to fully integrate into Australian society. Overall, the State or Territory Sponsored Investor visa (subclass 893) offers a unique opportunity for individuals looking to invest in Australia and make it their home.
What are the benefits of the 893 visa?
The State or Territory Sponsored Investor visa (subclass 893) offers several benefits to eligible applicants. Some of these benefits include:
- Permanent residency: This visa allows you to stay in Australia permanently, as long as you meet the visa conditions.
- Investment opportunities: With this visa, you can invest in a state or territory in Australia, which can provide a range of business and investment opportunities.
- Education opportunities: As a permanent resident, you can access education and training opportunities in Australia.
- Healthcare benefits: You can access Medicare, Australia's publicly funded healthcare system, as a permanent resident.
- Sponsorship for family members: If you are a permanent resident, you can sponsor eligible family members to come to Australia.
What are the conditions to be granted an 893 visa?
The State or Territory Sponsored Investor visa (subclass 893) is designed for individuals who are willing to make a designated investment in Australia and want to settle in a particular state or territory. To be eligible for this visa, the applicant must have a nomination from a state or territory government agency and meet certain criteria, including but not limited to:
- Have this visa: Applicants must hold a State/Territory Sponsored Investor (Provisional) visa (subclass 165) and have been a resident in the state or territory of their sponsoring authority for at least 2 years in the 4 years immediately prior to applying for the subclass 893 visa.
- Business Requirements: Applicants must have held a designated investment of at least AUD 750,000 for a minimum of 4 years and have a genuine and realistic commitment to continue a business or investment activity in Australia. They must also have never been involved in unacceptable business activities.
- Sponsorship: Applicants must be sponsored by the regional authority in the state or territory in which they have lived for at least 2
- Age: There is no age limit for this visa.
- Health and Character Requirements: Applicants and their family members must meet the health and character requirements set by the Australian government.
It is important to note that meeting these eligibility requirements does not guarantee that the visa will be granted, as each application is assessed on a case-by-case basis.
How do I get sponsored to move to Australia?
To obtain a State or Territory Sponsored Investor visa (subclass 893), you need to have a sponsor from the regional authority in the state or territory in which you have lived for at least 2 years in the 4 years immediately before you apply for the visa.
In addition, you must have been a resident, as the holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165), in the state or territory of your sponsoring authority for at least 2 years in the 4 years immediately before you submit your visa application.
You, or you and your partner together, must have held continuously for at least 4 years, in your name or your name and your partner's name, your designated investment of at least AUD 750,000 made for the purpose of being granted a State/Territory Sponsored Investor (Provisional) visa (subclass 165), and have a genuine and realistic commitment to continue a business or investment activity in Australia.
How do I apply for the 893 visa?
To apply for a State or Territory Sponsored Investor visa (subclass 893), you will need to follow these steps:
- Gather all necessary documents: You will need to provide various documents such as your passport, evidence of your designated investment in Australia, evidence of your net assets, evidence of your business and investment activity, and other supporting documents.
- Submit an Expression of Interest (EOI): You must submit an EOI through SkillSelect and be invited to apply for this visa.
- Obtain state or territory nomination: You will need to be nominated by the state or territory where you have lived for at least two years in the four years immediately before your visa application.
- Lodge your visa application: Once you receive an invitation to apply for the visa, you will need to lodge your visa application online through the Department of Home Affairs website. You will need to pay the visa application charge and provide all the required documents.
- Wait for a decision: After you submit your application, you will need to wait for a decision. The processing time may vary depending on your individual circumstances.
If you are considering applying for the State or Territory Sponsored Investor visa (subclass 893), it is recommended that you carefully review the eligibility requirements and assess whether you meet all of the criteria. It may also be helpful to seek the advice of an immigration lawyer or registered migration agent who can provide you with guidance and assistance throughout the application process. Additionally, it is important to ensure that all of the necessary documents and forms are submitted correctly and on time to avoid any delays or complications in the application process.
Conclusion
In conclusion, the State or Territory Sponsored Investor visa (subclass 893) provides a great opportunity for overseas investors to make a significant investment in Australia and obtain permanent residency. It is important to carefully review the eligibility requirements, investment criteria, and state or territory sponsorship options before applying. Seeking the assistance of a qualified migration agent or financial advisor can also be beneficial to ensure a successful application process. With careful planning and thorough research, this visa can be a pathway to achieving long-term investment and residency goals in Australia.
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