SUBCLASS 188B INVESTOR STREAM VISA – AUSTRALIA
Under this category, you are given a four-year residency on a temporary basis. Once you maintain a Designated Investment in Australia for four years, you are given the option to apply for a permanent residency. To do this, you must complete an application for Business Innovation & Investment (Residence) Subclass 888.
Meeting the eligibility of the Subclass 888 visa application
To meet the conditions of the Subclass 888 application, you must obtain the following:
- You must be under the age of 55 unless the state or territory you are nominating officially declares you are an exemption for economic benefits.
- Achieve the current pass mark (at present, this is 65 points) in the Business Innovation and Investments Points test.
- Experience managing a qualifying business/investments to the equivalent of AU$1.5 million minimum, or a 10 per cent shareholding in the business.
- You must have at least three years of experience managing one or more businesses that are deemed qualified. Alternatively, these can be eligible investments.
- You must have at least AU$2.25 million in net assets.
Gaining permanent residency through Subclass 188B Investor Stream visa
To become a permanent resident in Australia using the investment visa, you must be able to demonstrate several factors. These include:
- Having resided in Australia through a Subclass 188B visa for a minimum of two years and within the four years prior to lodging the application.
- Having maintained an investment of AU$1.5 million in government bond for a minimum of four years.
- You must be under the age of 55 unless the state or territory you are nominating officially declares you are an exemption for economic benefits.
What you can do with this visa?
If you carry a Subclass 188B visa, there are several things you are allowed to undertake across Australia. These aspects include:
- Continue to carry out business or investments within
- Stay in the country for up to four years and three months.
- Allow your family members to come with you (if eligible).
- Apply for a permanent Business Innovation and Investment visa (Subclass 888) – which is permanent. This is only under the condition that you meet specific requirements.
Conditions of your stay
- During your stay within Australia, you are given the ability to leave and re-enter the country as many times as you need, as long your visa is valid. The date is officially valid from the date you obtain it.
- If you want to stay longer than the allowed period, you must apply for a new one. However, once you obtain the 188B Subclass, you can then apply for the Business Innovation and Investment (Permanent) visa (known as Subclass 888) Investor Stream. This is only if you are eligible, and all requirements are met.
- When you apply, you can include family members on your application, as well as dependent children. You can amend the application before a decision is made on your application. However, any individual added to your application must meet all health and character criteria.
- All family members on your application must adhere to the conditions of your visa, as well as enforced Australian laws, during your stay.
- Any income you earn within Australia from your investment is subject to the same Australian taxation laws as other citizens.
Delays and processing
- You can apply from either inside or outside of Australia.
- The processing time can vary, and there is no set period for which your application may be approved.
- Delays can occur if your application is not filled in correctly, or there are missing documents that are crucial to the case. In these situations, the staff will need to verify your information and eligibility, which lengthens the process.
Further information from the Australian Government on these visas can be found here.
How to apply for the Subclass 188B Investor Stream visa
The process that is centred around this type of business visa can be lengthy and thorough. As we are one of the leading firm’s working in this field, AIM Lawyers & Consultants can help you through each step of this journey. With specialists across Victoria that adhere to our reputation as the best migration agencies in Australia, our attentive staff will guide you through each phase, supporting you towards understanding the entire process involved and give you tangible outcomes to work towards.
Our expertise is widely recognised across Australia, as well throughout Malaysia, Hong Kong, Singapore, China, Taiwan, Macau, Vietnam, Indonesia, USA, Japan and the UK.
To kickstart your application process, get in touch with AIM Lawyers and consultations on +613 9011 0280 or by sending us an email at info@aimlawyers.com.au
