Business Innovation and Investment (Provisional) Visa (Subclass 188) – Significant Investor Stream
The Business Innovation and Investment (Provisional) (subclass 188) is valid for 4 years and is usually issued to businessmen wanting to start a business in Australia. It can be given to businessmen and investors who wish to invest in Australia.
Subclass 188 Significant Investor Visa
The subclass 188 has three streams, they are as follows:
- Business Innovation;
- Investor; and
- Significant Investor.
Advantages of the SIV 188 visa
- No upper age limit,
- No English Language requirement
- No Points Tests
- Lower residence requirement
Significant Investor Stream – Purpose
This stream is designed to attract foreign investors and connect them with Australian businesses to promote the growth of existing organisations. Australia boasts a modern and developed economy that has global connections to facilitate a resilient and secure environment for new foreign investors.
Significant Investor – Eligibility Requirements
The Significant Investor stream is designed for anyone that may want to invest in Australia. All persons that intend to apply for the Significant Investor stream of the subclass 188 visa must meet the following requirements:
- Received a nomination by a State or Territory in Australia before being invited to apply;
- Ability to show that they have at legally earned at least AUD $5 million and intended to be channelled into Australian investments and able to carry out such an investment;
- Clear immigration history without any previous or ongoing visa cancellation or refusal in Australia;
- Ability to carry out investments in Australia for at least a period of 4 years
- Applicants above the age of 18 must have a functional English, satisfy the mental health requirement and the character requirement
Business Visa Australia
For successful business owners, investors and senior executives who wish to settle in Australia, the Australian Business Visa Program is an encouraging pathway towards conducting your business opportunities in Australia.
Application Process
The application process can be broke down to seven distinct steps which are outlined below:
Step one – The applicant must confirm that they meet the general requirements for the Significant Investor stream.
Step two – The applicant must submit an expression of interest (EOI) to the Australian Department of Home Affairs. This allows the applicant to duly notify a State or Territory government about his or her interest in being nominated
Step three – Once nominated, the applicant will receive a formal invitation to submit a visa application.
Step four – Upon invitation, the applicant prepares the relevant documents and proceeds with the application within 60 days of the invite.
Step five – Lodgement of the application online.
Step six – Department of Home Affairs reviews and processes the application
Step seven – Once the application is approved, the visa grant notice will be sent to the applicant as proof they are allowed to commence employment in Australia.
The Significant Investor Visa (SIV)
The Significant Investor Visa (SIV) was introduced in 2012 by the Australian Government to enable foreign citizens with at least AU$5 million to obtain permanent residency in Australia by investing in complying Australian investments.
Benefits:
- This visa allows you to include your dependents during the application so that they can be able to be granted the same visa with you
- The right to live in Australia to carry out your investment pending when you can make an application for permanent residency
- The right to travel in and out of Australia at will without any form of restriction provided that the visa has not expired
- An opportunity to carry out study in any state or territory of Australia provided that such a program does not exceed 4 years which is the duration of the visa
- Opportunity to enrol in the Australia’s state – run health program known as Medicare
- The visa allows the holder to apply for an extension after expiry which would not exceed a total of 6 years including the earlier duration of 4 years
- The right to make an application for an permanent residency provided that such a person has been residing in Australia for a period of 2 years out of the 4 years duration of the visa although it does not need to be a continuous stay as the time calculated within the 4 years must show that you were resident in Australia for at least 2 years.
- The holder of this visa is free to get involved in investment activities with other foreigners provided that such investment is legally recognized and approved in Australia and same will be beneficial to Australia
- The legal right to sue and be sued for any breach of the laws of Australia. In other words, such a person is deemed to be a legal/juristic person in the eyes of the law.
Are you an established business person?
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Email: [email protected]
Tel: +61 (07) 3876 4000
The Significant Investor Visa (SIV) offers a four-year pathway to permanent residency for entrepreneurial and high net worth individuals willing to make substantial complying investments in areas of the Australian economy that will drive innovation and the commercialisation of Australian ideas.
We will help you exploring visa options and securing application. No Borders Migration is experienced in the migration and partner visa application, and our lawyers have extensive knowledge in the legal requirements, eligibility criteria, and the supporting documents required. Simply dial 07 3876 4000 or email: [email protected] and let us help you start wtih your way towards obtaining Significant Investor Visas.
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