The Significant Investor visa is a 4-year provisional visa for individuals wishing to make at least AUD 5 million investment in an Australian state or territory. It is one of the visa streams within the Subclass 188 Business Innovation and Investment visa.
Once you have managed an investment in Australia for at least 4 years, you and your family members may become eligible apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.
Unlike the 188A visa, you will need to stay 40 days per year inside Australia and be sponsored by one of Australian state or territory.
Who is it for
The visa subclass 188C is for people who invest at least AUD5 million in Australian investments that meet specific requirements and manage investment activity in Australia.
How to qualify
For visa grant purposes, you must make an investment of at least AUD 5 million in a “complying investment”. A complying investment must be made up of:
- at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small companies
- at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least AUD3 million in managed funds
*Unlike other 188 visa streams, there is no age limits in this visa.
You need to apply for state or territory nomination before you lodge an application for your visa. Basically, there are four steps to apply for this visa:
Step 1: Check your eligibility for 188C
Know your eligibility before you proceed. If you are perfectly eligible, you can confidently proceed for the visa processing.
Step 1: Submit an expression of interest
You cannot apply your visa application directly. First you need to submit expression of interest (EOI) and then be invited to apply through SkillSelect. Submitting an EOI does not mean you can apply your visa. You must get invited from a State or Territory. Submitting an EOI allows a state or territory governments (or the Australian government where possible) to evaluate your business claims and determine whether or not to nominate you.
Once you get nomination from state or territory government, you will be invited to apply for the Subclass 188 visa through Skillselect portal. you will have 60 days to apply online for the visa after receiving your invitation.
Detailed Information about the state eligibilities and requirements are available on state and territory websites:
Step 3: Prepare Your Documents
Australian 188 visa requires a complex set of documents. You will have to provide all personal, business and family information in order to satisfy the visa officer. The basic documents requirements are available on the government’s portal.
Step 4: Lodge Your Application Online
Applications must be lodged only. You must have an ImmiAccount so that you can start filling up your application, upload documents and pay the required visa fees.
Step 5: Wait for a decision
188 visas will take a long time to process. The average time is between 1 year and 2 years. You must have done your medical on time to avoid delays.
Step 6: Receive your visa and start working
Once your application is finalized, you will get your visa and can start living and working in Australia.
The document needed
- Color copies of the pages of your current passport showing photo, personal details, and passport issue and expiry dates.
- national identity card,
- proof of change of name, if applicable
- a marriage or divorce certificate
- a statement outlining your intended business or investment activities
- a description of your research or study in relevant sectors in Australia
- a description of your business’s activities in Australia, and the period of ownership, if applicable
- Evidence of the net value of your business and personal assets
- share or debentures certificates, fixed interest securities, ownership and market value of claimed marketable securities (if any)
- memorandum and articles of association
- certificate of business registration
- franchise agreement, company registrar, or share transfer documents
- partnership agreements between all partners
- Evidence you managed the business
- Provide a full set of financial statements for your business.
- a one-page organizational chart
- Summary statement of assets and liabilities – Provide Form 1139A Statement of Assets and Liabilities Position.
- Form 1413D Declaration in relation to each investment component
- Provide a certified copy of the trade qualification, diploma or bachelor degree to claim points.
- For a registered trademark, provide evidence that proves ownership of the trademark.
- monthly or annual tax returns showing the cumulative export sales of the main business for the year
- Provide proof you have at least functional English.
- Character certificate
From AUD 7,880
Each Australian state has its own requirements which you must know clearly before you submit your EOI.