The steps for applying through the subclass 188B investor stream.
1. Submit an Expression of Interest to an Australian State or Territory. Each State and Territory can have unique criteria for nomination.
2.The State or Territory invites you to apply for the visa.
3.You can submit your visa application with supporting documents.
When you apply, you need to show evidence that you:
- are under 55 years of age at the time of application.
- can achieve a points test score of 65
- meet the English language requirement
- pass Australia’s character and health checks.
Your business experience and assets
You also need to show evidence of your business experience and assets that show you have:
- a high level of management skill in relation to the eligible investment or qualifying business activity
- at least 3 years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
- a successful record of activity in the eligible investment or qualifying business
- a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured
- a genuine intention to live for at least two years in the state or territory in which you have made a designated investment.
You, your partner, or you and your partner combined must:
- for at least 1 of the 5 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 2 fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million that are available for legal transfer to Australia within two years of the visa being granted
- make a designated investment of at least AUD1.5 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
- have had no involvement in unacceptable activities.
Permanent Residence Eligibility
To qualify for a permanent Business Innovation & Investment (Residence) Subclass 888 visa, you would need to meet the following criteria:
- You have been in Australia on your subclass 188B visa for at least 2 years, within the 4 years prior to lodgement
- Maintained your investment in Australian State or Territory securities for the last 4 years.