Key changes from 1 July 2021 include:
* Business and personal assets requirement increased from AUD2.25 million to AUD2.5 million.
* Investment in Australia requirement increased from AUD1.25 million to AUD2.5 million and the type of investment changed from designated investments (Australian State or Territory bond) to complying significant investments (funds in specified proportions).
Who is 188B Investor Visa suitable for?
188B Investor visa is suitable for applicants with investment experience. Investment experience can be gained from either owning and managing a business or having a portfolio of investments in various investment products. To be eligible for Investment permanent visa 888B, the 188B visa holder must use their investment proceeds and invest in complying significant investments. You can check the eligibility requirement of the 188B Investor visa below.
There are a few key benefits of a 188B Investor Visa. It requires a low investment amount of AUD1,500,000 compared to 188C (AUD5,000,000).
188B Main Eligibility
- Requires invitation to apply for the visa
- Be less than 55 years old (exemption applies)
- Has at least 65 points for the Expression Of Interest
- Has overall a successful record of eligible investment activity or qualifying business activity
- For qualifying business, owns at least 10% of the total value of the business for at least 1 of last 5 fiscal years
- For eligible investments, managed at least AUD1,500,000 in total net value
- Has at least 3 years experience of direct involvement in managing one or more qualifying business or eligible investments
- Has demonstrated a high level of management skills
- Has at least AUD2,500,000 business and personal assets for at least last 2 years
- Invests at least AUD2,500,000 in complying significant investments
- Genuine intention to maintain business or investment activity in Australia after the investment matures
- Genuine intention to reside for at least 2 years in the nominated State or Territory
188B Main Conditions
- For offshore applicants, first entry must be made before the date specified by the Minister
Main Eligibility for Permanent Resident Visa
- Be in Australia for at least 2 of the 3 years immediately before applying for Subclass 888 visa
- Has held 188B visa for at least 3 years
- Have held your AUD1.5million investments for at least 4 years
Did you Know this for 188B?
- 188B Investor eligible investments can include stocks and bonds, managed funds, and real estates
- Your family home is for personal use, therefore, cannot be considered an eligible investment. It can, however, be considered for your assets owned
188B Investor Additional Information
|Stay||Up to 5 years with pathway to Business Innovation and Investment (Permanent) visa subclass 888 which is a permanent visa|
|Cost||AUD6,085 for primary applicant|
AUD3,045 for additional applicant over 18 years
AUD1,520 for additional applicant under 18 years
If applicant does not have at least Functional English, they are required to pay the second instalment charge as follows:
AUD9,795 for primary applicant
AUD4,890 for secondary applicant over 18
|Processing Time||75% of applications: 33 months|
90% of applications: 34 months
You and your family members may be required to take a health examinations to meet the health requirement to show that you are free from any disease or condition that is:
- a significant healthcare and community service cost to the Australian community
- likely to limit the access of Australian citizens and permanent residents to healthcare and community services that are in short supply by placing demand on those services.
Your health examination will include the standard medical examination. Additional tests (such as TB Screen test, chest x-ray, and HIV test) will be required by different age groups. In some circumstances, you may be required to take additional tests such as: hepatitis B and C test, syphilis test, HIV test, and tests that address your specific health risks.
You must be of good character and pass the character test. There are a number of circumstances where you may not pass the character test. For example, if you have a substantial criminal record. A substantial criminal record means if you have been:
- sentenced to death or imprisonment for life
- sentenced to a term of imprisonment of 12 months or more
- sentenced to two or more terms of imprisonment (even if served concurrently) where the total is 12 months or more
- found by a court to not be fit to plead in relation to an offence but found to have committed the offence and detained in a facility or institution
You may be required to obtain one or more documents to prove your character, such as: a police certificate, Form 80, character statutory declaration, military certificate, or a letter of good conduct from an employer.
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