Subclass 188B visa – a smooth investment for you and your family
An Australian Subclass 188B visa has been one of the most popular choices among investors.
Australia is a developed country in the world. That’s why it’s been an ideal place for many people who look for an investment opportunity. Moreover, you and your family members may apply for a permanent residence if eligible.
What does it take to apply for a Subclass 188B visa? Is this subclass suitable for your investment purposes? Let’s find out with VEM in this article.
What is a Subclass 188B visa?
This is a temporary visa that requires you to invest at least 2,5 million AUD in the Australian Government bonds and must continue that investment for a certain period of time.
Benefits of holding a Subclass 188B visa
With this visa, applicants can:
- Being able to carry out business and invest activities in Australia.
- Staying in Australia for up to 4 years and 3 months.
- Having multiple travels in and out of Australia.
- Being able to bring your immediate family members with you.
- Applying for an Investor (Permanent) Visa Stream if you meet certain requirements.
Requirements to settle in Australian with a Subclass 188B visa
Investors cannot directly settle in Australia with a Subclass 188B visa, but must follow the route: keep this visa, then apply for a Subclass 888B visa before the Subclass 188B visa expires.
The requirements of a Subclass 188B visa (phase 1)
|Age||Under 55 years old at the time of the visa lodgement.|
|Own a business||
During the two financial years prior to receiving an invitation from the Australian Government, an applicant must:
|Migration point||Applicants must score at least 65 points.|
|English||Score at least 4.5 IELTS, or an equivalent result (applicants may be required to pay an additional fee if not eligible).|
|Health and character||Meet the health and character requirements of the Australian Government.|
If you apply for a visa without meeting the requirements, you will not only lose your visa grant but also lose many attractive business and investment opportunities in Australia. That’s why you should consult with a qualified immigration consultant from the beginning.
Our professional migration consultant who is licensed by the Australian Government (MARN: 1577877) will support you to make sure you are eligible for this visa.
The requirements of a Subclass 888B visa (phase 2)
|Residence time||Have resided in Australia for at least 2 year in the last 4 years from the time of applying for a Subclass 888B visa.|
|Investment||The applicant still maintains the investment of 2,500,000 AUD when holding the temporary Subclass 188B visa.|
|Be nominated||The applicant receives a new nomination from the state where he or she is investing.|
How to get migration points for a Subclass 188B
|Age||From 18 to 24 years old||20|
|From 25 to 32 years old||30|
|From 33 to 39 years old||25|
|From 40 to 44 years old||20|
|From 45 to 54 years old||15|
|Over 55 years old||0|
|English level||IELTS 5.0 or higher||5|
|IELTS 7.0 or higher||10|
|Graduate with a Bachelor’s degree in business, science or technology from an Australian institution/recognised educational institution.||10|
|Asset||Total personal and business assets of the applicant and his/her spouse in the last 2 financial years:|
|From 1,250,000 AUD and over||5|
|From 1,750,00 AUD and over||15|
|From 2,250,000 AUD and over||25|
|From 2,750,00 AUD and over||35|
|In 2 out of 4 financial years prior to the time of application, annual business revenue of the enterprise:|
|From 750,000 AUD and over||5|
|From 1,250,000 AUD and over||15|
|From 1,750,000 AUD and over||25|
|From 2,250,000 AUD and over||35|
|Total investment||Prior to applying for a visa, the applicant must have owned at least AUD 100,000 in investment funds:|
|More than 4 years||10|
|More than 7 years||15|
|Has registered for a patent at least 1 year before.||15|
|Has registered a trademark 1 year ago.||10|
|Applicants are always directly involved in business management for at least 1 year before applying for a visa.||5|
|The applicant’s shares are equal to or more than 50% of the company’s annual turnover from the export trade.||15|
In the last 5 years:
|Certifications||A state or territory government in Australia certifies that the applicant’s business is the only entity of particular interest to the region.||10|
VEM clients will be consulted by experts to accumulate points from the very beginning.
The cost of a Subclass 188B visa
The Subclass 188B visa fees are applicable to the main applicant and each dependent applicant:
- Main applicant: 6,085AUD
- Additional applicant who is over 18 years old: 3,045AUD
- Additional applicant who is under 18 years old: 1,520AUD.
Furthermore, each applicant who is at least 18 years old and does not meet the functional English requirements. This fee is also called a second instalment which you are required to pay before the visa is granted.
- Main applicant: 9,795 AUD (not including 1.4% surcharge).
- Family member: 4,890 AUD (not including 1.4% surcharge).
You are also required to pay for health and police checks when lodging the visa application.
When the Department of Home Affairs doesn’t approve your visa for the first time, any visa applications in the future will be much more complex and costly as you are not allowed to receive any kind of refund.
Processing time of a Subclass 188B visa
|75% of the applications||25 months|
|90% of the applications||32 months|
However, your documents must be well – prepared to avoid a longer process or visa refusal. You find an eligible and reliable agency to help you with your application.
Moreover, your application might take longer if you are misleading and do not include all the documents that are required or fill it in the wrong way. It takes the DHA longer to verify your information. Your processing could also not be done by paying the wrong application charge.
Mr. Phong Cao is a member of the Australian Migration Institute (MIA: 12648), therefore, when working with VEM, clients will also be informed about any new changes or adjustments. Hence, increase their chances of getting a visa approval.
VEM will help you step by step with your documents, fees and applications. Do not hesitate to contact us for help. It is our pleasure to assist you!
Step-by-step of a Subclass 188B visa
According to our experience, here’s the process when applying for a Subclass 188B.
- Step 1: Preparing your documents.
- Step 2: Submitting your Expression of Interest (EOI).
- Step 3: Applying for Investor Visa Stream – Subclass 188B.
- Step 4: Investing in the State or Territory that nominated you.
- Step 5: Being granted a Subclass 188B visa.
How to prepare for your Subclass 188B visa documents
|Business documents||Business overview||The applicant describes the business that he/she owns.|
|Financial proof||Fill out form 1139A to prove he/she has at least 2,250,000 AUD.
VEM clients are guided in detail by a migration consultant.
|Running the company||Prove that you have at least 3 years of experience in operating a business in which the applicant holds 10% of the shares.|
|English certifications||Submit proof of IELTS certificate of 4.5 or higher.|
|Migration points||Proof of having at least 65 migration points.|
|Documents for accompanying person (if any)||
Obligations of a Subclass 188B visa holder
After the Subclass 188B visa grant, the Australian Government requires the visa applicant’s family to perform these following obligations:
- Maintain an investment of 2,500,000 AUD for at least 4 years.
- Reside in the state/region where the investment has been made for at least 2 years.
- Always obey Australian laws.
If the above requirements are not fulfilled within the allotted time, the applicant cannot apply for the Subclass 888B visa to migrate.
Understanding that this is very important, VEM always monitors closely to remind and support its clients to carry out these requirements!
Frequently asked questions
An Australian Subclass 188B visa is an Australian bond investment visa. The applicant must invest AUD 2,500,000 in state or territory bonds in Australia and maintain the investment in Australia.
Yes, you can if that person is eligible.
The answer depends on your actual circumstances. You can schedule a consultation with VEM so that Mr Phong Cao can assist you.
Contact VEM’s consultants for free advice.
To start your journey to Australia with a Subclass 188B visa, you need to make an investment before being granted a visa. The specific time to complete the investments will be specified in the request letter.
You have 70 days to do so.
The answer is yes. If you are a client of VEM, Mr Phong Cao will guide you on how to prove it accurately and convincingly.
If there’s any further questions about Subclass 188B visa, don’t hesitate to leave a comment or call our hotline. VEM will contact you as soon as possible.