Significant Investor Provisional (Subclass 188)
About This Visa
It is a 4-year temporary visa which can become permanent when later applying for the Business Innovation & Investment (Residence) Subclass 888 visa – presuming one has maintained an investment in Australia for 4-years or established an ownership interest in an Australian business.
You will need to spend at least 160 days in Australia on your Significant Investor visa, and be sponsored by a state or territory government to qualify for a permanent subclass 888 visa.
If you have applied for the Business Innovation stream, a 2-year extension is possible once you have held the subclass 188 visa for 3 years, giving you 6 years from the date of grant of the original visa.
Do I Apply in Australia or Overseas?
Applications can be made either in Australia or overseas.
If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.
Applications can only be lodged online via the SkillSelect system.
This visa is only available to applicants who are nominated by an Australian State or Territory government.
All applicants must meet the following criteria:
- Nomination by a state or territory government
- Invitation to apply through SkillSelect
- An investment of at leats AUD 5 million in a “complying investment”.
A “complying investment” for the purposes of the Significant Investor Visa includes:
- State/Territory government bonds; or
- ASIC regulated managed funds making investments in Australian assets; or
- Direct investment into unlisted Australian companies
Unlike other business migration categories, there is no upper age limit for this type of visa.
Business migration is a very complicated process. Book an appointment with our experienced team so that we can assess your situation on a personal level and provide you with a thorough assessment of your eligibility for any of the business visas available to you.
Why use Turner Coulson Immigration Lawyers?
Significant Investor Provisional (Subclass 188) visa can be refused for a number of reasons. The Significant Investor Provisional (Subclass 188) visa application also has strict criteria which all must be met and only very limited waiver provisions for age, English language and skill requirements exist.
It is essential that the visa application is assessed, structured and lodged in a way to satisfy all applicable DIBP law and policy. Turner Coulson (Immigration Lawyer Sydney) has years of experience handling the most complex cases and achieving positive outcomes in circumstances where the applicant would have failed if we were not involved.
What to do next and how to apply?
Getting the right advice upfront is essential so contact for a free no obligation discussion with one of our advisors who are ready and waiting to assist you applying for your visa.
We will assess your situation on an individual basis and provide you with the best advice to make your stay in Australia hassle-free.