Why applying for a 188 visa in Australia?
With this visa, you can engage in investment activity in Australia and reside in the country for up to 5 years. Additionally, you have the option to bring eligible family members with you. Moreover, if certain requirements are met, you can apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) under the Significant Investor stream.
Cost overview
The visa application fee for the main applicant is AUD13,860.00.
Additionally, there is a fee for each family member included in the application:
- Additional applicant over 18 years old: AUD6,930.00
- Additional applicant under 18 years old: AUD3,470.00
An extra charge applies for applicants at least 18 years old at the time of application who are assessed as not having functional English and have not paid the second installment of the visa application charge for a Business Innovation and Investment (Provisional) (subclass 188) visa. This charge is payable only upon request, and we will refund it if the visa is not granted.
The second installment charges are:
- Main applicant: AUD9,795
- Family members: AUD4,890
To determine the exact cost of your visa, you can use the Visa Pricing Estimator. Please note that the estimator does not include the second installment or other associated costs such as health checks, police certificates, and biometrics.
Visa processing times
Visa processing times may vary depending on various factors such as the completeness of the application, the number of applications received, and the complexity of individual cases. You can check visa processing times on the official website of the Department of Home Affairs Australia using the following link: Visa Processing Times.
Duration of your stay
This is a provisional visa, allowing you to stay in Australia for up to 5 years if you received an invitation to apply on or after 1 July 2021. If you applied after 1 July 2015 and were invited to apply before 1 July 2021, the maximum stay is up to 4 years and 3 months. For applications submitted before 1 July 2015, the duration of stay is 4 years. The visa is issued with multiple entries, enabling you to leave and re-enter Australia as needed while the visa remains valid. It begins on the date of grant.
Our team at Luminedge Legal Group is here to guide you every step of the way. Book a meeting today with one of our lawyers. And discover more about your visa options and Immigration success
Include family members
You can include your dependent child or children in your application at any time before we make a decision. They must meet our health and character requirements, if applicable.
If the spouse or de facto partner of the main applicant did not apply together initially, they can submit a subsequent entrant application. However, a subclass 188 visa for subsequent entrants can only be granted after the main applicant’s subclass 188 visa is approved.
To apply for a Business Innovation and Investment (Subsequent Entrant) Visa, complete the online application form in ImmiAccount. An application charge applies.
For the main applicant to receive the visa, family members who are not relocating to Australia must meet our character requirements and may need to satisfy our health requirements.
Your obligations
You and all family members included in your application must adhere to all visa conditions and comply with Australian laws.
Learn more about conditions for this visa.
Health Insurance
It is advisable to obtain health insurance to cover any unexpected medical expenses during your stay in Australia. You are responsible for all healthcare costs incurred while in the country, and having insurance can mitigate financial risks.
To ensure adequate coverage, please review our recommendations for suitable health insurance options. Additionally, learn more about health insurance for overseas visitors to understand your options better.
Certain countries have reciprocal healthcare agreements with Australia. For more information on these agreements, visit the Department of Human Services website.
Meet your business obligations
While holding this visa, you must demonstrate a genuine and realistic commitment to:
Intend to live in the State or Territory whose government agency nominated you, either by yourself or with your spouse or de facto partner.
Continue business and investment activity in Australia after your visa expires.
Furthermore, you are required to maintain your investment throughout the visa period and comply with Australian workplace laws.
To qualify for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, you must also meet the residency requirement. This entails either residing in Australia for at least 40 days per year for the duration of your provisional visa or having your spouse or de facto partner reside in Australia for at least 180 days per year during the provisional visa period. These days do not need to be consecutive.
Travel
While your visa is valid, you are permitted to travel outside of Australia and re-enter the country as frequently as you wish. It’s important to note that the duration of your visa does not get extended based on the time spent outside Australia.
Visa label
Your visa will be digitally linked to your passport. You will not receive a physical label in your passport.