What is the Premium Investor Stream, Subclass 188 Visa?

The Premium Investor Stream is a temporary visa that allows investors to make a complying premium investment of at least AUD $15 million in Australia. Once granted the visa, you can live and conduct business activities in Australia for up to 4 years and 3 months. You can either be in or outside Australia when applying and when the decision is made. After maintaining an investment for 1 year, you will be eligible to apply for permanent residency by the Business Innovation & Investment Subclass 888 Visa.

 

Am I eligible to apply for the Premium Investor Visa?

What are the requirements for the Premium Investor Stream? You may be eligible if you

  • are nominated by an Australian State or Territory government agency before applying for the visa
  • your partner or you and your partner combined have at least AUD $15 million of net assets
  • are able to make minimum of AUD $15 million investment and have a genuine intention to continue your investments.
  • do not have any previous visa cancellations and have complied with conditions of your previous visa
  • meet health and character requirements
  • meet functional English language requirements. See below tab for more information on this requirement

 

Functional English Evidence Requirements

You will meet the functional evidence requirement if you meet one of the following:

  • hold a valid passport issued by the United Kingdom, the United States of America, Canada, New Zealand or the Republic of Ireland
  • Your English has been assessed as functional by an Australian Adult Migrant English Program service provider
  • You completed a degree, a higher degree, a diploma or a trade certificate in an institution in or outside Australia that required at least 2 years of full-time study in English
  • you undertook your education at:
  • Institution: a primary school and secondary school where all instruction was in English in or outside Australia
  • Study Time: All years of primary and at least 3 years of secondary study
  • Institution: a secondary school in or outside Australia where all instruction was in English
  • Study Time: At least 5 years of study
  • Institution: an institution in Australia where all instruction was in English
  • Study Time: At least 1 year of full-time study towards an award
  • Institution: an institution in Australia where all instruction was in English Study Time: The part-time equivalent of 1 year of full-time study towards an award

 

  • in the 12 months before you applied for the visa, you scored one of the following:
  • IELTS: An average band score of at least 4.5
  • TOEFL iBT: A total band score of at least 32 based on the 4 test components of speaking, reading, writing and listening
  • PTE Academic: An overall band score of at least 30 for each of the 4 test components
  • CAE: An overall band score of at least 147 for each of the 4 test components

 

What are the benefits of the 188 Visa?

With the Business Innovation and Investment (Provisional) Visa (Subclass 188) you can:

  • stay and carry out your investment activities in Australia for up to 4 years and 3 months
  • apply for a permanent residency visa in 12 months
  • travel to and from Australia as many times as you want until the validity of your visa expires
  • bring your eligible family members with you

 

What are the costs of the 188 Visa?

The Department of Home Affairs visa cost for the main applicant of the Business Innovation and Investment (Provisional) Visa is AUD $9,455

The cost for an additional applicant over 18 years old of the Business Innovation Visa is AUD $4,725

The cost for an additional applicant under 18 years old of the Business Innovation Visa is AUD $2,365

 

How long does it take to get the Investment Stream of the 188 Visa?

The Department of Home Affairs assesses applications on a case-by-case basis and there is not a standard processing time for this stream. Completing application with necessary documents, responding to any requests quickly and providing required information can help expedite the process.

 

Frequently Asked Questions for Premium Investor Stream

Can I extend the Premium Investor Stream of the 188 Visa?

You cannot extent the Premium Investor Stream of the Business Innovation and Investment (Provisional) Visa. You can apply for the Premium Investor Stream of the Business Innovation & Investment (Permanent) Subclass 888 Visa for the permanent residency 12 months after you grant your visa.

Can I include my family members to Australia on the 188 Visa?

Yes, you can include your family members when you apply or any time before a decision is made.

What is the difference between Premium Investor and Investor stream of the 188 Visa?

For Premium Investor Visa you don’t need to:

  • Fast-track pathway for permanent residency after 12 months
  • Have a suitable skills assessment which requires minimum points pass mark of 65 points
  • Be under 55 years of age

 

Why choose Withstand Lawyers for the Business Innovation Visa?

At Withstand Lawyers we have made Business Innovation Visa application for many investors which are led to Australian citizenship. Our firm specialises in immigration law and has experienced legal professionals and resources required to provide you with the guidance and representation that is needed to ensure you reach your business and life goals. Please book a meeting online or call us on 1800 952 901 for professional assistance.

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