visa” because of its simple application conditions and high investment. The annual snapshot of Australian immigration shows that in 2020-21, China overtook India for the first time and became Australia's main source of migrants, (occupying 22,207 immigration quotas, a substantial increase compared with 2020), basically recovering to the pre-pandemic level. Among the applicants for the 188C visa, immigrants from Hong Kong and the Chinese mainland accounted for 89.9%; it can be said that the 188C immigrant visa is almost covered by Chinese.
But in September last year, Australia announced the news that the 188C visa was going to be cancelled or revisited. Therefore, friends who meet the conditions of the 188C investment immigration visa and are interested in immigrating to Australia should seize the opportunity to do so now.
What is the 188C immigrant visa?
The Australian 188C Significant Investor Stream, also known as the 188C Investment Migration Visa, is one of the 188 visa categories for Australian business immigrants. It is suitable for applicants who are willing to invest at least AUD $5 million in Australia, and want to maintain business and investment activities in Australia.
188C visa applicants need to be nominated by an Australian state or local government, or by the Australian Business Commission on behalf of the Australian Government. Holding the 188C immigrant visa is the first stage of qualifying for the Business Innovation and Investment (Permanent) visa (888 visa).
The 188C visa was previously valid for four years and three months, with its validity period being adjusted to 5 years after July 1, 2021. If the applicant needs additional time to meet the requirements of the permanent residence visa (subclass 888), the applicant can extend their time in Australia by extending the visa.
188C temporary visa holders can apply for a 4-year extension visa, so the visa is then valid for up to 8 years.
The main advantages of the 188C investment immigration visa
No age limit;
No English requirement:
No scoring requirements;
Fast approval speed;
Relaxed residency requirements (can apply for two extensions);
Eligible immediate family members can apply for temporary residence and corresponding permanent residence visas;
Visa holders are free to travel to and from Australia; and
During the visa period, children can attend Australian public primary and secondary schools.
The general requirements for the 188C visa
Be invited to apply;
Guaranteed by the state government;
Have successful business or investment experience;
Have sufficient personal and business assets;
Invest at least $5 million in Australia;
The applicant and all family members must meet certain health and conduct requirements; and
Applicants aged 18 orover must sign an Australian Values Statement confirming that the applicant will respect the Australian lifestyle and comply with Australian law.
188C visa application requirements
If, after meeting the requirements for the 188C immigrant visa, the applicant wants to switch to the 888 permanent visa, he or she needs to have a real and achievable commitment to:
Reside in the nominating state or territory;
Continue to operate and invest in Australia after the expiry of the 188C temporary visa;
During the period of holding the 188C temporary visa, the applicant has resided in Australia for at least 40 days per year (cumulative), or his or her spouse has lived in Australia for at least 180 days per year (cumulative);
The applicant, the applicant's partner or the applicant and his/her partner jointly have a net asset of at least AUD $5 million, which is at the disposal of legitimate income and can be used to make a qualifying investment in Australia;
The applicant and his/her partner have not engaged in unacceptable business or investment activities;
188C temporary visa applicants and family members over the age of 18 must agree not to take any action against the federal government for any losses associated with qualifying investments;
According to Australian tax law, income earned by 188C from designated investments in Australia is subject to tax; and
188C temporary visa applicants must make a qualifying investment of at least AUD $5 million or a qualifying major investment for 4 years.
Compliant major investment applications after 1 July 2021 (4-year significant investment of $5 million for the following businesses):
At least $1,000,000 in venture capital and growth private equity funds to invest in start-ups and small private businesses ($500,000 before 1 July 2021);
At least AUD $1.5 million of approved managed funds invested in ASX listed emerging companies; and
Balanced investments of up to $2.5 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 (July 2021). The investment amount before 1 day is 3 million Australian dollars).
The 188C visa application process
Submit an Application for Immigrant Intent (EOI).
Apply for and obtain a state guarantee.
Get an EOI invitation.
Complete the asset audit.
Submit application materials.
Obtain an interview or exemption from interview notice and supplement materials.
Physical examination, payment of English contribution fund.
Visa signed.
The 188C investment immigration visa application fee
State sponsorship application fee; depending on the state standard, ranging from free to hundreds of Australian dollars.
Visa Application Fee:
Main applicant - AU$8,925
Secondary applicants over 18 years of age - AU$4,465
Dependent applicants under 18 years of age - AU$2,235
Language Training Fee:
If the main applicant does not have an IELTS TRF with a total score of 4.5, a language fee of AU$9,795 will be payable.
A spouse or accompanying children over 18 years of age who do not achieve an overall IELTS score of 4.5 will be charged a language study fee of AU$4,890 per person.
(Note: The above fees are subject to the final fee charged by the Australian immigration department).
Epilogue:
Australia is a country with high welfare and high taxes, and many wealthy Chinese have obtained Australian status quickly and simply through the 188C investment immigration visa. In view of the possibility that Australia may suspend these visas in the future because of the lack of follow-up power for Australia's economic development, now is the time to act. Applications are just open for 188C immigrant visas FY22/23, so applicants who sign up now can still submit and get an invitation letter to lock in the policy for the current fiscal year.
Alison’s Story
Born in Hong Kong an moved to Australia, I have been associated with real estate all my life. As the plane slowly landed on the runway of Melbourne Airport, my life and career also changed to another runway. I changed from a Hong Kong real estate agent to an Australian real estate agent, and successfully obtained the Australian lawyer qualification.
When I was working in a law firm, I was surrounded by highly educated professionals. Even though their wages are very well, and they are absolutely the elites in society, but their lives are full of hard labor, and it’s hard for them to get rich through buying properties.
So I spend all my time and effort on learning financial and real estate investment knowledge, hoping to achieve financial freedom as soon as possible, and let my parents who have worked hard for many years live a good life.
Now I will share with you the knowledge and experience of investing in Australian real estate, and embark on the road to financial freedom together.
Alison Australian real estate information platform
The original intention of Miss Alison to establish investwithalison.com is to provide neutral Australian real estate information through this platform and help investors establish the most suitable investment strategy.
👉Website: investwithalison.com
👉Email: hello@investwithalison.com
👉Linkedin: linkedin.com/in/alisonwongaustralia/
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