188C VISA - SIGNIFICANT INVESTOR STREAM
Table of Contents
Australian Lawyers and Migration Agents - 188C Significant Investor Visa Advice
Our Australian Immigration Lawyers and Registered Migration
Agents are experienced and ethical. We can assist High Net Worth Individual clients
in our offices in Brisbane, Australia, Singapore, Hong Kong, London, UK and Lisbon, Portugal.
In addition our Australian qualified Lawyers can advise clients worldwide, with a fast and
efficient Consultation by telephone or skype where they advise you about:
- Visa eligibility assessment
- Information about the visa process and Residency requirements
- Advice regarding Source of Funds requirements
- Advice regarding supporting documents including: Business and Investment
financial statements and Identification
- Preparation of a Statement of Assets and Liabilities
- Advice regarding State or Territory 188 A, B or C Business or Investor
- Advice regarding types of complying investments and referral to an Investment
- Assistance with Business Plan for purchase of new or established business and
- Assistance in opening an Australian Bank account and guidance regarding
international funds transfer
- Assistance in completion of Dept of Home Affairs Expression of Interest and
Visa Application forms
- Advice regarding how to apply for Police Clearance certificates
- Preparation of Medical examination and Chest x ray referral letter and advice
where to undergo health checks
- Visa Processing time guidance
- Information about the Government Visa Application fee and Migration
Agent/Lawyer's fees for complete visa application assistance
Contact VisaConnect's Australian Immigration Lawyers and
Migration Agents in 2022 for advice and assistance with your 188C Visa -
Significant Investor Stream application for Australian permanent residence!
Eligibility Criteria - Significant Investor Stream - 188C Visa
The purpose of the 188C Significant Investor Visa is to contribute
to Australia's economy and increase economic stimulus and activity, growth, jobs
and investment in different industries, by making a substantial investment in
The Applicant must make a complying investment of at least $5
for 4 years, in any of the following options, for an application
made after the new rules were adopted in July 2015, and then further revisions were made on 1 July 2021. See VisaConnect's PDF document:
Visa - Significant Investor Stream in 2022 (opens new window)
. See the eligibility criteria for the 188C
1. Venture Capital Investment
- At least $1 million AUD
in venture capital and growth private equity funds which invest in start-ups and
small private companies. Note that from 1 July 2021, the Venture Capital and Private Equity investment has been
increased from 10 to 20 per cent.
1.A. Venture Capital Investment - State of Victoria
- Those nominated under the Significant Investor visa streams are permitted to invest in all registered, eligible Victorian Venture Capital funds.
All Victorian Venture Capital Limited Partnerships (VCLP) and Early Stage Venture Capital Limited Partnerships (ESVCLP) that are either registered or conditionally registered with the Department of Industry,
Science, Energy and Resources are now eligible complying investments. This applies to all nominated for a Significant Investor (188C) visa on or after 1 July 2021.
2. Managed Funds Investment
- At least $1.5 million
in approved managed funds investing in emerging companies listed on the
Australian Stock Exchange. Note that after 1 July 2021, the investment in this element will require a further 30 per cent
dedicated to emerging companies.
3. Balancing Investment
- At least $2.5 million AUD
managed funds that may invest in a range of assets, including ASX-listed companies,
Australian corporate bonds or notes, annuities and commercial real estate and hold
the investment continuously for at least 4 years. Note that after 1 July 2021, the balancing investment
element has been reduced from 60 to 50 percent.
- Real Estate - Direct investment in residential real
estate is prohibited and indirect investment in residential property through
managed funds is limited to about 10%
- Residency Requirements - The Applicant must live in
Australia for at least 160 days over 4 years
- Business Activities - No Previous Involvement in
Unacceptable Business Activities
- Source of Funds - The funds used for the SIV 188C
investment must be unencumbered and lawfully acquired
- Health and Character - Meet the Character requirement
and undergo a medical examination
- State/Territory Nomination - The Applicant must
genuinely intend to live in the State/Territory where the Government Agency
nominated them, make a contribution to the State/Territory's economy, and
continue their business investment activity after the complying investment
matures. The Applicant can apply for Nomination to:
- State Government of Victoria
New South Wales
- NSW Government - NSW Department of
- Business & Skilled Migration
- Immigration South Australia
- Western Australian Business Migration
Australian Capital Territory
- Skills Canberra
- Tasmanian Government - Migration
- Northern Territory Government -
Benefits of SIV Visa - Significant Investor Stream
See the benefits of applying for the 188C Significant Investor
visa, in 2022 below:
- No Points Test
- No Age Limit
- No Qualifications - No education and no business
- Minimal English Language Ability - If the Applicant or
family members have virtually no English ability, they can still apply. Just
require "functional' English language ability (IELTS 4.5 Score)
- Family Members - Applicant can include Family unit
members, and dependent children in the application
- Mixture of Investments - The Applicant can invest in a
combination of investments, based on preference, interest rate and high
- Switch Investments - The Applicant can switch from one
Investment to another complying investment during the Provisional visa
- Live, Work, Study and Make Investments in Australia -
After the 188C Provisional visa is granted
- Processing Time - Fast visa processing time
- Visa Valid for 4 Years and 3 months - with multiple
- Visa Extension - Apply for a 188C Extension, if
Requirements for Victoria State Nomination - 188C SIV Visa
To be eligible for Victoria State Nomination, the
Applicant/Investor must meet the Department of Home Affairs investment
requirements, as listed above, and also meet the Victorian Government
1. Investment Makes a Contribution to Victoria
- The Venture Capital and
Growth Private Equity investment is actively sourcing investment in Victoria or the
fund provider has an office in Victoria. In addition, the investment in 'Emerging
companies' and 'Balancing investment' must prove that Victorian investments are
included in the selected investments and the fund provider has an office in
2. Sufficient Funds to Settle in Victoria
- The applicant investor and their
dependents must have available no less than $200,000 AUD to settle in
3. Genuine Intention to Live in Victoria
- The applicant and family members
must have a genuine and realistic commitment to reside in Victoria and continue to
contribute to Victoria through investment activity.
4. Agree to Victoria's Nomination Obligations
- Confirmation of Victoria's
obligations and requirements to maintain the complying investments.
Application Process - Victoria
To apply for the Victorian Significant Investor stream (subclass 188C) visa nomination Applicant's must:
- Make an Expression of Interest with SkillSelect.
- Prepare Evidence to support your application
- Review the Supporting Information
- Submit a nomination application via the Live in Melbourne portal. There is No Cost for a Victorian State Nomination application.
- Respond to any requests for further information, within 2 weeks. The Processing time for Victoria State Nomination is currently 10 business days.
- Stay in Australia for up to 5 years on the 188C Visa, and can apply for Permanent residence after 3 years on the 188C Visa.
State/Territory Nomination - Open in 2022 - Subclass 188C Visa
The following State's /Territories are open for State
- VICTORIA - OPEN - The Victorian Government's
Skilled and Business Migration program will be accepting new nomination
applications for the subclass 188 visa after 5pm (AEST) Monday 31 May
2021. This will enable the Victorian Government to assess all subclass 188
nomination applications submitted before the Department of Home Affairs makes
changes to the Business Innovation and Investor Visa requirements on 1 July
- NSW - OPEN - Applications for NSW nomination open on 20 September 2021.
- QUEENSLAND - OPEN - State nomination for this visa is managed by the
Queensland Government through Business and Skilled Migration Queensland (BSMQ) in
collaboration with the Australian Government's Department of
Home Affairs (HA).
- WA - OPEN - Due to COVID-19, WA is conducting all interviews with
clients by telephone. Personal appointments will also be replaced by telephone
interviews at the Western Australian Government Trade Office in Shanghai until
- TASMANIA - OPEN - Migration Tasmania is seeking interest from high
calibre business investors who can make a significant contribution to
- SA - OPEN - The 188 visa is for business owners and investors who want
to establish a business, or invest, in South Australia.
- NT - OPEN - Australia's Northern Territory (NT) Government targets
genuine, high calibre applicants who are willing to invest and do business in the
NT. The prime factor considered for approval of NT nomination is the long-term
benefit to the NT economy. The Australian Government allocates a limited number
of Business Innovation and Investment nominations to the NT.
- ACT - OPEN - The Australian Government has directed that ACT
nominations focus on high quality applications that will have economic benefit to
the ACT in the post pandemic recovery phase.
Bank Accounts - SIV 188C Applicants
The following Australian Banks offer private, customized bank
accounts for SIV applicants:
A. Westpac Bank - The SIV Flexible Investment Account
account is Westpac's Private Wealth investment solution for SIV applicants, which
B. ANZ - Private Account
- A relationship management service, with multilingual private bankers
- A comprehensive range of banking and wealth services
- An experienced team, and dedicated investment specialist
- An account which can be used to invest in a wide range of complying
- Unique investment solutions
- ANZ Private Account's
specialist team can provide SIV applicants with all their banking and investment
needs to assist them to meet the visa requirements. That includes access to a range
of professionally managed investments that comply with SIV criteria and assistance
with settling your family into the Australian lifestyle.
C. National Australia Bank - NAB Private Account
- To open a
NAB Private Account, the applicant must have an annual income of at least $400,000
AUD and investable assets of $1 million AUD outside the family home. NAB Private
offers: Relationship banking, Tailored banking solutions, Global markets access,
Wealth and Investment advice and Trusts and Philanthropy.
Application Process - Significant Investor Stream
The 188C Visa application process is as follows:
1. Expression of Interest
- Submit an Expression of Interest
for the 188C Visa and Nominate your State/Territory.
2. Invitation to Apply for Visa
- Receive Invitation to
apply for 188C SIV Visa from State/Territory Government. Applicant must apply for
SIV Visa within 60 days.
3. Apply for 188C Visa
- Make a formal application for the
Significant Investor Visa, with supporting documents.
4. Make Investment of $5 million AUD
- Make the investment
of $5 million AUD within the timeframe stipulated by the Case Officer.
5. 188C Provisional Visa is Granted
- The Applicant can
switch from one Investment to another complying investment during the Provisional
6. Maintain the Investment
- Maintain the complying
investments for 4 years.
Entitlements after Visa is Granted - 188C Visa
The 188 Visa is a Provisional visa and not a Permanent visa, but
the Provisional visa allows Applicants to:
- Manage and undertake investment activity in Australia
- Multiple entry travel to Australia. Permitted to enter and remain in
Australia for up to 4 years and 3 months
- Bring eligible members of your family with you, who were included in your 188
Visa application as secondary applicants (eg. Spouse and Dependent children)
- Apply for a permanent Business Innovation and Investment (Permanent) visa
(subclass 888) Significant Investor stream if the specific requirements of the
188 Visa are met
888 Visa - Eligibility Criteria - Business Innovation and Investment (Permanent)
After 4 years of maintaining your 188C Investment, an applicant may
be eligible to apply for the 888 Visa for Australian Permanent residence, provided
they meet the following eligibility criteria:
1. Hold the 188C Visa
- Primary or Secondary visa holder of
a 188C Visa - Significant Investor Stream.
- The State or Territory Government must
confirm that your Nomination is still current.
3. Maintained Complying Investment
- The applicants must
have held their complying investment of $5 million AUD for at least 4 years and
have notified the Department of Home Affairs regarding transfers of any investments
to another investment.
4. Complied with Australian Laws
- laws regarding taxation,
superannuation and employment relations.
5. Functional English
- The primary and secondary applicants
must prove that they have functional English (IELTS 4.5 for each of the 4 test
6. Residence requirement
- The Primary Applicant must have
been in Australia for at least 160 days cumulatively in 4 years or the Applicant's
Spouse must have been in Australia for at least 180 days per year cumulatively, in
a 4-year period.
7. Not been Involved in Unacceptable Business
8. Intend to Continue your Business activities in
9. Meet Health requirement.
10. Meet Character requirement.
11. No Debts to the Australian Government.
12. No Visa Cancellation or Visa Refusal.
COVID-19 Concessions for 888 Visa
Provisional 188C Visa holders who may have been disadvantaged as a
consequence of the COVID-19 pandemic will have the following new arrangements, in
From 19 September 2020
until 3 months after the end of the
COVID-19 concession period, you can also
apply for the Subclass 888 visa if you:
- held a Business Innovation and Investment (Provisional) visa (subclass 188)
Significant Investor stream or Significant Investor Extension stream which
expired during the COVID-19 concession
period, and or
- were the secondary visa holder of a Business Innovation and Investment
(Provisional) visa (subclass 188) and:
Your visa expired during the COVID-19 concession period, and
You have ceased to be the spouse or de facto partner of a primary holder
of a Business Innovation and Investment (Provisional) visa (subclass 188) in the
Significant Investor stream or the Significant Investor Extension stream, or that
person has died.
Your family members who wish to apply for the Subclass 888 visa
must combine their application with your primary
applicant's application. The family members do not need to hold
a Business Innovation and Investment (Provisional) (subclass 188) visa.
'COVID-19 Concession Period'
- commences from 1 February
2020 and is an interim arrangement, until the Department of Home Affairs states
that it ends.
Travel Ban Exemption for 188C Visa Holders
a Covid-19 Travel ban has existed since March 2020, there has also been an
exemption in place for holders of the Business Innovation and Investment
(Provisional) (BIIP) (subclass 188) Visa, from end of August 2020, which has had an
"automatic exemption" on par with Australian citizens and permanent residents. This
means that Australia does not have a Covid-19 travel ban for Applicants that have a
188 Visa Granted, including the 188A, 188B, 188E and 188C Significant Investor
Prior to August 2020, Individual BIIP visa holders were still able to apply for an
individual exemption of the travel restrictions.
The Australian Border Force (ABF), was asked by the COVID-19 Select Committee why
such visa holders were granted an exemption when others, such as holders of the
Prospective Marriage (subclass 300) visa, have not been extended the same
privilege. "The Business Innovation and Investment Program targets migrants who
have a demonstrated history of success or talent in innovation, investment, and
business, and are able to make a significant contribution to the national
innovation system and the Australian economy," the ABF said in response.
"The value of the BIIP program to Australia's economic recovery is clear through
its focus on: Establishing and developing new and existing businesses,
[commercialising] products and services and establishing high value businesses, and
investment and job creation in the Australian economy."
As at 14 September 2020, there were 10,591 Business Innovation and Investment
(Provisional) visa holders outside of Australia, who are now exempt from the travel
ban and able to travel to Australia.
Exempt categories for Travel to Australia during Covid-19
Applicant's are automatically exempt from the travel restrictions and can enter Australia (without obtaining an individual exemption) if they are:
- An Australian Citizen
- A Permanent Resident of Australia
- An immediate Family member of an Australian citizen or Permanent Resident
- A New Zealand citizen usually resident in Australia and their immediate family members
- A person who has been in New Zealand or Australia for 14 days or more immediately prior to arrival by air in Australia
- A Diplomat accredited to Australia, including their immediate family members (each member of the family unit must hold a valid subclass 995 visa)
- A person transiting Australia for 72 hours or less
- Airline crew, maritime crew including marine pilots
- A person recruited under the Government approved Seasonal Worker Program or Pacific Labour Scheme
- A person who holds a Business Innovation and Investment (subclass 188) visa
188A, 188B, 188C and 188E - Business Innovation and Investment Visa Advice and Assistance
Office Address and Telephone - VisaConnect Australia
Contact VisaConnect's Consultants at our Brisbane, Queensland, Australia office below:
VisaConnect - Qld, Australia
Level 1, 16 McDougall Street,
(+61) 7 3040 9589
Useful Links - 188C Visa