Based on the information you provide in the EOI, SkillSelect will estimate a points score and rank you against other intending migrants.
If you are ranked high enough and there are places available for your nominated occupation, you will be invited to apply for the visa. You might receive an invitation any time up to two years after you submit your EOI.
If you are invited, you have 60 calendar days to apply for the visa.
If you are in Australia and your current visa is about to expire, you must apply for another visa to stay in Australia. You are not eligible for a bridging visa because an EOI is not a visa application. You are only eligible for a bridging visa after you are invited to and apply for this visa.