Business Innovation and Investment (Provisional) visa (subclass 188)
188C Significant Investor stream
This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
Applicant must have:
1. Be nominated:
You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa.
The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa.
2. Be able to invest at least AUD5 million:
To be granted this visa, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million when we invite you to, and have a genuine intention to hold that investment for at least 4 years. It must be invested in the following proportion:
The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities, and commercial real estate.
We prohibit direct investment in residential real estate. We strictly limit indirect investment in residential property through managed funds.
You must not use investments as security or collateral for a loan.
3. Not have a history of involvement in unacceptable activities: You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
4. Have functional English: All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge
5. Meet other requirements:
This visa costs AUD7,880 for the main applicant
There is also a charge for each family member who applies for the visa with you:
The second instalment charges are:
Business Innovation and Investment (Permanent) visa (subclass 888)
888c Significant Investor stream
This visa lets you continue your investment activities in Australia permanently.
You must have:
1. Have this visa:
A primary applicant for the visa must be:
When you can apply for the permanent visa depends on when you applied for your provisional visa.
Your family members who wish to apply for the 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.
2. Be nominated:
You must have a current nomination from a state or territory government agency.
When you applied for your provisional visa, you gave us an Expression of Interest. A state or territory saw your Expression of Interest and nominated you.
You do not need to provide a new Expression of Interest. But the state or territory needs to confirm that your nomination is still current.
3. Have held your complying investment or complying significant investment for the required period of time:
When we granted your Business Innovation and Investment (Provisional) visa, you invested AUD5 million in a ‘complying investment’ or a ‘complying significant investment.
To be granted a Business Innovation and Investment (Permanent) (subclass 888) visa, you (or you and your spouse or de facto partner combined) must:
If any part of your investment is or was a direct investment in an Australian proprietary company, then:
4. Have followed Australian laws:
When operating your business in Australia, you and your partner must have followed:
This includes laws about taxation, superannuation and workplace relations.
5. Functional English:
You might have to pay an extra charge for any dependent applicant 18 years old or older who has less than functional English. If they can’t show that they have at least functional English, they will need to pay the second instalment of the visa application charge when we ask you to.
They will not need to pay a second instalment if they have already paid a second instalment of the visa application charge in relation to an application for a Subclass 188 (Business Innovation and Investment (Provisional)) visa.
6. Meet the residence requirement: You must have lived in Australia for at least 2 of the 4 years immediately before you apply.
7. Not have been involved in unacceptable business activities: You and your partner must not have been involved in any business or investment activities that are unacceptable in Australia.
8. Have a realistic commitment to continuing business activities: You must have a realistic commitment to continuing your business and investment activities in Australia.
9. Meet other requirements:
The visa costs AUD2,590 for the main applicant.
The second instalment charge is AUD4,890.
an extra charge for any applicant 18 years old or older who has less than functional English
You might also have to pay other costs for health checks, police certificates and biometrics.
To work out what your visa will cost use the Visa Pricing Estimator. The estimator does not take into account the second instalment or other costs.
Melbourne Headquarters: Level 5,190 Queen Street, Melbourne, VIC 3000
Tel: 03 9670 6660
Box Hill Branch: 957 Whitehorse Road, Box Hill, VIC 3128
Sydney Branch: 303/160 Rowe Street, Eastwood, NSW 2122
Tel: 02 9874 8989 a>
9:30am - 06:00pm (Monday to Friday)