Applicants need to lodge an Expression of Interest, but there is no upper age limit, no points test and no need to demonstrate a successful career and involvement in the day to day management of business or investment.
However, premium investor applicants can be nominated only by Austrade on behalf of the Australian government and only by a way of invitation. Austrade applies highly selective criteria in determining who is invited and as of the end of 2018 there were no invitations in this stream yet.
Although, there is no residence commitments, applicants still need to have a genuine intention to hold their investment for the the duration of their visa except any philanthropic contributions. Neither the main applicant nor their spouse or de facto partner could have involvement in business activities that are generally not acceptable in Australia.
- Make a complying investment of at least AU$15 million
- Hold a complying investment for the duration of their visa
- Violations of government laws
- Criminal convictions relating to business
- Disregard of licensing and regulations
- Fraudulent trade practices
- Australian Securities Exchange (ASX) listed assets
- Government, semi-government or corporate bonds or notes
- Australian proprietary limited companies
- Real property in Australia
- Deferred annuities issued by Australian registered life companies
- Philanthropic donations approved by state/territory governments
- Maximum investment switching period of 30 calendar days
- No direct investment in residential real estate
- 10% limit on residential real estate investment through managed funds
There is no strict English language requirement, however, all applicants and any dependants over the age of 18 years old, who are not able to demonstrate Functional English language ability, must pay the 2nd visa application charge (VAC).
- At the time of invitation, applicant, partner or both parties combined must have total net business, investment and personal assets of at least AU$15 million that are lawfully acquired and available to make the complying investment.
- Illegal activities
- Tax evasion
- Readily transferred at any time, e.g. cash, current bank deposits, stock, shares, personal possessions
Applicants can apply for permanent visa after 12 months of holding their provisional visa and maintaining complying premium investment. They must have a current Austrade nomination and realistic commitments to continue business or investment activities in Australia.
The applicant and their spouse or de facto partner must have a satisfactory record of compliance with the laws of the Commonwealth and of the State or Territory in which they reside.
There is no strict English language requirement, however, secondary applicants over the age of 18 years old, who do not have Functional English language ability and have not previously paid the 2nd VAC, must pay the 2nd VAC.