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.
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.Source: Department of Home Affairs, Australia
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:
*Unlike other 188 visa streams, there is no age limits in this visa.Source: Department of Home Affairs, Australia
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.Source: Department of Home Affairs, Australia