What is the Significant Investor Stream Subclass 188 Visa?

The Subclass 188 is a temporary visa that allows people to make an investment of at least AUD $5 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 holding the visa for 3 years and 11 months, you will be eligible to apply for permanent residency by the Business Innovation & Investment Subclass 888 Visa.

 

Am I eligible to apply for the Significant Investor Stream of the 188 Visa?

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

  • are nominated by an Australian State or Territory government agency before applying for the visa
  • are able to make minimum of AUD $5 million investment and have a genuine intention to hold that investment for at least 4 years
  • 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 based on the 4 test components
  • 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
  • travel to and from Australia as many times as you want until the validity of your visa expires
  • bring your eligible family with you
  • apply for the Business Innovation & Investment (Permanent) Subclass 888 Visa for the permanent residency

 

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 $7,880

The cost for an additional applicant over 18 years old of the Business Innovation Visa is AUD $3,940

The cost for an additional applicant under 18 years old of the Business Innovation Visa is AUD $1,975

 

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

The Department of Home Affairs assesses applications on a case-by-case basis and processing time can vary for the Investment Stream. Completing application with necessary documents, responding to any requests quickly and providing required information can help expedite the process.

 

Frequently Asked Questions for Significant Investor Stream

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

Yes, 2 years of extension is available. Once you held the 188 Visa, you can apply for the extension 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 Significant Investor and Investor stream of the 188 Visa?

For Significant Investor Visa you don’t need to:

  • Have a suitable skills assessment which requires minimum points pass mark of 65 points
  • Be under 55 years of age
  • Apply for another Visa as the Significant Investor Stream has extension option

 

Why choose Withstand Lawyers for the Business Innovation Visa?

At Withstand Lawyers we have made Business Innovation Visa application process easier and faster for many investors. 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 objectives. Please book a meeting online or call us on 1800 952 901 for professional assistance.

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