Business Visa – Investor Stream
Subclass 188B
(Temporary)
Overview
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As a 5-year provisional visa, Subclass 188B visa is for overseas investors and business owners to make a 5-year investment in a specific Australian state/territory.
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The holder of this visa can become eligible for permanent residency through Business Visa – Investor stream (Subclass 888B) upon the completion of the investment period.
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Similar to Business Visa – Innovation stream (Subclass 188A), Subclass 188B visa is points-based, meaning you must meet the threshold points requirement (minimum 65) to be eligible to apply.
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You may claim points based on a range of factors, such as age, financial assets, investment experience, educational background and English competency.
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It is invitation-based, meaning the Immigration generally picks the top-calibre (highest-scored) applicants in each round based on their submitted Expressions of Interest (EOI) and issue them invitations to apply for this visa.
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You may include your family in your visa application so your entire family can migrate together.
Process
Step 1 – Lodge Expression of Interest (EOI) and wait for invitation from state/territory government
Step 2 – Apply for State/territory nomination once invited
Step 3 – Submit application for Subclass 188B visa when nomination is approved
Eligibility
Be aged under 55 (exemptions apply)
Receive invitation from the Immigration
Obtain nomination from state/territory government
For at least 1 of the 5 fiscal years immediately before the time of invitation, you have directly managed one of the following:
- a qualifying business in which you, or together with your partner, had at least 10% ownership interest; or
- a eligible investment of which you, or together with your partner, own at least AUD 2.5 million
Have at least 3 years‘ experience managing one or more qualifying businesses or eligible investments
Have a successful business or investment history
Have demonstrated a high level of management skill
Financial assets: for the 2 fiscal years immediately before the time of invitation, you or together with your partner, have net business and personal assets of at least AUD 2.5 million, which must have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted.
Investment: Make a designated investment of at least AUD 2.5 million which must be maintained for the duration of your Subclass 188B visa. It must be invested in the following proportions:
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at least AUD 500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
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at least AUD 750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
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a ‘balancing investment’ of at least AUD 1.25 million in managed funds
Score at least 65 points on Points Test
Have not had involvement in unacceptable business or investment activities
Meet health and character requirements
Have functional English (or a second instalment of application fee applies)
Special Notes
Investment Further Explained
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The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.
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The Immigration prohibits direct investment in residential real estate. It strictly limits indirect investment in residential property through managed funds.
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You must not use investments as security or collateral for a loan.
Residence
Applicants must reside for at least 2 years in the nominating State/territory following the grant of the visa.
Location
Applicants may be in or outside Australia at the time of application and visa grant.
Duration of Stay
This visa is valid for 5 years.
Tricks and Common Reasons for Refusal
1 – Unfamiliarity with How the Australian Immigration Works and Its Mentality
In many cases, applicants prepare and submit their supporting documentation in a disorderly way, giving the Immigration a hard time digging through tons of paperwork to get things in the right order when picking up a new visa application. This will potentially lead to endless back-and-forth clarification and explanation, wasting both sides lots of time and can even result in a refusal of Subclass 188B visa.
This is common since applying for a visa, especially a permanent one, is the very first time to most applicants. For this reason, our team have developed our own system for labelling, coding, structuring and, where necessary, cross-referencing documentation so your application can be submitted in the most presentable and logical manner. Making your application stand out among all competitors has been our goal from day one.
2 – Careless Yet Costly Mistakes
Applying for migration is seen as a delicate work of art due to the staggering amount of attention, paperwork, and details involved. A seemingly minor/harmless error such as a typo in your résumé, a date entered wrong, or a tick in the wrong box in the lengthy visa application form can prove costly as the Immigration processes all visa applications strictly in accordance with migration law, in particular Migration Act 1958 and Migration Regulations 1994. Even a small error can be regarded as failing to satisfy a visa requirement and therefore lead to a visa refusal. To minimise such incidents, our team pay extra attention while editing and drafting every client’s paperwork and always proofread and also conduct a final review of documentation before submission.
3 – Applications Not Being Decision-ready
Another common reason for refusal, even instant refusal, for Subclass 188A visa is submitting an application without all the required documentation. This happens when the application was prepared carelessly, or when the applicant was trying to rush an application for whatever reason (e.g. meeting a cut-off date of a major migration policy change which happens almost each and every year and often catches people off guard).
Even with 43 years of team experience, we handle each application cautiously and meticulously like our first to ensure nothing slips through the cracks. Should a sudden change of policy hit and impact you, we are more than capable of advising you how to salvage your application in terms of what documents are mandatory at the time of submission and what can wait so you are never in danger of a straight-up visa refusal upon submission.
Benefits
With this visa, you may:
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migrate to Australia together with your family
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apply for permanent residency through Business Visa – Investor stream (Subclass 888B) in only 2 years if eligible
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potentially bring your extended family members to Australia permanently on parent visa or visa intended for other relatives
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stay in Australia for 5 years without having to leave
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access Australia’s public health care scheme (Medicare) which essentially provides free medical consultations, operations and hospitalization for a wide range of medical conditions
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travel overseas and back to Australia without limitations for any purposes (e.g. overseas holiday, visiting family and/or attending family matters in home country)
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study in Australia without any limitations
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attend free English language course provided by Australian government
Application Fees
You may include your family in the application so your family can migrate to Australia together.
First Instalment
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Main applicant: $6270
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Each secondary applicant aged 18 or over: $3135
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Each secondary applicant under 18: $1565
Second Instalment
If any applicant at least 18 is assessed as not having functional English at the time of invitation, a second instalment applies:
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Main applicant: $9795
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Each secondary applicant: $4890
Please note: you may incur third-party charges, for example, for assets valuation, translation, English test, police certificate and health exam.
Processing Time
Kindly note the processing time constantly varies. Please contact us for update.
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75% of applications: 35 months
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90% of applications: 38 months
Unbeatable 5-step Services at Microscopic Level - How Exactly We Make It Hassle-free
Step 1: Initial Consultation
During our initial consultation, we thoroughly advise you on:
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your visa options and related matters
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your detailed application process
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potential challenges and solutions based upon your circumstances
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business sponsorship obligations for you as well as your employer
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your work rights during different stages of the application process
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estimate timeframe for preparing your application and its processing time
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compliances issues, including but not limited to how you ought to comply with your visa conditions
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potential breaches of business sponsorship obligations, and consequential sanctions and penalties
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fees involved in each stage (e.g. skills assessment, state/territory nomination, visa application, health examination, police certificate)
It goes without saying the first and foremost thing in a visa application is get a clear picture of what visas you are indeed eligible for, and equally importantly, which one of them suits you the most. We’ve seen too many clients who, for some reason, rushed an application and halfway through realised they were not actually on the right path due to ineligibility issues before approaching us, for example, because:
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their self-claimed work experience was not or only partially accepted by the Immigration, which was unfortunately common
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the length of their work experience or residence in Australia (as required by some visas) was not recognised by the Immigration
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they settled on an unsuitable occupation at the beginning of a work/employment visa application just because the occupation was migration-eligible whereas their daily duties failed to be in line with the prescribed job tasks of the selected occupation
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they simply took into consideration the visa requirements by the Immigration without even considering the criteria of skills assessment by the skills assessing body as well as those of the government for state/territory nomination which vary from time to time even without prior notice
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they applied for the partner visa they were not actually eligible for as they failed to meet the cohabitation requirement from the Immigration’s perspective
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the turnover and/or assets they relied on for business visa application was not recognised by the Immigration due to various reasons
Step 2 – Letter of Advice
Following the consultation, we will email you a letter of advice containing what we discussed during the initial consultation in case you miss out on anything. This gives you peace of mind as it outlines everything there is to know about your visa application.
Step 3 – Gathering Supporting Documents
During this stage, we will:
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send you a one-in-all, comprehensive and exclusive checklist for all the supporting documents you will need to provide and the checklist:
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outlines the detailed requirements (e.g. format, word limit, size limit, points of emphasis and information to be included and excluded) for each and every document you will need to provide
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contains critically useful templates not available anywhere else that are highly relevant to your visa application, for example, for work reference, employment contract and relationship statement depending on the type of visa you apply for
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working closely with you throughout to ensure supporting documentation is collected and done just right
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compile and filter your documents, retaining only the relevant ones and leave out those not to-the-point. Remember: it’s not ‘the more, the better’ when it comes to a visa application. Rather, being selective about what to submit and how to present it is actually more important
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clearly label and cross-reference your documents to ensure they are in the most organised and presentable manner in the eyes of the Immigration
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stay in touch with you by phone and email and you are also more than welcome to visit our office to chat to us in person
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clarify any doubts or questions you may have regarding your application so you can stay on top of things
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when ready, draft and submit EOI, skills assessment application, state/territory nomination application and visa application for you
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drafting certain legal documents for you where appropriate to make things easier for you
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keep you in the loop of any migration law update that may affect you, especially your visa eligibility
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thoroughly review all supporting documents you sent through to us
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correct errors in documents we received where appropriate or let you know exactly where and how you need to rectify an issue
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remind you of outstanding supporting documents via phone or email so that you are fully aware of where we are on your application anytime
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liaise with your partner (for partner visa application) or employer (for employer-sponsored visas) for missing information or clarification where necessary
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liaise with other third parties involved, including but not limited to skills assessing authorities, state/territory governments and the Immigration on your behalf to seek clarification on key information
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conduct a final review of your supporting documentation before the final submission
Step 4 - Submitting Your Visa Application
Upon the completion of the final review of, we will:
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attach all supporting documentation to your application
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submit your visa application to the Immigration
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email through the receipts for visa application fees for your record
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advise you of the most updated visa processing time so you know what to expect
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email you the bridging visa grant letter if applicable so you can breathe a sigh a relief and remain in Australia without having to leave while your application is being processed by the Immigration
Step 5 – After the Submission Until a Decision Is Made by the Immigration
Following the submission, we will:
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constantly keep an eye on your lodged application
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liaise with the Immigration in a timely manner, ensuring nothing slips through the cracks where the Immigration requires additional supporting documents and/or information, which is fairly common because it is a judgement call by the Immigration officer at the end of the day despite the seemingly straightforward visa criteria
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decide on the best approach to addressing the Immigration’s query by drawing on our nearly 20 years of expertise
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keep you updated should there be any notifications from the Immigration
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assist you in preparing the requested documents and/or information and submit them on your behalf
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chase up your application with the Immigration, especially when it has gone beyond the expected timeframe
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instruct you on when and how to book health examination and obtain police clearance
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notify you of the application outcome
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if application is successful - send you the visa grant letter and explain to you your employment and residence rights and the range of benefits you are entitled to
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if application is unsuccessful - properly advise you on your options moving forward to eventually obtain the visa you are after
