Investor (Provisional) - Subclass 162
About this Visa
This visa is for people who have a successful business or investment career, and have a genuine and realistic commitment to be involved in investing or business in Australia. This visa is also the first step towards being granted a permanent Business Skills visa.
Who is this visa for?
This visa is for investors/business people from overseas who are willing to invest funds in a designated investment in Australia for four (4) years, and are less than 45 years of age.
How much will this visa cost?
You must pay a non-refundable visa charge when you lodge your visa application.
See: Business Development Visa Charges
What does this visa let me do?
With this visa you can:
* make a designated investment
* travel in and out of Australia any number of times as long as the visa is valid
* have your family accompany you to Australia. They will have access to work and study rights
* establish a pathway to permanent residence
How this Visa Works
This visa is a temporary visa, and the first step towards being granted a permanent Business Skills visa. You must be outside Australia when this visa is granted, unless you held a student visa at the time you applied.
You may be eligible for a permanent Business Skills visa after holding this visa for a minimum of two (2) years. To be eligible for a permanent Business Skills visa you must meet all the obligations of this visa and additional requirements of the permanent Business Skills visa you apply for. Meeting these requirements may take you longer than two (2) years.
After two (2) years you may be eligible to apply for one of the following visas:
* Investor (residence)
or
* State/Territory Sponsored Investor (residence)
* State/Territory Sponsored Business Owner (residence)
* Business Owner (residence)
Visa validity period
This visa is valid for four years.
If the visa is granted while you are:
* in Australia (Student visa holders only), it is valid from the date of grant
* outside Australia, it is valid from the entry expiry date on your visa label.
Bringing family
The following people may be included in your application:
* your partner
* your or your partner's dependent children
* other dependent relatives living with you.
With this visa you are unable to access Medicare, the Australian Government medical expenses and hospital care scheme.
See: www.medicare.gov.au
Private Health Insurance is available to you, but it is not a requirement for the grant of this visa.
See:
www.health.gov.au
www.phiac.gov.au
Family assistance
With this visa you are unable to access family assistance.
See: www.familyassist.gov.au
Social security
With this visa you are unable to access social security payments.
See: www.centrelink.gov.au
Investor (provisional) visa definitions
Definitions are available to help you understand the information on these pages.
See: Definitions
This visa is a temporary visa, and the first step towards being granted a permanent Business Skills visa. You must be outside Australia when this visa is granted, unless you held a student visa at the time you applied.
You may be eligible for a permanent Business Skills visa after holding this visa for a minimum of two (2) years. To be eligible for a permanent Business Skills visa you must meet all the obligations of this visa and additional requirements of the permanent Business Skills visa you apply for. Meeting these requirements may take you longer than two (2) years.
After two (2) years you may be eligible to apply for one of the following visas:
* Investor (residence)
or
* State/Territory Sponsored Investor (residence)
* State/Territory Sponsored Business Owner (residence)
* Business Owner (residence)
Visa validity period
This visa is valid for four years.
If the visa is granted while you are:
* in Australia (Student visa holders only), it is valid from the date of grant
* outside Australia, it is valid from the entry expiry date on your visa label.
Bringing family
The following people may be included in your application:
* your partner
* your or your partner's dependent children
* other dependent relatives living with you.
With this visa you are unable to access Medicare, the Australian Government medical expenses and hospital care scheme.
See: www.medicare.gov.au
Private Health Insurance is available to you, but it is not a requirement for the grant of this visa.
See:
www.health.gov.au
www.phiac.gov.au
Family assistance
With this visa you are unable to access family assistance.
See: www.familyassist.gov.au
Social security
With this visa you are unable to access social security payments.
See: www.centrelink.gov.au
Investor (provisional) visa definitions
Definitions are available to help you understand the information on these pages.
See: Definitions
Eligibility
You must meet the following requirements to be eligible for this visa. You must provide evidence of each of the requirements with your application.
Age
You must be less than 45 years old.
State/Territory notification
You have notified the appropriate regional authority of a state or territory; and your intention to develop a business in that State or Territory.
Designated Investment
At the time of the decision you have made a government approved Designated Investment of AUD1,500,000 in a state or territory of Australia. This amount must be available for transfer to Australia within a reasonable period when requested.
English level
You must have a vocational level of English. To show this you must you have one the following:
* have evidence you are a native English speaker
* undertake the International English Language Testing System (IELTS). You need to take the general training test, and must achieve a band score of at least five from a maximum of nine, for all four components of the test; speaking, reading, listening and writing. (Your IELTS test results may not be more than 12 months old when you apply)
See: www.ielts.org
* hold a NAATI accreditation in English.
See: www.naati.com.au
Business career
For at least one of the five fiscal years immediately before you apply:
* You have maintained direct involvement in either managing a main business in which you (or you and your partner together) had an ownership interest of at least:
o 51 per cent of the business where the turnover is less than AUD400 000 per annum
o 30 per cent of the business where the turnover is AUD400 000 or more per annum
o 10 per cent where the business is a publicly listed company
or
* You maintained direct involvement in managing your (or you and your partner's combined) eligible investments. The total value of that investment was at least AUD1,500,000.
Business experience
You have an overall successful record of eligible investment of qualifying business activity.
You have a total of at least three years experience of direct involvement in managing one or more main businesses or eligible investments.
You have demonstrated a high level of management skill in relation to an eligible investment or qualifying business activity.
Business record
You (or your partner) have never been involved in unacceptable business or investment activities.
Committed to business in Australia
You have a commitment to develop and maintain an ownership interest in a business in Australia and you must maintain direct and continuous involvement in the management of that business.
Net assets
The net value of your (or your and your partner's combined) assets was at least AUD2,250,000 for the two fiscal years immediately before you apply.
Health requirement
You must meet health requirements to enter Australia.
See: Health Requirements
Character requirement
You must be of good character for you to enter Australia.
See: Character and Penal Clearance Requirements
Australian Values Statement
If you are aged 18 years or over, you are required to sign an Australian values statement. The statement is included in your visa application form and all applicants aged 18 years and over will need to sign it to confirm that they will respect the Australian way of life and obey Australian laws. Before signing this statement you are required to have read, or had explained to you, material made available by the government on life in Australia which is contained in the Life in Australia book.
The Life in Australia book provides more information on the values that Australians share and their way of life.
See:
Australian Values - Overview
Life in Australia Book
Application document checklist
The checklist provides all the information and supporting documents that you may be asked to provide with your application.
See: Application document checklist (73KB PDF file)
You must meet the following requirements to be eligible for this visa. You must provide evidence of each of the requirements with your application.
Age
You must be less than 45 years old.
State/Territory notification
You have notified the appropriate regional authority of a state or territory; and your intention to develop a business in that State or Territory.
Designated Investment
At the time of the decision you have made a government approved Designated Investment of AUD1,500,000 in a state or territory of Australia. This amount must be available for transfer to Australia within a reasonable period when requested.
English level
You must have a vocational level of English. To show this you must you have one the following:
* have evidence you are a native English speaker
* undertake the International English Language Testing System (IELTS). You need to take the general training test, and must achieve a band score of at least five from a maximum of nine, for all four components of the test; speaking, reading, listening and writing. (Your IELTS test results may not be more than 12 months old when you apply)
See: www.ielts.org
* hold a NAATI accreditation in English.
See: www.naati.com.au
Business career
For at least one of the five fiscal years immediately before you apply:
* You have maintained direct involvement in either managing a main business in which you (or you and your partner together) had an ownership interest of at least:
o 51 per cent of the business where the turnover is less than AUD400 000 per annum
o 30 per cent of the business where the turnover is AUD400 000 or more per annum
o 10 per cent where the business is a publicly listed company
or
* You maintained direct involvement in managing your (or you and your partner's combined) eligible investments. The total value of that investment was at least AUD1,500,000.
Business experience
You have an overall successful record of eligible investment of qualifying business activity.
You have a total of at least three years experience of direct involvement in managing one or more main businesses or eligible investments.
You have demonstrated a high level of management skill in relation to an eligible investment or qualifying business activity.
Business record
You (or your partner) have never been involved in unacceptable business or investment activities.
Committed to business in Australia
You have a commitment to develop and maintain an ownership interest in a business in Australia and you must maintain direct and continuous involvement in the management of that business.
Net assets
The net value of your (or your and your partner's combined) assets was at least AUD2,250,000 for the two fiscal years immediately before you apply.
Health requirement
You must meet health requirements to enter Australia.
See: Health Requirements
Character requirement
You must be of good character for you to enter Australia.
See: Character and Penal Clearance Requirements
Australian Values Statement
If you are aged 18 years or over, you are required to sign an Australian values statement. The statement is included in your visa application form and all applicants aged 18 years and over will need to sign it to confirm that they will respect the Australian way of life and obey Australian laws. Before signing this statement you are required to have read, or had explained to you, material made available by the government on life in Australia which is contained in the Life in Australia book.
The Life in Australia book provides more information on the values that Australians share and their way of life.
See:
Australian Values - Overview
Life in Australia Book
Application document checklist
The checklist provides all the information and supporting documents that you may be asked to provide with your application.
See: Application document checklist (73KB PDF file)
Family Member Eligibility
Eligible family members
Your family members must meet the following requirements to be eligible for this visa. Evidence of each of the requirements with your application.
You can include the following people in the application for this visa.
* your partner
* your or your partner's dependent children
* other dependent relatives living with you.
Adding family to your application
If your child is born after you lodge your application (but before a decision has been made) the child can be added to your application, once you notify the department of the details of the newborn child.
A partner can not be added to a visa application after it has been lodged but may submit a separate application.
A child born in Australia is deemed to have the same visa as their parents.
Members of the family unit, including a baby born overseas, may submit subsequent applications to join a visa holder in Australia.
Health requirement
All family members must meet health requirements to enter Australia.
See: Health Requirements
Character requirement
All family members must be of good character to enter Australia.
See: Character and Penal Clearance Requirements
Australian Values Statement
All visa applicants who have turned 18 years of age, are required to sign an Australian values statement. The statement is included in the visa application form and all applicants aged 18 years of age and over will need to sign it. Before signing the statement, applicants for this visa are required to have read, or had explained to them, material made available by the government on life in Australia which is contained in the Life in Australia book.
The Life in Australia book provides more information on the values that Australians share and their way of life.
See:
Australian Values - Overview
Life in Australia Book
Before lodging an application, please read all related eligibility requirements.
See: Other eligibility
Eligible family members
Your family members must meet the following requirements to be eligible for this visa. Evidence of each of the requirements with your application.
You can include the following people in the application for this visa.
* your partner
* your or your partner's dependent children
* other dependent relatives living with you.
Adding family to your application
If your child is born after you lodge your application (but before a decision has been made) the child can be added to your application, once you notify the department of the details of the newborn child.
A partner can not be added to a visa application after it has been lodged but may submit a separate application.
A child born in Australia is deemed to have the same visa as their parents.
Members of the family unit, including a baby born overseas, may submit subsequent applications to join a visa holder in Australia.
Health requirement
All family members must meet health requirements to enter Australia.
See: Health Requirements
Character requirement
All family members must be of good character to enter Australia.
See: Character and Penal Clearance Requirements
Australian Values Statement
All visa applicants who have turned 18 years of age, are required to sign an Australian values statement. The statement is included in the visa application form and all applicants aged 18 years of age and over will need to sign it. Before signing the statement, applicants for this visa are required to have read, or had explained to them, material made available by the government on life in Australia which is contained in the Life in Australia book.
The Life in Australia book provides more information on the values that Australians share and their way of life.
See:
Australian Values - Overview
Life in Australia Book
Before lodging an application, please read all related eligibility requirements.
See: Other eligibility
Obligations
You must maintain your designated investment for four years.
Visa conditions
* You must not marry before you enter Australia
* You must enter Australia before anyone else included in your visa application
Note: This means your family members cannot enter Australia before you.
Change in circumstances
If your circumstances change, you must inform the department (in writing) as soon as possible.
See: Form 1022 Notification of Changes in Circumstances (88KB PDF file)
Applying for a permanent Business Skills visa
You may be eligible for a permanent Business Skills visa after holding this visa for a minimum of two (2) years. To be eligible for a permanent Business Skills visa you must meet all the obligations of this visa and additional requirements of the permanent Business Skills visa you apply for. Meeting these requirements may take you longer than two (2) years.
For information about the eligibility requirements for the permanent Business Skills visas.
See:
Investor (residence) (subclass 891)
State/Territory Sponsored Investor (residence) (sublcass 893)
State/Territory Sponsored Business Owner (residence) (subclass 892)
Business Owner (residence) (subclass 890)
You must maintain your designated investment for four years.
Visa conditions
* You must not marry before you enter Australia
* You must enter Australia before anyone else included in your visa application
Note: This means your family members cannot enter Australia before you.
Change in circumstances
If your circumstances change, you must inform the department (in writing) as soon as possible.
See: Form 1022 Notification of Changes in Circumstances (88KB PDF file)
Applying for a permanent Business Skills visa
You may be eligible for a permanent Business Skills visa after holding this visa for a minimum of two (2) years. To be eligible for a permanent Business Skills visa you must meet all the obligations of this visa and additional requirements of the permanent Business Skills visa you apply for. Meeting these requirements may take you longer than two (2) years.
For information about the eligibility requirements for the permanent Business Skills visas.
See:
Investor (residence) (subclass 891)
State/Territory Sponsored Investor (residence) (sublcass 893)
State/Territory Sponsored Business Owner (residence) (subclass 892)
Business Owner (residence) (subclass 890)
Applying for this visa
There are three steps in the application process for this visa. You need to complete each step before progressing to the next.
Step 1 - Notify the state/territory authority
You must notify the relevant state/territory authority of your business intentions.
See: Step 1 - Notify the state/territory authority
Step 2 - Complete and lodge your application
You must complete and lodge your application.
See: Step 2 - Complete and lodge your application
Step 3 - Make a Designated Investment
After you have correctly lodged your application, you must make a Designated Investment.
See: Step 3 - Make a Designated Investment
More information
For additional information on the visa application process.
See: Information form 1025i Making and processing visa applications (64KB PDF file)
There are three steps in the application process for this visa. You need to complete each step before progressing to the next.
Step 1 - Notify the state/territory authority
You must notify the relevant state/territory authority of your business intentions.
See: Step 1 - Notify the state/territory authority
Step 2 - Complete and lodge your application
You must complete and lodge your application.
See: Step 2 - Complete and lodge your application
Step 3 - Make a Designated Investment
After you have correctly lodged your application, you must make a Designated Investment.
See: Step 3 - Make a Designated Investment
More information
For additional information on the visa application process.
See: Information form 1025i Making and processing visa applications (64KB PDF file)
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