State/Territory Sponsored Investor visa (subclass 893)

About this visa

The State/Territory Sponsored Investor visa (subclass 893) is for people who are sponsored by a state or territory authority and have held a designated investment in Australia for four years.

You can apply for this visa if you already hold a State/Territory Sponsored Investor (Provisional) visa (subclass 165).

How long the visa lasts

This is a permanent residence visa

What you can do

This visa allows you to manage your business and investment activities in Australia.

This is a permanent residence visa. It lets you and any family members who have also been granted this visa to:

Stay in Australia indefinitely
Work and study in Australia
Enrol in Medicare, Australia’s scheme for health-related care and expenses
Apply for Australian citizenship (if you are eligible)
Sponsor eligible relatives for permanent residence
Travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).

You and your family are not able to access social security payments.

Eligibility

Who could get this visa

The State/Territory Sponsored Investor visa (subclass 893) is for people who are sponsored by a state or territory authority and have held a designated investment in Australia for four years.

You can apply for this visa if:

You are the primary holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165).
You are sponsored by a state or territory authority
You lived in Australia for at least two of the four years immediately before you apply
You have a genuine and realistic commitment to continue to maintain business or investment activities in Australia
You and your partner have never been involved in unacceptable business activities
You and all your family members meet health and character requirements
You meet business requirements
Neither you nor your spouse or de facto partner have ever been involved in unacceptable business activities
You met all the conditions of your provisional visa.

Members of your family unit might be eligible for this visa if you are the primary holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165).

Business

You, or your spouse or de facto partner together must:

Have held continuously for at least 4 years, in your name or your partner’s name, your designated investment of at least AUD750 000 made for the purpose of being granted a State/Territory Sponsored Investor (Provisional) visa (subclass 165).
Have a genuine and realistic commitment to continue a business or investment activity in Australia.

Applicants may also needed to meet below requirements

Character requirements, Health requirements, Health insurance requirements, Must not have Debts to the Australian Government, biometric and other requirements if needed.

Your obligations

You and your family must comply with all visa conditions and Australian laws.

Source – Australian Immigration Website.