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 Australia Investment Immigration Program – VISA 188/888

The Australia Investment Program Visa 188 – is a state / territory nomination visa.

Principle Applicant with legal family members (spouse and unmarried children under 18) will be granted a temporary visa (Visa 188 – Provisional visa) with a period of 4 years 3 months, renewable in two years later, or continue applying for a permanent residence visa (Visa 888 – Permanent Residence).

The strength of the program is the relatively quick time to process the application, simple documentation and easy financial substantiation.

Visa 188 provides an opportunity for investors and their families to do business and contribute to the provincial economy, facilitate travel between Australia and Vietnam, and enjoy educational, medical, and social security benefits in Australia.

Visa 188 includes 2 main categories:

a. Business Innovation Stream  188A

b. Subclass 188B; 188C; 188C*

Visa 188 Program Benefits:x

  • Enterprise Extension and Development
  • Citizenship opportunity for the whole family
  • Relatives Sponsorship
  • Return to Vietnam at any time.
  • Enjoy all benefits from Australian government

1st Investment Streamx

Business Innovation Stream – Visa 188A

Requirements for Applicant: 

  • Applicant are nominated by a state or territory government or Austrade on behalf of the Australian government
  • Applicant are invited to apply
  • Applicant (and all members of your family unit ) meet certain health and character requirements
  • Be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
  • Score at least 65 on the points test. Please see the Points test tab on this webpage for further information.
  • For two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD 500.000 turnover in each of those years.
  • own at least one of the following percentage of your nominated main business:
    + 51 per cent, if the business has a turnover of less than AUD 400.000 per year
    + 30 per cent, if the business has a turnover of AUD 400.000 or more per year
    + 10 per cent, if the business is a publicly listed company
  • Have an overall successful business career
  • At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD 800.000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
  • Applicant and their partner must have had no involvement in unacceptable business or investment activities.

Conditions to permanent residence visa (Subclass 888):

  • Had an ownership interest (and continue to have an ownership interest) and a direct and continuous management role in an actively operating main business (or main businesses) in Australia for the two years immediately before you apply.
  • Had an annual turnover of at least AUD 300.000 from the main business (or businesses) in the 12 months before you apply. (A nominating state or territory might agree to waive the requirement to show an annual turnover of AUD 300.000 if you live and operate business in a specified regional area of Australia)
  • owned at least one of the following percentages of the main business (or main businesses) in Australia in the year immediately before you apply:
    + 51 per cent of a business with a turnover of less than AUD 400.000 per year
    + 30 per cent of a business with a turnover of AUD 400.000 or more per year
    + 10 per cent of a publicly listed company
  • Obtained an Australian Business Number for each of your main businesses
  • Submitted Business Activity Statements to the Australian Taxation Office for the two years immediately before you apply.
  • Not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890, 891, 892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.
  • Applicant (or their partner, or applicant and their partner together) must also demonstrate that you have achieved at least two of the following requirements:a net value of business assets of at least AUD 200.000 in your nominated main business (or two main businesses) in Australia throughout the year immediately before you apply
    + A net value of personal and business assets of at least AUD 600.000 in Australia throughout the year immediately before you apply
    + Employed at least the equivalent of two full-time employees in your main business (or main businesses), throughout the year immediately before you apply who are:
    + Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
    + Not members of your family.

2nd Investment Streamx

Business Investor – Visa 188B

Requirements for Applicant:

  • Applicant are nominated by a state or territory government or Austrade on behalf of the Australian government
  • Applicant are invited to apply
  • Applicant (and all members of your family unit ) meet certain health and character requirements
  • Be under 55 years of age, although a state or territory can waive this requirement if your proposed investment will be of exceptional economic benefit to the nominating state or territory
  • Score at least 65 on the points test. Please see the Points test tab on this webpage for further information.
  • Have a high level of management skill in relation to the eligible investment or qualifying business activity
  • Have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
  • Have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured
  • Have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment.
  • For at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following:
    + A qualifying business in which you, your partner or you and your partner combined had at least 10 per cent ownership interest, or
    + Eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5million.
  • During the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD 2.25 million that are available for legal transfer to Australia within two years of the visa being granted
  • Make a designated investment of at least AUD 1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory

Conditions to permanent residence visa (Subclass 888):

  • If you are applying for this visa in the Investor stream, you must have been in Australia and held your provisional visa in the Investor stream for at least two of the four years immediately before you apply.
  • In addition, you (or you and your partner combined) must have held a designated investment with an Australian state or territory for at least four years.
  • If you applied for your provisional visa (subclass 188) in the Investor stream prior to 1 July 2015, you are eligible to apply for a subclass 888 visa after holding your provisional visa for 3 years and 11 months. If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

3rd Investment Streamx

Significant Investor Visa 188 (SIV) – Visa 188C

Requirements for Applicant:

  •  Applicant are nominated by a state or territory government or Austrade on behalf of the Australian government
  • Applicant are invited to apply
  • Applicant (and all members of your family unit ) meet certain health and character requirements
  • You must have a genuine and realistic commitment to:
    + Reside in the state or territory whose government agency nominated you,
    + Continue your business and investment activity in Australia after the conclusion of your provisional visa
  • For applications made after July 2015 you must make a complying significant investment of at least AUD 5 million over four years in the following proportions:
    + At least AUD 500.000 in venture capital and growth private equity funds which invest in start-ups and small private companies.
    + At least AUD 1.5 million in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.
    + A ‘balancing investment’ of at least AUD 3 million in managed funds that may invest in a range of assets, including ASX-listed companies, Australian corporate bonds or notes, annuities and commercial real estate.
  • You and your partner must not have been involved in unacceptable business or investment activities.
  • You, members of your family unit aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment.
  • Income that you earn from your complying investment in Australia is subject to tax under Australian taxation law.
    You must also make a complying investment or a complying significant investment of at least AUD 5 million over four years

Conditions to permanent residence visa (Subclass 888): : 

  • You must have been in Australia as the holder of a provisional visa (subclass 188) in the Significant Investor stream or the Significant Investor extension stream for at least 40 days per year (calculated cumulatively) for the period of time you have held your provisional visa(s), or your spouse has been in Australia for at least 180 days per year (calculated cumulatively) on the basis of the period of time the primary applicant has held their provisional visa(s).
  • In addition, you (or you and your partner combined) must have:
    + Held complying investments continuously for at least 4 years while holding your Business Innovation and Investment (Provisional) visa (subclass 188).
    + Operated a qualifying business under the private Australian company in which you have made a direct complying investment if applicable.
    + Note that the rules in force at the time you applied for you original subclass 188 visa in the Significant Investor stream will apply to you when your application for a subclass 888 visa is assessed.
  • If you applied for your provisional visa (subclass 188) in the Significant Investor stream prior to 1 July 2015, you are eligible to apply for a subclass 888 visa after holding your provisional visa for 3 years and 11 months. If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

4th Investment Streamx

Premium Investor Visa 188 (PIV)  – Visa 188C*

Conditions for Applicant:

  • Applicant are nominated by a state or territory government or Austrade on behalf of the Australian government
  • Applicant are invited to apply
  • Applicant (and all members of your family unit ) meet certain health and character requirements
  • Australian government only. You must make a complying investment of at least AUD 15 million in any of the following options:
    + Australian securities exchange listed assets.
    + Australian government or semi-government bonds or notes.
    + Corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the + Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an AFS licenced debt rating agency.
    + Australian proprietary limited companies.
    + Real property in Australia excluding residential property.
    + Deferred annuities issued by Australian registered life companies.
    + State or territory government approved philanthropic contribution.
  • You must also have a genuine and realistic commitment to continue your business and investment activity in Australia after the conclusion of your provisional visa.
  • You, your partner (spouse or de facto), or you and your partner combined must have net assets of at least AUD 15 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.
  • You and your partner must not have been involved in unacceptable business or investment activities.
  • You, your partner and other family members aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment.
  • Income that you earn from your complying investment in Australia is subject to tax under Australian taxation law.

Conditions to permanent residence visa (Subclass 888):

  • You must have held your provisional visa for a minimum of 1 year.
  • You (or you and your partner combined) must have held complying premium investments continuously for at least 1 year, and for the entire time you have held your Business Innovation and Investment (Provisional) visa (subclass 188)

Visa 188A Processx

Step 1

 

2 months

Prepare documentation                                                                                                             

Step 2

 

1-2 months

Apply Expression of Interest (EOI)                                                                                             

Step 3

 

2 months

Be Invited to apply for a visa: • Implement documentation (if necessary)• Apply for visa                                                                                                                                                            

Step 4

 

More than 9 months

Australian Immigration Department receives and reviews documentation                                       

Step 5

 

Australian Immigration Department sends notice: Dossiers is approved + Invitation to invest                                                                       

Step 6

 

2 -6 months

Liquidate enumerated property to invest                                                                                                                                                       

Step 7

 

• 188A: Granted a 188 visa (4 years validity + 2 year extension) and permanent residence visa 888 (if eligible).
• 188B: Granted a 188 visa (4 years validity , no extension) and permanent residence visa 888 (if eligible).
• 188C: Granted a 188 visa (4 years validity + 2 renewals) and permanent residence visa 888 (if eligible).
• 188C*: Granted a 188 visa (1 year validity) and permanent residence visa 888.

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