An Overview of Subclass 893 or State or Territory Sponsored Investor Visa

January 9, 2024    Migration Lawyer Perth
An Overview of Subclass 893 or State or Territory Sponsored Investor Visa

State or Territory Sponsored Investor Visa Subclass 893

Few countries accept and invite budding and seasoned professionals and migrant workers into their employment pool, like Australia. Australia has one of the lowest global unemployment rates among graduates. 64.60% of its graduates are employed with lucrative workers’ benefits.

As a result, hundreds of thousands of business owners, investors, and entrepreneurs apply for State or Territory Sponsored Investor Visa subclass 893.

Read Also – Application Process for Investor Visa Subclass 891

What is a Territory Sponsored Investor Visa?

This is a permanent visa for individuals who own, sponsor or manage any business in Australia. This Visa allows the individual to live in Australia indefinitely. However, that is only part of this Visa’s benefits.

What does the State Sponsored Investor Visa Subclass 893 allow you to do?

Apart from residence, there are many other benefits to the State Sponsored Investor Visa. The allowances are listed as follows:

  • This Visa allows an individual to live in Australia for an indefinite period.
  • It allows owners and investors to continue their business in Australia.
  • It allows for the relatives and family members of the individual to travel to Australia.
  • It grants access to Medicare, public healthcare facilities, and schemes.
  • It allows travel to and from Australia for 5 years.
  • In certain eligible cases, it grants the owners permanent citizenship.

Eligibility criteria for Subclass 893

Considering the benefits and the degree of permissibility granted by the State Sponsored Investor Visa, several eligibility criteria must be met for its acquisition:

1. An individual can apply for this Visa if they are already a primary holder of a Territory/State Sponsored Investor Visa (Subclass 165), a provisional visa.

2. Meeting the following business requirements:

  • Having held business for at least 4 years, in either the individual or their partner’s name.
  • Have an investment of AUD 750,000 being made in the business for the acquisition of State Sponsored Investment Visa (Subclass 165).
  • Showing consistency and genuine interest in conducting business in Australia.
  • Having clean and ethical records of business conduct and management.

3. The applicant must be sponsored by a regional authority in the territory of their residence. They must have lived in that area for at least 2 years in the 4 years of their business holding before they can apply for this Visa. This 2-year period, however, does not need to be continuous.

4. There is no upper cap for age.

5. The individual must meet basic health requirements. This extensive health examination of people who come from countries with risk of diseases like polio and Ebola that are a threat to public health and signing of health waivers.

6. They must have no remaining debut to the Australian government.

7. They must not have any previous records of refused or cancelled visas. The individual’s immigration history is an important factor for the State Sponsored Investment Visa.

8. They must meet applicable character requirements.

9. They must sign an Australian value statement. This entails confirmation of the fact that the person will respect Australian laws and ways of life.

10. The individual must not be in any de facto relationship that they are yet to disclose before visa application.

Approximate Application Cost for Subclass 893

The approximate cost that applicants must foot for the acquisition of a State Sponsored Investor Visa
(Subclass 893) is between AUD 2450 and AUD 2810.

How to Apply for Subclass 893 – Application Process

Once the above-mentioned criteria are met, you can apply for the Investor Visa (Subclass 893). The following points elucidate the step-by-step process:

1. Acquire sponsorship from a regional authority in the territory or state where the individual has resided for at least 2 years in the required 4 years of conducting business.

2. Compile necessary documents authenticating the business and personal identity. In the case of family members applying with the individual, their documents must also be produced. These documents include:

A. Main documents:

Identity proofs, photo, application periods following the same date, residential documents, proof of investment, summary and report of business and investments in Australia conducted so far and plan long-term, business history, and ethical records.

B. Partner’s documents:

Identity proof, marriage certificate if applicable, proof of other relationship, if applicable.

C. Documents of dependants under 18:

Identity proofs and parental responsibility documents

D. Documents of dependents over 18:

Identity proof, and documents about any other relationship, if applicable.

E. Proof of English proficiency and functional English

F. Character Documents: Police certificates, military certificates, if applicable.

G. Notify authorities about the process through correspondence.

3. Sending the application:

The applicant must be physically present in Australia when they send their application papers. Their family can be outside of Australia. However, they must not be going through immigration clearance.

4. Waiting for application confirmation:

After application, the individual must wait to be notified about their application and further steps.

5. Visa outcome/acquisition:

The individual must be in Australia when their State Sponsored Investor Visa (subclass 893) is granted.

How long does this visa take to process?

The maximum processing time for this visa is 38 months. However, depending on the specificity of the individual’s application and documents, it can be approved much earlier.

How can this process be made easier?

Missing documents, inadequate reports, and misprints are oversights that can happen to anyone during the stressful and extensive process of applying for a State Sponsored Investor Visa (Subclass 893).

When you send in that application, it must present your best case at permanent residence for you, your family, and your business. One of the easiest ways to make the application process smoother is to hire a top investor visa lawyer in Perth to help your case and improve your chances.

Having a lawyer go through your visa application can help spot faults and potential deterrents early, which would otherwise hinder your chances of permanent residency.

We recommend Migration Lawyers in Perth who are most equipped and proficient in this field. With the professional assistance of the best investor visa lawyer Perth, getting a green light on your State or Territory Sponsored Investment Visa (Subclass 893) is easier than ever. Contact the team to live your best business life in the land down under.

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