
Yes. Your first entry must be on or before the date in your grant letter, generally 12 months from grant. If you miss it, the visa ceases.
Even though the PEV is permanent, there is a first-entry deadline. Your first arrival in Australia must be on or before the date specified in your visa grant notification letter, which is generally about 12 months from the date the visa is granted.
If you do not enter Australia before that date, the visa will cease and you will no longer be able to travel to Australia as a permanent resident. Once you have made your first entry, you can travel in and out for 5 years while the travel facility remains valid; after that you would need a Resident Return visa.
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