Subclass 188b visa - investor stream - an investment pathway to live in australia permanently

What is a subclass 188B visa?

Business Innovation and Investment (Provisional) visa (subclass 188) is a points-tested program for people with a successful record of qualifying business or eligible investment activity who will make a designated investment in a State or Territory of Australia, and have a realistic commitment to continue the business or investment activity in Australia after the designated investment has matured.

 

 

The benefits of holding a subclass 188B visa

With this visa, applicants can:

Benefits	Details
Residence	Staying in Australia for up to 5 years (or previously 4 years 3 months for legacy visa holders).
Business and investment	Being able to carry out business and investment activities in Australia.
Multiple entries	Being able to travel outside Australia and return as many times as they want while the visa is valid.
Education and working	Allowed to work and study in Australia, especially being entitled to a free English course.
Sponsor family member	Eligible family members can be granted the visa together with the main applicant to come to Australia to enjoy the same benefits.
Applying for Australian citizenship, if eligible	Being able to apply for citizenship after becoming a permanent resident and having met residential requirements.

 

Core Criteria for Investor Stream 188(B)

The requirements of a subclass 188B visa (stage 1)

In order to successfully apply for this temporary visa, you must meet the following requirements:

 

Requirements	Details
Age	Under 55 years old at the time of the nomination application (unless the State or Territory government agency has determined their investment will be of exceptional economic benefit).
Be nominated	Applicants must be nominated by an Australian State before being invited to apply for this visa.
Business ownership	Have at least 3 years experience in managing one or more qualifying businesses or eligible investments. At least 1 year in the last 5 years from the time of application, applicants must: Directly run a business in which the applicant own at least 10% of the shares or The applicant must make legitimate investments of at least 1,500,000AUD. (đổi từ 2,500,000 AUD thành 1,500,000AUD)
Net assets	Have a net business, investment and personal assets of at least: 2,500,000 AUD (can be combined with spouse’s property). Applicants must be able to prove the sources of funds. Transfer 2,500,000AUD to Australia before the visa is granted
Investment	After being granted the visa, must invest at least 2,500,000 AUD: At least 500,000 AUD (20%) in venture capital and growth private equity funds which invest in start-ups and small private companies. At least 750,000 AUD in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange. A ‘balancing investment’ of at least 1,250,000 AUD in managed funds. Commit to maintaining this investment throughout the visa holding period.
Migration points	Applicants must achieve at least 65 points on the points test.
English	At least 4.5 IELTS, or an equivalent result (or pay an additional fee if they do not meet the conditions).
Health	Must meet the health requirements of the Australian Government.
Criminal Records	Applicants and partners have no history of illegal business or investment in Australia. Have no debt to the Australian Government. If so, applicants must have paid it back or have an approved arrangement in place to pay it back. Have no criminal background.

 

You should get advice and assistance from a qualified migration consultant to make sure you meet the requirements.

 

 

 

Core Criteria for Investor Stream 888(B) – (2nd Stage)

 

Requirements	Details
Residence time	The applicant must have been physically living in Australia for at least 2 years in the 4 years immediately before making the application.
Investment	For the whole period during which applicants held their subclass 188B visa, they had to maintain an investment of 2,500,000 AUD.
Be nominated	Applicants must obtain nomination approval from a state or territory where they are investing.
Criminal Records	Have followed Australian laws. Applicants and partners have no history of illegal business or investment in Australia. Have no debt to the Australian government

 

How to get migration points for a subclass 188B visa

Applicants must score at least 65

 

Standard	Requirements	Points
Age	18 – 24 years old	20
	25 – 32 years old	30
	33 – 39 years old	25
	40 – 44 years old	20
	45 – 54 years old	15
	Over 55 years old	0
English language ability	IELTS 5.0 or higher	5
	IELTS 7.0 or higher	10
Qualifications	Trade certificates, Bachelor’s degree from educational institutions in Australia. A Bachelor’s degree is awarded by a qualified educational institution.	5
	Graduate with a Bachelor’s degree in business, science or technology from an Australian institution/recognized educational institution.	10
Net personal and business assets	Total personal and business assets of applicants and his/her spouse in the last 2 financial years:
	Over 1,250,000AUD	5
	Over 1,750,000AUD	15
	Over 2,250,000AUD	25
	Over 2,750,000AUD	35
Business turnover	For 2 out of 4 fiscal years prior to the time of application, annual business revenue must be:
	Over 750,000AUD	5
	Over 1,250,000AUD	15
	Over 1,750,000AUD	25
	Over 2,250,000AUD	35
Business statement	At the time applicants receives the invitation, the business has been running:
	At least 4 years	10
	At least 7 years	15
Total investment	Lifetime of the investment (at least AUD 250,000 in investment funds:
	More than 4 years	10
	More than 7 years	15
	Has a registered patent at least 1 year	15
	Has a registered trademark 1 year ago	10
	Applicants directly run their business for at least 1 year before applying for the visa	5
	Applicant’s shares are equal to or more than 50% of the company’s annual turnover from the export trade.	15
	For the last 5 years: There are 3 consecutive financial years where the average annual revenue growth is higher than 20%. At least once in those 3 years the business has at least 10 employees working. The minimum total working hours of these employees must be equal to those of full-time employees.	10
	The business owner received a government subsidy which is at least 10,000 AUD during the period of starting the business. The minimum venture capital fund is 100,000 AUD (within 4 years before applicants are invited to start an early-stage business, the commercialization concept of a product, develop the business or expand the business).	10
Certifications	A state or territorial government in Australia certifies that the applicant’s business is the only entity of particular interest to the region.	10

 

Step-by-step of a subclass 188B visa application process

Step 1: Preparing the documents (from 1 to 3 months)
Step 2: Being nominated by a State or Territory.
Step 3: Submitting applicant’s Expression of Interest (EOI) and then be invited to apply.
Step 4: Applying for the visa.
Step 5: Having a health examination and biometrics.
Step 6: Attending the interview if requested (most cases have no interview).
Step 7: Make the investment
Step 8: The subclass 188B visa is granted.

 

 

The processing times of a subclass 188B visa

 

Processing times
75% of applications	31 Months
90% of applications	33 Months

 

The cost of a subclass 188B visa

 

Visa application charge installments	Visa costs (not including 1.4% surcharge)
	Main applicants	Additional applicants
		Over 18 years old	Under 18 years old
First installment: the time of lodging a visa application.	6,270 AUD	3,135 AUD	1,565 AUD
Second installment: Additional applicants who are 18 years old or older have less than functional English (4.5 IELTS).	9,795 AUD	4,890 AUD	0 AUD

 

Applicants’ documents must be well–prepared to avoid a longer process or visa refusal.

 

What must prepare for subclass 188B visa documents?

 

Documents	Details
Identification papers	Passport photos. Certified copies of the applicant’s passport. Certified copies of the applicants’ ID cards. Certified copies of the applicant’s birth certificate. Marriage certificates (if any). Proof of change of name, if applicable
Business documents	Business Overview	Details the functional areas of business and the business activities.
	Financial proof	Fill out form 1139A Statement of Assets and Liabilities Position (SALP) to prove the applicant has assets of at least 2.5 million AUD
	Prove the ownership right to run the company	Demonstrate at least 3 years of owning a business in which the applicant held at least 10 percent ownership.
English	At least 4.5 IELTS
Migration points	Obtain at least 65 on the points test
Documents for accompanying person (if any)	Identification papers. Proof of his/her eligibility. Proof of the relationship with the main applicant.

 

Applicant’s obligations

• Live in the State or Territory in which applicants made the designated investment for at least 2 years during the period their provisional visa is valid.
• Hold complied investments of at least 2.5 million AUD continuously during the visa duration.
• Applicants must comply with Australian laws.

In addition, applicants can also refer to and consider the subclass 188A visa.

 

Testimonials

VEM’s customer – Ms. Susan Le has just been granted subclass 188A visa – Business Innovation stream just before the Australian Government increases the requirements.

VEM’s customer who is granted the subclass 188A visa

 

Frequently asked questions

Can I include another family member with a subclass 188B visa?

• Yes, you can if that person is eligible.

Is there any risk in applying for a subclass 188B visa? What is it?

• Choosing a good management fund organization would help your investments profitable and reduce risks.

I am a senior manager of a business. I want to apply for a subclass 188B visa for a temporary stay, then apply for a subclass 888B visa for permanent residence. But on documents, I do not have shares in that company. Can I apply for a visa?

• You must share at least 10% of the business owners to meet the requirements for this visa. You should contact our migration specialist for further advice.

Do I have to apply for a subclass 188B visa inside or outside Australia?

• It depends on your actual situation. You should contact VEM and schedule a consultation with our qualified migration specialist.

 

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If you need help from our licensed migration specialist – Mr. Phong Cao, contact VEM now! Moreover, we have a preferential program for this investment visa!