Please note that the rules that were in force at the time that you applied for your Significant Investor visa will continue to apply for the duration of your provisional visa, including any Extension stream visas you apply for that relate to that provisional visa.

You must have a genuine and realistic commitment to:

·         reside in the state or territory whose government agency nominated you,

·         continue your business and investment activity in Australia after the conclusion of your provisional visa,

·         live in Australia for at least 40 days per year (calculated cumulatively) for the duration of your provisional visa, or your spouse to live for at least 180 days per year (calculated cumulatively) for the duration of your provisional visa.

You, your partner, or you and your partner combined must have net assets of at least AUD5 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.

You and your partner must not have been involved in unacceptable business or investment activities.

You, members of your family unit aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment.

Income that you earn from your complying investment in Australia is subject to tax under Australian taxation law.

You must also make a complying investment or a complying significant investment of at least AUD5 million over four years.

Important: You might want to seek independent legal advice in relation to ensuring that an investment made for the purpose of this stream is a ‘complying significant investment’. It is your responsibility to ensure your investment options comply.

Complying Significant Investments for applications made after 1 July 2015

If you applied for a Significant Investor visa prior to 1 July 2015, see the rules below, which will continue to apply to you.

For applications made after July 2015 you must make a complying significant investment of at least AUD5 million over four years in the following proportions:

·         At least AUD500 000 in venture capital and growth private equity funds which invest in start-ups and small private companies.

·         At least AUD1.5 million in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.

·         A ‘balancing investment’ of at least AUD3 million in managed funds that may invest in a range of assets, including ASX-listed companies, Australian corporate bonds or notes, annuities and commercial real estate.

Direct investment in residential real estate continues to be prohibited and indirect investment in residential property through managed funds is now strictly limited.

Investments must not be used as security or collateral for a loan.

More detailed information about complying significant investments is available at Austrade.

Complying Investments for applications made prior to 1 July 2015

You must make a complying investment of at least AUD5 million in any of the following options, in any proportion, and hold that investment continuously for at least four years:

·         Commonwealth, state or territory government bonds

·         Eligible managed funds – that are limited to investing in any or all of the following Australian assets:

o    infrastructure projects in Australia

o    cash held by Australian deposit-taking institutions

o    bonds issued by the Commonwealth Government or a State or Territory government

o    bonds, equity, hybrids or other corporate debt in companies and trusts listed or expected to be listed within 12 months on any Australian stock exchange

o    bonds or term deposits issued by Australian financial institutions

o    real property in Australia

o    Australian agribusiness

o    annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995

o    loans secured by mortgages over the investments listed above

o    derivatives used for portfolio management and non-speculative purposes which constitute no more than 20 per cent of the total value of the managed fund

o    other managed funds that invest in the investments listed above

·         direct investment into private Australian companies – in which you have an ownership interest. The company needs to operate a qualifying business if you intend to apply for and meet the criteria for a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream.

 

To meet the South Australian provisional nomination requirements you must:

• Meet DIBP 188 significant investor stream criteria including invest AUD $5,000,000 for four years into any DIBP qualifying investments
• Maintain current contact details with Immigration SA for the duration of your provisional visa.

 

888c

If you are applying for a permanent visa (subclass 888) in the Significant Investor stream, you must have held at the time of application:

• a provisional visa (subclass 188) in the Significant Investor stream or in the Significant Investor Extension stream.

You must have been in Australia as the holder of a provisional visa (subclass 188) in the Significant Investor stream or the Significant Investor extension stream for at least 40 days per year (calculated cumulatively) for the period of time you have held your provisional visa(s), or your spouse has been in Australia for at least 180 days per year (calculated cumulatively) on the basis of the period of time the primary applicant has held their provisional visa(s).

In addition, you (or you and your partner combined) must have:

• held complying investments continuously for at least 4 years while holding your Business Innovation and Investment (Provisional) visa (subclass 188).
• operated a qualifying business under the private Australian company in which you have made a direct complying investment if applicable.
• Note that the rules in force at the time you applied for you original subclass 188 visa in the Significant Investor stream will apply to you when your application for a subclass 888 visa is assessed.

If you applied for your provisional visa (subclass 188) in the Significant Investor stream prior to 1 July 2015, you are eligible to apply for a subclass 888 visa after holding your provisional visa for 3 years and 11 months. If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

 

Significant Investors (nominated after 1 November 2017)

To meet the South Australian nomination requirements you must:

• Hold a provisional significant investor visa nominated by South Australia or a completed release form.
• Meet DIBP 888 significant investor stream criteria. There is no maximum age requirement or points test for this visa.
• Meet the benefit to state requirement by:

1. Demonstrating that the Complying Investment materially benefited the South Australian economy

Or

2. Demonstrating a commitment to live and/or invest in South Australia.

 

Significant Investors (nominated after 1 July 2015 and prior to 1 November 2017)

To meet the South Australian nomination requirements you must:

• Hold a provisional significant investor visa nominated by South Australia or a completed release form.
• Meet DIBP 888 significant investor stream criteria. There is no maximum age requirement or points test for this visa.
• Completed six-monthly surveys issued by Immigration SA during the four-year provisional visa term.
• Meet the benefit to state requirement of your selected option 1, 2 or 3.

Option 1 Local Organisation

• Became a member of an approved ‘local organisation’ for three of the four years and attended six meetings or events.

Option 2: Education

• One of your children has resided and been educated (full time study) in South Australia for two years out of the four

Option 3: Residential property

• Purchased residential property in South Australia to minimum value of AUD $500,000

 

Significant Investors (nominated prior to 23 April 2015)

To meet the South Australian nomination requirements you must:

• Hold a provisional significant investor visa nominated by South Australia or a completed release form.
• Meet DIBP 888 significant investor stream criteria. There is no maximum age requirement or points test for this visa.
• Completed six-monthly surveys issued by Immigration SA during the four-year provisional visa term.
• Meet the benefit to state requirement of your selected investment option 1, 2 or 3.

Investment Option 1 State Government Bonds

• Invest a minimum AUD $1 million in South Australian Government Financing Authority (“SAFA”) bonds each year for four years, either by:

• purchasing SAFA retail bonds directly from SAFA;

or

• investing directly in an ASIC  regulated managed fund which has a mandate for investing its funds solely in SAFA wholesale bonds, or if not solely, the regulated managed fund can demonstrate the minimum AUD $1 million investment in the SAFA wholesale bonds for the required period of four years.

Invest the remaining AUD $4 million for four years into any DIBP qualifying investment.

Investment Option 2: South Australian Propriety Company

• An average of AUD $3 million invested in a South Australian business(es) for two years out of the four and the remainder invested according to DIBP requirements.

Investment Option 3: SA Relationship

• Invest AUD $5 million for four years into any DIBP qualify investment and meet one of the following requirements:
  • Purchased residential property in South Australia to minimum value of AUD $500,000
  • Have one of your children reside and be educated in South Australia for two years out of the four.
  • Become a member of an approved ‘local organisation’ for three of the four years and attend six meetings or events.