+44 0207 193 2327 (UK)
+61 03 9015 7918 (Australia)
+852 8191 5561 (Hong Kong)
Our Australian Immigration Lawyers and Registered Migration Agents are experienced and ethical. We can assist High Net Worth Individual clients in our offices in Melbourne or Brisbane, Australia and in Hong Kong.
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:
Contact VisaConnect's Australian Immigration Lawyers and Migration Agents in 2021 for advice and assistance with your 188C Visa - Significant Investor Stream application for Australian permanent residence!
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 Australian funds.
The Applicant must make a complying investment of at least $5 million AUD for 4 years, in any of the following options, for an application made after the new rules were adopted in July 2015.
See VisaConnect's PDF document: 188C Visa - Significant Investor Stream. See the eligibility criteria for the 188C Visa below:
1. Venture Capital Investment - At least $500,000 AUD in venture capital and growth private equity funds which invest in start-ups and small private companies.
2. Managed Funds Investment - At least $1.5 million AUD in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.
3. Balancing Investment - At least $3 million AUD in 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.
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:
Victoria - State Government of Victoria
New South Wales - NSW Government - NSW Department of Treasury
Queensland - Business & Skilled Migration Queensland
South Australia - Immigration South Australia
Western Australia - Western Australian Business Migration Centre
Australian Capital Territory - Skills Canberra
Tasmania - Tasmanian Government - Migration Tasmania
Northern Territory - Northern Territory Government - Migration NT
See the benefits of applying for the 188C Significant Investor visa, in 2020 below:
No Points Test
No Age Limit
No Qualifications - No education and no business experience required
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 yield
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 entry facility
Visa Extension - Apply for a 188C Extension, if required
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 requirements:
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 Victoria.
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 Victoria.
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.
The following State's /Territories are open for State Nomination:
The following Australian Banks offer private, customized bank accounts for SIV applicants:
A. Westpac Bank - The SIV Flexible Investment Account - This account is Westpac's Private Wealth investment solution for SIV applicants, which includes:
B. ANZ - Private Account - ANZ Private’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.
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 visa.
6. Maintain the Investment - Maintain the complying investments for 4 years
The 188 Visa is a Provisional visa and not a Permanent visa, but the Provisional visa allows Applicants to:
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.
2. Nomination - 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 components).
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 Activities.
8. Intend to Continue your Business activities in Australia.
9. Meet Health requirement.
10. Meet Character requirement.
11. No Debts to the Australian Government.
12. No Visa Cancellation or Visa Refusal.
Provisional 188C Visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic will have the following new arrangements, in place.
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:
Your family members who wish to apply for the Subclass 888 visa must combine their application with your (the 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.