The 188-C Significant Investor Stream Visa is one of the streams of Business Innovation And Investment Visa (subclass 188); the 188-c visa allows the applicant to stay in Australia for up to 4years and three months to the applicants willing to invest $5 million AUD in Australia.
The applicant requires a nomination by the state or territory government agency of Australia to lodge the application. To be able to get nominated, the applicant has to submit an EOI (expression of interest) via SkillSelect for the preferred state or territory.
188-C visa (significant investor visa) can lead you to permanent residency through the Business innovation and investment (permanent) Visa (subclass 888 visa). For applying for a permanent residency visa, the applicant has to maintain the investment for at least four years in the nominated state or territory.
The applicant can apply for the 188-C visa from either outside Australia or in Australia. However, if applying in Australia, the applicant must have to hold a substantive visa or bridging visa A, B, or C.
By applying for a significant investor stream, you are investing your valuable money and migrating to Australia. You must want to know the benefits of investing in Australia. With a Significant investor stream visa, you can:
- No Age limit requirement for a 188-C visa,
- Minimal English Language Proficiency required (IELTS 4.5 bands overall)
- No Qualification requirement.
- The visa processing time for significant investor visas is fast.
- No requirements to meet Points Tests
- The applicant can apply for the extensions at least two times if eligible (2 years extensions each)
- Engage in a new or existing business in Australia
- Can switch the investment from one to another during provisional years.
- Travel and stay in Australia for up to 4 years and three months
- To have eligible family members with you in Australia.
- Apply for a permanent visa 888, if eligible.
- With a lower residence requirement, an applicant can live outside Australia ( should stay in Australia for 40 days per year) to apply for a permanent visa subclass 888.
188-C Significant Investor Visa Stream Requirements
To be applicable for the significant investor stream, you first have to meet the basic 188 visa requirements, and if you are eligible for a 188-C visa, you must meet the criteria below to lodge your application for the significant investor visa.
- Applicant must be nominated by the state or territory government agency of Australia.
- Applicant must make a Complying Investment In Australia of at least $5 million AUD( investment proportions below)
- Applicants must not have a history of involvement in an unacceptable activity.
- An applicant has to meet the Health requirement.
- The applicant has to meet the Character requirement.
- Applicants should sign the Australian values statement.
- Must not have any previous debt to the Australian Government.
- The application should not have been rejected or refused by DHA on a previous visa application.
Applicants must be nominated by a state or territory government agency before getting an invitation to lodge their visa application.
Every state or territory has its requirement. Below are the states providing 188-C visas for the significant investor stream; you can follow the link below to test the requirements according to the state.
- South Australia
- Northern Territory
- New South Wales
- ACT Australian Capital Territory
- Western Australia.
You will be unable to get the 188-C visa if the state or territory government agency that has nominated you withdraws the nomination application.
Complying Investment Requirement:
To be able to get a significant investor visa, when get invited by the state or territory, the applicant must make a complying investment of at least $5 million AUD (by the time or after lodging your visa application). Applicant must have a genuine intention to hold the investment for at least four years in Australia. Applicant must invest in the following proportions:
- At least AUD500,000 in venture capital and growth private equity funds, which invest in start-ups and small private companies.
- At least AUD1.5 million in approved managed funds. These managed funds must be invested in emerging companies it can be used in a variety of range of assets, such as Australian Corporate bonds or notes, companies listed on the Australian Stock Exchange, and annuities and commercial real estate.
- a ‘balancing investment’ of at least AUD3 million in managed funds
The DHA prohibits direct investment in residential real estate. It strictly limits indirect investment in residential property through managed funds.
You must not use investments as security or collateral for a loan.
The Department has provided detailed information about complying with significant investments, which is available at Austrade – Guide to investing.
Unacceptable Activity History:
The Department of Home Affairs will not grant you the visa if you or your partner have a previous history of having any kind of involvement in an unacceptable activity.
The applicant and their partner applying for the Australian visa must meet the health requirement, and your family member might also have to prove evidence of health requirement if The Department of Home Affairs requires it.
The applicant and their partner, and the family members above 16 years of age applying for the significant investor stream have to provide evidence of character requirement. Family members who are not applying might also require to prove the character evidence.
Australian Values Statement:
The applicant and family members who applied for the significant investor stream are 18 years of age or older at the time of lodging the application, and the applicants must have read or had explained to you the Life in Australia book. And sign the Australian values Statement to confirm you will obey the Australian laws and respect the Australian way of life.
Have No Debt to the Australian Government.
If the applicant or family member of the applicant owes the Australian government, the debt must be paid or have an agreement before lodging your application, or else the application will get rejected.
Cancelled or Rejected Visa:
The applicant might not be eligible if they have previously got rejected or refused the visa by the Department of Home Affairs.
Processing Time for 188-C Significant Investor Stream
The time it takes to process your application may vary case-by-case; there is not any standard processing time available for the significant investor stream. But it is observed that processing time for a significant investor visa is quite fast in comparison to other visas. However, your application may get delayed if:
- If the applicant does not complete the form correctly.
- If the applicant did not include all the required documents.
- If the department of home affairs requires more information from you.
- If it takes a longer time for DHA to verify your information.