The Significant Investor stream (sub 188) visa is the key for those looking to invest in Australia. It allows investors to gain access to the Australian market and take advantage of its many opportunities.
The visa enables people from overseas to stay in Australia for up to 5 years while they carry out investment activity. Furthermore, it enables eligible family members, such as a partner or dependent children, to accompany them during their stay.
Applicants must meet certain requirements, including a minimum investment of AUD 5 million into complying investments. These investments must be held for at least 4 years and monitored by the Department of Home Affairs throughout this period. This is in addition to health, character and English-language requirements that must be met prior to approval being granted.
Things you can do with this visa
The Significant Investor stream (sub 188) is an attractive option for investors looking to start a business, purchase property or invest in the Australian economy. With the visa, successful applicants are allowed to stay in Australia for up to 5 years and can bring members of their families with them. This visa also allows people to participate in investment activities such as commercial real estate investments, venture capital investments and managed fund investments.
The Significant Investor stream (sub 188) provides eligible applicants with the opportunity to make a positive impact on Australia’s economy and gain permanent residency after four years of living and investing there. In addition, they will have access to excellent educational opportunities and healthcare benefits throughout the duration of their stay. Furthermore, holders of this visa can take advantage of Australia’s low taxes while enjoying its high standard of living.
Length
It is valid for up to 5 years to applicants who have been invited by the Australian Government on or after July 1, 2021. If applicants were invited to apply for this visa before July 1 2021, they could stay in Australia for up to 4 years and 3 months.
This visa grants multiple entries, allowing you to leave and re-enter Australia as often as you want while your visa is valid.
Requirements
The Significant Investor stream (sub 188) is an Australian visa program that allows investors to live and work in Australia. It is designed to attract high-net-worth individuals who are willing to make a significant financial contribution to the country’s economy. To be eligible for this visa, applicants must meet a number of criteria:
- They must be nominated by either a State or Territory government agency or Austrade to invest at least AUD5 million into complying investments in Australia.
- Their net personal and business assets must exceed AUD5 million at the time of application and each subsequent year of holding the visa.
- Applicants must be invited by the Department of Home Affairs (DHA) to apply for this visa before lodging their application with DHA.
Processing Time
- 25% of applications: 8 Months
- 50% of applications: 13 Months
- 75% of applications: 17 Months
- 90% of applications: 23 Months
If you are applying for a Significant Investor Visa (subclass 188), there are some key things to keep in mind to ensure your application is processed efficiently. The first is to make sure that the application form is completed correctly. Attaching all the relevant documents and providing detail where it’s required will help speed up processing times.
Failing to include all of the necessary documents or filling out the application incorrectly can result in delays in processing your application, so it’s important that you check everything twice before submitting. These documents may include proof of identity, evidence of financial worth, and any other information that is needed for assessment by immigration authorities.
Costs
The main application fee is AUD9,195 for the primary applicant, plus additional application fees for each family member who applies with them. For each family member who applies with you over 18 years old, there is an additional charge of AUD4,595 and those under 18 years old have to pay AUD2,300.
Applicants who are 18 or older and have less than functional English must be aware that they may need to pay an additional fee on their second instalment.
This second instalment charge for the main applicant is AUD9795 and AUD4890 for family members.
Read more about:
Read more about the streams of Business Innovation and Investment (Sub 188) (Provisional):