WHAT IS AUSTRALIA'S VISA 188B INVESTOR STREAM?

Visa 188B Australia (Business Innovation and Investment (provisional) visa (subclass 188) – Investor stream) is a temporary investor visa. This visa requires you to invest at least AUD 2,500,000 into investment funds specified by the Australian Government. After fulfilling investment obligations, holders of the 188B visa can apply for the 888B visa – Stage 2 – to obtain Australian citizenship for their family.

BENEFITS OF HOLDING AN AUSTRALIAN VISA 188B

When the Australian Government grants the 188B visa to entrepreneurs, both the entrepreneurs and their dependents can enjoy the following attractive benefits:

• Residency Rights: Entrepreneurs can stay in Australia for up to 5 years.

• Business and Investment Rights: Ability to conduct business and invest in Australia.

• Travel Rights: Freedom to enter and exit Australia as many times as desired during the visa period.

• Education and Employment Rights: Entrepreneurs can work and study in Australia, including participating in over 510 hours of free English language programs for migrants.

• Family Sponsorship Rights: Ability to sponsor eligible family members.

• Permanent Residency Rights: Entrepreneurs may apply for the 888B visa for permanent residency if conditions are met.

INVESTMENT REQUIREMENTS FOR VISA 188B

Applicants for the 188B visa must invest in portfolios specified by the Australian Government. These investment funds are similar to those required for visa 188C – the Significant Investor visa.

CONDITIONS FOR PERMANENT RESIDENCY IN AUSTRALIA WITH VISA 188B

Applicants cannot directly transition to permanent residency with the 188B visa. They must follow the pathway: hold the 188B visa, then apply for the 888B visa before the 188B visa expires.

REQUIREMENTS FOR APPLYING FOR AUSTRALIAN VISA 188B

The requirements for visa 188B are stricter than those for visa 188A – the Business Innovation stream. Specifically:

• Age: Entrepreneurs must be under 55 years old when applying (may be exempt depending on state regulations).

• Nomination: Must be nominated by a state or territory government in Australia.

• Business and Investment Management:

  • At least 3 years of experience managing one or more eligible businesses/investments.

  • In the last 5 years from the date of application, the entrepreneur must:

    • Directly manage a business in which they hold at least 10% of the shares, or

    • Invest a minimum of AUD 2,500,000 into legal investments.

• Assets: In the 2 financial years before receiving an invitation from the Australian Government, the entrepreneur must:

  • Have total assets of AUD 2,500,000 (can include spouse’s assets).

  • Assets must be of transparent origin.

  • Transfer assets to Australia before the visa is granted.

• Investment:

  • After lodging the application, the entrepreneur must invest at least AUD 2,500,000, including:

    • 20% (AUD 500,000) into venture capital or private equity funds.

    • 30% (AUD 750,000) into eligible investment funds. These funds must invest in emerging companies listed on the Australian Securities Exchange.

    • 50% (AUD 1,250,000) into balanced funds.

  • Commit to maintaining the investment for 3 continuous years.

• Points Test: Achieve at least 65 points on the business innovation and investment points test.

• English Language: Obtain at least 4.5 in IELTS or an equivalent assessment. If lacking the required certificate, additional fees may apply.

• Health and Character:

  • No history of illegal business or investment in Australia.

  • Settled any debts with the Australian Government before applying (if applicable).

  • No serious criminal record.

PROCESS FOR APPLYING FOR AUSTRALIAN VISA 188B

According to the latest updates from the Australian Department of Home Affairs, the process for applying for the 188B visa involves 8 steps:

1. Prepare the 188B visa application (1 to 3 months).

2. Submit the state or territory nomination application (6 to 8 weeks processing).

3. Submit an Expression of Interest (EOI).

4. Apply for the 188B visa.

5. Undertake health checks and provide biometrics.

6. Await interview invitation (most applications do not require an interview).

7. Make the required investments.

8. Receive the 188B visa.

AOC ensures that the 188B visa applications for its clients are prepared and submitted correctly and provides continuous support throughout the process.

HOW TO PREPARE AN ACCURATE 188B VISA APPLICATION

Before submitting an application for the 188B visa, ensure that your application includes all the basic documents:

• Personal Documents:

  • Passport (certified copy).

  • ID card (certified copy).

  • Birth certificate (certified copy).

  • Marriage certificate (if applicable, certified copy).

  • Proof of any name changes (if applicable).

• Business Documents: Overview of investments and a description of your business and investment activities.

• Proof of Assets: Complete Form 1139A to demonstrate assets of at least AUD 2,500,000.

• Proof of Company Management: Demonstrate at least 3 years of experience managing a business where you hold at least 10% of the shares.

• English Proficiency Certificate: Provide evidence of at least 4.5 IELTS or equivalent.

• Points Test: Prove that you have a minimum of 65 points.

• Documents for Dependents (if applicable):

  • Personal documents.

  • Proof of meeting visa conditions.

  • Evidence of relationship with the entrepreneur.

OBLIGATIONS FOR VISA 188B HOLDERS

After receiving the 188B visa, the Australian Government requires the visa holder to:

• Maintain the AUD 2,500,000 investment for 3 years.

• Reside in the state/territory where the investment was made for at least 2 years.

• Comply with Australian laws.

Failure to meet these requirements within the specified time may prevent the applicant from applying for the 888B visa for permanent residency. AOC closely monitors and supports clients to ensure compliance with these obligations.

Additionally, you might consider and compare with visa 188A, which has more relaxed conditions compared to visa 188B.