There are currently no allocations from the Australian government for business visas in the 2023 - 2024 program year. So this is currently not doable.
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How can I enter Australia on a short-term tourist visa then convert it to the significant investor visa while inside the country?
Is this doable? If so, what steps would I need to follow?
Answers
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Of course you can! Usually, the obstacle is the evidence for the Significant Investor Visa, which must be prepared meticulously regardless of where you are. Tourist Visa is easy to prepare if you have voluminous assets and investment track records to show. Therefore, it is very easy and doable.
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There are no places allocated for subclass 188 visa including significant investor visa for the current financial year. Therefore, you need to wait for further announcement by the Australian government on this before you apply for the same. Although you can be in or outside Australia when you apply for the visa and when DHA decides on your application, it should be noted that you must submit an Expression of Interest (EOI), be nominated by a State or Territory government agency, or Austrade and then be invited to apply. It could be very difficult to complete all these procedures and also be invited for visa when you are on a short stay tourist visa in Australia.
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At this time there are no new applications for the Significant Investor visa (SIV). However if you have previously applied for this visa, and you held a substantive visa (for example a visitor visa) for Australia at the time the SIV was lodged, then you can get a bridging visa to remain in Australia while the SIV is being processed. This bridging visa (BVA) will also allow work rights. When you are in Australia on a visitor visa, provided the above requirements are met, you can make an application for a Bridging Visa A which will allow you to live and work in Australia until the SIV is granted. The SIV can be granted when you are in or outside Australia.
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