The 188-D premium investor stream visa is for the wealthy applicants who are nominated by Austrade and want to invest at least $ 15 million AUD into complying investment in Australia. It is a temporary visa that can lead you to a permanent residency by 888 visas.
The visa allows the applicant to travel in and out of Australia for up to 4 years three months, and after maintaining the investment for a year, an applicant can apply for a permanent residency via Business Innovation and Investment (permanent resident) subclass 888 visa, if eligible.
The visa can be applied either in Australia or outside Australia. However, while applying in Australia, the applicant must be holding a substantive visa or bridging visa A, B, or C.
By applying for a 188-D premium 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 Premium investor stream visa, you can:
- No Age limit requirement for a 188-D visa,
- Minimal English Language Proficiency required (IELTS 4.5 bands overall)
- No Qualification requirement.
- Fast-track visa processing time for premium investor visas.
- No requirements to meet Points Tests
- 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.
- No resident requirement to apply for a permanent residency visa.
- Apply for a permanent visa 888, if eligible.
- Fast-track permanent residency pathway within 1 year (12 months).
188-D Premium Investor Visa Stream Requirements
To be applicable for the 188-D premium investor stream, you first have to meet the basic 188 visa requirements, and if you are eligible for a 188-D visa, you must meet the criteria below to lodge your application for the premium investor visa.
- Applicant must be nominated by the state or territory government agency of Australia.
- Applicant must have received the invitation by Austrade to apply.
- English Langauge proficiency requirement.
- Applicant must make a Complying Investment In Australia of at least $15 million AUD( investment proportions below)
- Applicant must provide evidence of having at least $15 million AUD net assets.
- Applicants must not have a history of involvement in an unacceptable activity.
- Agreement to not bring any action against the commonwealth.
- 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 prior visa application.
Applicants must be nominated by Austrade before getting an invitation to lodge their visa application. The Austrade must not withdraw their nomination of the applicant after they apply, else the applicant will be unable to get a visa.
Invitation To Apply:
The applicant must submit an EOI ( expression of interest); you will be nominated if Austrade invites you to apply for the visa. Unsolicited expression of interest will not be acceptable by Austrade, and you can learn more about the 188-D premium investor program from Austrade.
Complying Investment Requirement:
Before your visa has been grant, the applicant should make an investment of at least $15million AUD in a complying premium investment. You have to invest in any of the following options:
- Australian securities exchange listed assets
- Australian Government or semi-government bonds or notes
- corporate bonds or notes issued by an Australian exchange listed entity
- A wholly-owned subsidiary of the Australian listed entity, investment-grade rated Australian corporate bonds or notes rated by an AFS licensed debt rating agency.
- Australian proprietary limited companies
- real property in Australia excluding residential property
- deferred annuities issued by Australian registered life companies
- state or territory government approved philanthropic contribution
To be an eligible fund, a further requirement is that cash is to be no more than 20% of a fund’s net assets and derivatives are to be used for risk management purposes only.
188-D Premium investors may elect to make a portion or the entirety of their investment by way of a philanthropic donation (endorsed by a state or territory government.
Applicant must not make their complying premium investment before submitting a visa application. Once the visa application has been lodged, if DHA is satisfied and you meet other criteria for the grant of the visa, the applicant will be invited to make a complying premium investment.
Net Assets Evidence Requirement:
Applicant must have to show evidence of having net assets of at least $15 million AUD. These assets must belong to the applicant, their partner, or both combined. The assets must be acquired legally, unburdened, and easily accessible to invest in Australia.
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.
Agree Not to Bring Any Action Against Commonwealth:
The applicant has to be agreed on not to bring any action against the commonwealth for any loss to the applicant or the complying premium investment, and this requirement also applies to the applicant’s family members over 18 years of age applying for the visa with the main applicant.
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 Premium 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 Premium 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.
Suppose the applicant or family member of the applicant owes the Australian Government. In that case, 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-D Premium 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 Premium investor stream. But it is observed that processing time for a Premium investor stream visa is quite fast in comparison to other investor streams. 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.