Choosing to move to Australia is a very exciting decision – congratulations!  Now the question is, which visa is right for you?  If you are able to invest, the 188C visa otherwise known as the Significant Investor visa (SIV) may be right for you.  But what is it and how does it work?

CLICK HERE to know everything about the  Investor visa (SIV)

您想要阅读中文版本吗？请点击这里

1.     Why Would I Want the 188C SIV Significant Investor Visa?

The 188 Subclass is a group of visas for people looking to invest in Australia.  There are a number of visa types in this subclass which vary in their conditions based on the value of the investment made.  Compared to other business visas, the 188C has the following advantages:

• No upper age limit;
• No English language requirement;
• No points test;
• Able to bring eligible dependants (spouse/partner, dependent children up to 23 years old);
• No academic qualification requirement;
• No business management skills or fund management experience requirements;
• May be applied for from within Australia or outside Australia;
• Ability to extend visa (up to 8 years in total);
• Flexible residential requirement (you need only reside in Australia 40 days per year);
• Pathway to permanent residency.

Of course, the biggest attraction factor for many is that the 188C SIV offers successful applicants a direct pathway to permanent residency in Australia.

Work Visa Lawyers can help with your application for a 188C SIV Significant Investor visa.

2.     Who Can Apply for SIV Australia?

The 188C SIV Significant Investor visa is open to applicants with high assets and a high income, who are willing to make a AUD 5 million investment in Australia.

Key Criteria：

The applicant and/or their spouse must:

1. Have net personal assets of AUD 5 million;

2. Be nominated by an Australian state or a territory or the Australian Trade and Investment Commission (Austrade);

3. Be willing and able to make an investment of AUD 5 million into a complying significant investment fund.

3.     How Do I Become a Permanent Resident?

188C SIV Significant Investor visa holders are eligible to become permanent residents of Australia if they:

• Hold the AUD 5 million complying investment for 4 years;
• Either spend 160 days in Australia, or their spouse spends 720 days in Australia; and
• Are nominated by an Australian state or a territory, or Austrade.

Permanent Residency does not happen automatically though – you must apply for it!  At Work Visa Lawyers, we can help with this aspect of the visa process too.

4.     What Happens To the Money I Invest?

One of the most common questions we get asked about the 188C SIV Significant Investor visa is, “what happens to the money I invest?”  Once you have signed up, your money is invested into managed funds which the Australia Government identifies as being beneficial to Australia.  These are used to boost the national economy.

The investment is split into:

• AUD 500,000 in venture capital and growth private equity funds which will invest in start-ups and small private companies;
• AUD 1.5 million in approved managed funds which must invest in new companies listed on the Australian Stock Exchange; and
• a ‘balancing investment’ of at least AUD 3 million in managed funds.

The money must remain invested for at least 4 years, although it may be transferred to another complying investment during this period.

You remain the legal owner of the money during and after the investment period and if your investment grows, that growth belongs to you too (subject to Australian tax law).  Once the minimum investment period is complete, your investment is returned to you and you may use it as you wish.

Of course, as with any investment, there is a chance of financial loss.  You should always obtain advice from an experienced lawyer and an independent  financial advisor before making this kind of decision*.  Make an appointment with Work Visa Lawyers today to discuss whether this is the right visa for you.

*Work Visa Lawyers are not financial advisors and cannot provide you with financial advice – you should also speak with an independent financial advisor before making this decision.

5.     How Do I Apply For a 188C SIV Significant Investor visa?

If you meet the requirements in point 2, you can apply for a 188C SIV Significant Investor visa from anywhere in the world.  First, you will need to lodge an Expression of Interest (EOI) with either the state or territory in which you wish to reside, or with Austrade.  Work Visa Lawyers proudly recommends South Australia, but we can assist with your application to any state, territory or Austrade.  The state/territory or Austrade will assess your EOI and if you meet the criteria, they will nominate you for a Significant Investor 188C visa.  Once you are nominated, you will need to submit an application, complete with evidence that you meet the requirements.

To ensure your application is completed correctly and give you the best chance of success, you should engage an experienced immigration law firm like Work Visa Lawyers to draft and lodge your paperwork for you.

Applying from within Australia

If you are already in Australia and want to stay here while you wait for your 188C SIV Significant Investor visa application to be processed, you may need another visa for the duration, usually this will be a Bridging Visa.  There are 2 options depending on your situation.

-Bridging Visa A

Bridging Visa A (BVA) allows applicants to stay in Australia until a visa decision is reached. The BVA does not have a travel facility however, so should you wish to travel outside of Australia for any reason while waiting for your visa, you will need to apply for Bridging Visa B.

-Bridging Visa B

Bridging Visa B (BVB) allows applicants to leave and return to Australia whilst awaiting a decision on visa applications.  This visa is ideal if you have business or personal needs to attend to outside Australia, but wish to return.

Applying from Outside Australia

Applying from outside Australia is ok too!  Work Visa Lawyers has Immigration Lawyers and Registered Migration Agents available for consultation at a time that suits you via Zoom, over the telephone, or face to face in our Adelaide office.  Our staff speak many languages and we can arrange an interpreter if you would like one.

6.     Who Is Applying For the 188C SIV Significant Investor visa?

Since the launch of SIV program in November 2012, the bulk of applications originated in the following 5 main countries and regions, primarily in Asia.  This is in part due to Australia’s geographical proximity to Asia, but Australia is also an ideal location for lifestyle, universities and healthcare, global business, and financial security.

Applications were from:

• Mainland China, 84.8%
• Hong Kong, 5.1%
• Vietnam, 1.3%
• Malaysia, 1.2%
• South Africa, 1.1%

7.     Changes Are Coming Soon!

This article is correct at the date of publication but changes are coming! In April 2023, the Minister Clare O'neil confirmed that the Business Innovation and Investment Program will not be abolished. However, a radical restructure is needed to attract highly skilled people who will create the future jobs for Australians.

Author:

Wendy Guan, Registered Migration Agent at Work Visa Lawyers

Do you need help?

Our team of experienced Immigration Lawyers and Migration Agents look forward to assisting you with your Australian visa or appeal.

Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956 or This email address is being protected from spambots. You need JavaScript enabled to view it.

You can also subscribe our Facebook: WORK VISA lawyers

SOURCES:

https://www.homeaffairs.gov.au/research-and-statistics/statistics/visa-statistics/work/significant-investor-visa

https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-188

On 28 October 2021, new laws were released in Australia to make immigration from Hong Kong easier. The new Migration Legislation Amendment (Hong Kong) Regulations 2021 will allow Hong Kongers who are currently working or studying in Australia to achieve permanent residency quickly and easily.

This follows the changes already made in July to give Hong Kong applicants priority processing for skilled visas. 

Two pathways to Australian Permanent Residence will be available to both Hong Kong SAR passport and British National (Overseas) passport holders from 05 March 2022. 

Since the outbreak of Covid, thousands of international students have been stranded overseas. Most of them choose to continue their studies online while they are in their home country but this raises the question... if the Student Visa expires during this time, do you need to apply for another Student Visa?

While Covid is keeping most Australian states and territories closed for offshore applicants, South Australia announced in May 2021 that it is now considering sponsoring offshore applicants for 491 and 190 visas.

Since Australia closed its border in 2020 due to Covid, international students have been locked out of the country where they are enrolled to study.  This crisis is escalating as thousands of people’s lives are thrown into turmoil, and the Australian economy suffers from the loss of this lucrative industry.  As months turn into years, the growing frustration and resentment can be heard echoing through the internet as students, universities, and Australian businesses cry out for a return strategy.

In a speech given to the Royal Melbourne Institute of Technology, Federal Minister Alan Tudge said the country would not see a return of international students until 2022 but are students willing to wait until then?

UPDATED 13 MAY 2021

Australia's current allocations of places for skilled migration and business visa nominations. 

Rebrand to “Move to South Australia - Skilled + Business Migration”

https://www.migration.sa.gov.au/ now has a new look.

We noticed that Immigration South Australia has changed its name to Move to South Australia.

Move to South Australia has updated its criteria for interim 491 and 190 nominations to support and prioritise South Australia’s economic recovery and public health response. 

Trades Recognition Australia, also known as TRA, is the skill assessment authority for trade occupations. For example, occupations such as chefs, bricklayers, electricians and plumbers are all assessed by TRA.

TRA assesses whether the applicant’s qualifications, skills and employments meet Australian standards for migration purposes.

There are several assessment pathways and it is important that you choose the correct one to apply for.

• Acceptance of the new requirements
• Explanation of what your contribution to the recovery will be (200 words or less) in either:
  • Business activity
  • Investment activity

This is according to news published by Live in Melbourne. We expect further information following the Federal Budget around 6 October 2020.

Victoria Skilled Migration - 491 visa and 190 visa

The Department of Home Affairs has confirmed that Victoria continues to use the interim allocation places beyond 5 October 2020. 

By 02 October 2020, Victoria's temporary allocation for 2020-21 were: 

• 600 places for skilled subclass 190
• 200 places for skilled subclass 491
• 400 places for the business innovation and investment program

Victoria has received more than 2,400 registrations of interest received from skilled migrants, and more than 480 application from business migrants.

On 26 November 2020, Victoria has annouced that the skilled program (subclass 190 and subclass 491) remain closed to new applications. They continue to select high calibre skilled migrants for nomination from the pool of Registration of Interest submissions.

Once Victoria receives confirmation of its full 2020-21 nomination allocations for the skilled and business migration programs, it would reopen its 2020-2021 nomination for 491 visa and 190 visa soon.

It will only select applicants to apply for Victorian visa nomination if their Registration of Interest demonstrates they are working in health or medical research and contributing to Victoria’s economic recovery and/or health response.  

To be considered for Victorian visa nomination, you must submit a Registration of Interest for Victorian State Visa Nomination.  Applicants who register their interest may then be selected to apply for Victorian visa nomination.  

To be eligible to submit your Registration of Interest (ROI) for Victorian visa nomination (subclass 190 and 491) you must

• be currently living in Victoria, and
• be currently employed in Victoria (minimum six months), and
• work in a highly-skilled occupation in health or medical research, which supports Victoria’s economic recovery and/or health response

VIC will then select the best candidates to apply for Victorian visa nomination.

We are expecting a further update from Live in Melbourne following 6 October 2020.