This is a five-year temporary visa. Once you have maintained an investment in Australia for the whole of the visa period., you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa. 
 
Besides meeting the common criteria for all the Business Innovation and Investment (subclass 188) stream visas, the applicants must meet the following criterion for the Significant Investor visa to be granted:

• An investment of at least AUD 5 million in a Complying Investment
  
• Have a genuine and realistic commitment to continue your business and investment activity in Australia
  
• You must hold complying significant investments continuously for the life of your provisional visa
• Reside in the state or territory that nominated you

Attractive features:

• No points test
  
• No upper age limit
• The English requirement
• Two years extension is possible

Complying Investment

A "complying investment" for the Significant Investor Visa includes:

• State/Territory government bonds; or...
  
• ASIC regulated managed funds making investment in Australian Assets; or... 
• Direct investment into unlisted Australian companies