188C Business Visa (Significant Investment)
The 188C Business Visa is for people that would like to make an investment of AUD 5 million in Australia. It is applicable only for applicants that have been nominated by an Australian State or Territory. This 4 year temporary visa requires the applicant to submit an Expression of Interest or EOI through SkillSelect.
- The applicant for this visa must be nominated by an Australian State or Territory.
- Submit an Expression of Interest through SkillSelect.
- In order to apply, the applicant can be in Australia or even overseas. If the applicant in Australia, it is essential to hold a Substantive Visa or a Bridging A, B or C Visa.
- The applicant is required to make an investment of AUD 5 million in a complying investment Australia.
The complying investment must comprise of:
- A minimum of $500,000 in Venture Capital and Growth Private Equity funds that are invested in start-ups and small private companies.
- Should hold at least $1.5 million in approved managed funds that are invested in emerging companies that are listed on the Australian Stock Exchange
- The applicant must have a balancing investment of up to $3 million in managed funds.
On maintaining an investment in Australia for 4 years, the applicant can apply for Permanent Residence through the Business Innovation & Investment (Residence) SC 888 Visa.
Benefits of 188C Visa
- No upper age limit
- No requirement of the English Language
- No score or Points Test required
- If the applicant meets the extension requirement, the visa provides an extension at least 2 times for a period of 2 years each.
- It has a lower residence requirement of 40 days per year for the applicant and 180 days for their spouse to apply for the 888 Permanent Visa.