Investment Visa

Experienced investors and/or high-net-worth individuals who have at least $2.5M AUD or $5M AUD worth of funds to invest in Australia.

An Australian investment visa is for people who want to undertake investment activities in Australia. There are two visa pathways for investors who wish to obtain Australian permanent residency status. These are:

• Apply for a subclass 188 Investor stream (‘188b’) visa and then transition to a subclass 888 Investor stream (‘888b’) visa.
• Apply for a subclass 188 Significant Investor stream (‘188c’) visa and then transition to a subclass 888 Significant Investor stream (‘888c’) visa.

A 188b/188c visa can last for up to 5 years. However, it is possible to apply for a 888b/888c visa if you have held your 188b/188c visa for at least 3 years and you meet all of the eligibility criteria for a 888b/888c visa. If your 888b/888c visa application is approved, you will become an Australian permanent resident.

The eligibility criteria for a 188b visa are:

• You are under the age of 55, or if you are over 55, an Australian State or Territory government has determined that your proposed Australian investment activities will create an exceptional economic benefit.
• You have at least 65 points.
• You have an overall successful record of eligible investment activities or qualifying business activities.
• You have at least 3 years’ experience of direct involvement in managing one or more qualifying business or eligible investments.
• You have a high level of management skill in relation your eligible investment or qualifying business activity.
• For at least 1 of the 5 fiscal years before applying for a 188b visa you either:
  • Maintained direct involvement in managing a qualifying business and held at least a 10% ownership interest in the business; or
  • Maintained direct involvement in managing eligible investments (including investments held by your spouse or de facto partner) that are worth at least $2.5M AUD.
• For the 2 fiscal years before applying for a 188b visa you have assets that have a net value of at least $2.5M AUD (can include assets held jointly or by your spouse or de facto partner).
• You can invest at least $2.5M AUD in the following way:
  • At least 20% ($500,000 AUD) into a private equity or early stage venture capital fund.
  • At least 30% ($750,000 AUD) into an emerging companies fund.
  • Remaining 50% ($1.25M AUD) into an eligible managed fund (excludes funds that invest in residential property developments).
• You have a genuine intention to hold your investment for the whole period that you hold your 188b visa.
• The funds used to make your investment for your 188b visa application came from either:
  • One or more qualifying businesses conducted by you or your spouse or de facto partner; or
  • Eligible investment activities conducted by you or your spouse or de facto partner.
• Your assets were obtained lawfully and are able to be transferred to Australia within 2 years of you being granted a 188b visa.
• You have obtained a nomination from an Australian State or Territory government and you have a genuine intention to reside in this State or Territory for at least 2 years.

Please note that each Australian State and Territory government has their own eligibility criteria that will need to be met to obtain a nomination from them.

The eligibility criteria for a 188c visa are:

• You can invest at least $5M AUD in the following way:
  • At least 20% ($1M AUD) into a private equity or early stage venture capital fund.
  • At least 30% ($1.5M AUD) into an emerging companies fund.
  • Remaining 50% ($2.5M AUD) into an eligible managed fund (excludes funds that invest in residential property developments).
• You have a genuine intention to hold your 188c investments for the whole period that you hold your 188c visa.
• You can verify the source of the funds to be used for your 188c investments.
• You have obtained a nomination from an Australian State or Territory government and you, or your spouse or de facto partner, have a genuine intention to reside in this State or Territory.

Please note that each Australian State and Territory government has their own eligibility criteria that will need to be met to obtain a nomination from them.

The eligibility criteria for a 888b visa are:

• You continue to be nominated by an Australian State or Territory government.
• You have a genuine and realistic commitment to maintain investment activities in Australia.
• You have complied with any applicable Australian laws.
• You have resided in Australia for at least 2 years in the 3 years before applying for a 888b visa while holding a 188b visa.
• You have held your complaint 188b visa investments for the whole period that you held your 188b visa.

The eligibility criteria for a 888c visa are:

• You continue to be nominated by an Australian State or Territory government.
• You have a genuine and realistic commitment to maintain investment activities in Australia.
• You have complied with any applicable Australian laws.
• You meet the residency requirement by either:
  • Residing in Australia for at least 40 days for each year that you held your 188c visa; or
  • Having your spouse or de facto partner reside in Australia for at least 180 days for each year that you held your 188c visa.
• You have held your complaint 188c visa investments for the whole period that you held your 188c visa.

There are usually three steps involved in a 188b/188c visa application. These are:

1. Submit an Expression of Interest for a 188b/188c visa. This information is sent to the Australian State or Territory government that you are seeking a nomination from. If the State or Territory government is interested in nominating you for your 188b/188c visa application, they will invite you to apply for a nomination from them.
2. Submit a 188b/188c visa nomination application. Please note that some Australian State and Territory governments require you to submit a Registration of Interest application before they will consider inviting you to apply for a nomination from them.
3. Submit a 188b/188c visa application. If your nomination application is approved, you will receive an invitation from immigration to submit a 188b/188c visa application. Please note that this invitation usually has an expiration date of 60 days.

The application process above also applies for a 888b/888c visa application.

The government fees for a 188b visa application are:

• $9,450AUD for the main 188b visa applicant.
• $4,725AUD for any family members of the main 188b visa applicant who are over the age of 18.
• $2,365AUD for any family members of the main 188b visa applicant who are under the age of 18.

An additional government fee of $9,795AUD is payable if the main 188b visa applicant does not have ‘Functional’ English language abilities. An additional fee of $4,890AUD is also payable if a family member of the main 188b visa applicant who is over 18 does not have Functional English language abilities.

The government fees for a 188c visa application are:

• $13,860AUD for the main 188c visa applicant.
• $6,930AUD for any family members of the main 188c visa applicant who are over the age of 18.
• $3,470AUD for any family members of the main 188c visa applicant who are under the age of 18.

The additional government fees mentioned above that apply to 188b visa applicants that do not have ‘Functional’ English language abilities also applies to 188c visa applicants that do not have Functional English language abilities.

The government fees for a 888b and 888c visa application are:

• $3,310AUD for the main 888b/888c visa applicant.
• $1,660AUD for any family members of the main 888b/888c visa applicant who are over the age of 18.
• $825AUD for any family members of the main 888b/888c visa applicant who are under the age of 18.

An additional fee of $4,890AUD is payable if the main 888b/888c visa applicant, or a family member of the main 888b/888c visa applicant who is over 18, does not have Functional English language abilities.

There may also be additional costs involved in a 188b/188c and 888b/888c visa application for things such as translation fees and professional fees for third party service providers. 

The current processing times for Australian investment visas are:

• 23-44+ months for 188b visa applications.
• 14-22+ months for 188c visa applications.
• 888b processing times currently unavailable. 
• 34-38+ months for 888c visa applications.

Lucidian Law can assist with your investment visa application by:

• Introducing you to fund managers that meet the requirements for an investment visa application.
• Reviewing any proposed agreements between yourself and a fund manager.
• Introducing you to local accountants that can provide you with tax planning advice.
• Introducing you to local financial advisors that can provide you with independent financial advice.