Our professional migration consultant provides information about Subclass 188C visa

The Significant Investor Visa – Subclass 188C is targeted by many people who have significant funds to invest in Australia. All it requires for this visa is capital of 5 million AUD.

What is a Subclass 188C?

 

This is a temporary visa for people who are capable and willing to invest at least 5 million AUD in Australia for the 4 year period, after which time the applicant can seek to apply for the Subclass 888 permanent residency visa.

 

 

Benefits of holding a Significant Investor 188c visa

With this visa, applicants can:

• Being able to carry out investment activity in Australia.
• Staying in Australia for up to 4 years and 3 months.
• Being able to bring your eligible family member with you.
• Having multiple travels between your country and Australia.
• Applying for a Significant Investor (Permanent) Visa Stream if you meet the requirements.

 

 

For more information about the benefits of the Significant Investor 188C visa, contact VEM today. Our professional migration consultant who is licensed by the Australian Government (MARN: 1577877) will support you to make the best use of these benefits.

Requirements of a Significant Investor 188C visa

To help you visualize your migration pathways, here are the requirements for a Subclass 188C visa and a Subclass 888C visa.

The requirements of a Subclass 188C visa (phase 1)

 

Be nominated	The applicant is nominated by a state or territory government agency in Australia. VEM’s clients are always assured of this issue.
Investment	The applicant has invested at least AUD 5,000,000 in investment portfolios regulated by the Australian Government, in which: A minimum of 1,000,000 AUD for Australian venture capital funds, or private development funds. The condition is that these funds contribute to small companies and start-ups. A minimum of 1,500,000 AUD for legally managed funds or publicly listed companies LICs (LICs – Listed Investment Companies). These are listed companies on the Australian Securities Exchange ASX. At least AUD 2,500,000 for management funds or LICs that have investments in assets such as other ASX listed companies, corporate bonds, or real estate in Australia. If you are a client of VEM, you will be guided by a professional migration consultant. In addition, the Australian states/territories may modify this requirement, for example: New South Wales: requires applicants to invest AUD1,500,000 in NSW Waratah Bonds. South Australia, Tasmania, and Victoria: require applicants to demonstrate that the investment will provide a material benefit to the state’s economy.
English	Score at least 4.5 IELTS, or an equivalent result (applicants may be required to pay an additional fee if not eligible). If you don’t meet this requirement, VEM can provide a suitable solution.
Health and character	Meet the health and character requirements of the Australian Government.
Others	Have no debt to the Australian Government. If so, it must be refunded before submitting the application. Have no criminal background. You and your partner have no illegal business or investment history in Australia.

 

More than 10 years of experience in Australian migration, VEM consultant knows that many applicants cannot get a 188C visa even though they meet the most stringent conditions – the investment level.

 

The reason is that they do not fully understand the condition, or do not know how to prove that the condition is satisfied.

 

To avoid this unfortunate situation, you can consider using VEM’s Australian visa services. At VEM, Mr. Phong Cao – a migration consultant licensed by the Australian Government (MARN: 1577877) is the person who directly advises and assists you. Moreover, he also stands by to support your entire journey to apply for a Subclass 888C visa.

The requirements of a Subclass 888C visa (phase 2)

If you want to stay in Australia permanently after a Subclass 1888C visa application, you may want to consider the requirements of a Subclass 888C visa.

 

Length of stay in Australia with a Subclass 188C	Reside in Australia for an average of 40 days/year for primary visa holders or 180 days per/year for secondary visa holders.
Be nominated	The state in which the investor has sent an invitation to apply for the Subclass 888C visa.
Investment	Maintain an investment of 5,000,000AUD for at least 4 years.

 

How to stay in Australia after your Subclass 188C visa expires

If the Subclass 188C visa is about to expire but you still do not meet the requirements for the 888C visa, please extend the 188C visa to continue your temporary stay in order to meet the investment conditions.

 

As a rule, you can extend your Subclass 188C visa once to stay in Australia for another 4 years.

 

If you apply for an Australian Subclass 188C visa with VEM from the beginning, you always know what requirements you need to fulfill with the Australian Government to limit visa extensions.

 

 

How to prepare for your Subclass 188C visa documents

 

Identification papers	Copies of your certified birth certificate. Copies of your valid certified passport 2 card images. Marriage certificates (if any). ID card. Proof that you’ve changed name before (if any).
Nomination letter	Complete Form 1414 and send it to your territory/state to receive a nomination letter. VEM customers will be guided specifically by an immigration consultant.
Commitment to business and investment	Summary of current business and investment activities. Indicate long-term Australian business and investment intentions in the future.
English	Provide proof of eligibility for the Subclass 188C visa requirements.
Proof of relatives’ documents (if any)	Identification document of the accompanying person. Proof of relationship with the applicant. Proof of health and character.

 

If you submit an incomplete or missing application, the DHA will ask you to supplement. VEM’s clients are consulted and assisted in making documents. So they always have a standard Subclass 188C visa application to submit.

Step-by-step of a Subclass 188C visa

Understanding the Subclass 188C visa application process is the right step before submitting your application.

• Step 1: Assess your eligibility for a visa
• Step 2: Prepare documents, appraise investment capital.
• Step 3: Submit an Expression of Interest (EOI).
• Step 4: State/Territory in Australia issues a nomination letter.
• Step 5: The applicant submits the application and visa fee.
• Step 6: The DHA requires additional documents (if any).
• Step 7: Applicant invests in the sponsoring state/territory.
• Step 8: The Australian Subclass 188C visa is granted.

Clients applying for a Subclass 188C visa with VEM have many advantages. Firstly, clients are directly consulted and guided by migration consultants. Secondly, their documents are in accordance with Australian Migration law.

Cost of a Significant Investor 188c visa

The visa application fee for a Significant Investor 188C visa is 8,925AUD (not including a 1.4% surcharge) for the main applicant. There is an additional fee for each family member who applies for this visa with you:

• Additional applicant who is over 18 years old: 4,465AUD (not including 1.4% surcharge).
• Additional applicant who is under 18 years old: 2,235AUD (not including 1.4% surcharge).

Besides, you need to pay an extra fee for the applicant who is at least 18 years old and does not meet the functional English requirements. This fee is also called the second installment and only paid when the visa is going to be granted to you:

• Main applicant: 9,795AUD (not including 1.4% surcharge).
• Family member: 4,890AUD (not including 1.4% surcharge).

As the Department of Home Affairs doesn’t grant you a visa for the first time, any visa applications in the future will be much harder and much more complex.

 

Moreover, this process will cost you even more time and money because you cannot receive any kind of refund when there’s a visa rejection.

 

Therefore, it’s really important to choose a professional registered migration agency to save you from unfortunate costs.

Processing times of a Significant Investor 188c visa

 

	Processing times
75% of the applications	17 months
90% of the applications	27 months

 

Thanks to being a member of the Australian Migration Institute (MIA: 12648), Mr. Phong Cao is always updated with the latest changes about Australian visas. That’s why when working with VEM, your documents will be properly prepared according to the Australian Migration regulations.

Obligations of a Subclass 188C visa applicants

During the period of 4 years and 3 months holding a Significant Investor visa – Subclass 188C, you need to fulfill the following obligations to be eligible for a Subclass 888C visa.

 

Business	Reside in the Australian state or territory that nominated you. Maintain business in Australia.
Investment	Maintain a minimum investment of AUD 5,000,000 for 4 years. When you have investment income, you must pay tax in accordance with Australian laws.
Company	The internal rules of the business (in Australia) that the applicant operates must comply with Australian labor laws (if any).

 

Frequently asked questions

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If there’s any further questions about Subclass 188C visa, don’t hesitate to leave a comment or contact our hotline. VEM will contact you as soon as possible.