Why applying for a 188 visa in Australia?
The Business Innovation and Investment (Provisional) visa (subclass 188) in the Premium Investor stream is designed for individuals nominated by Austrade who are willing to invest a minimum of AUD15 million in Australian investments and/or philanthropic contributions. With this visa, applicants can engage in investment activities within Australia and reside in the country for a period of 4 years and 3 months. Additionally, eligible family members can accompany the main applicant. Furthermore, holders of this visa can apply for a permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888) under the Premium Investor stream.
Cost overview
The visa fee for the main applicant is AUD9,455.00. Additionally, there are charges for each accompanying family member:
- Family members over 18 years old: AUD4,725.00
- Family members under 18 years old: AUD2,365.00
An extra charge applies to applicants 18 years old or older with less than functional English. This is the second installment, payable upon request. 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. 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
You have the option to include members of your family unit in your visa application at the time of applying. Additionally, you can add your dependent child to your application before a decision is made. Family members applying for the visa must fulfill our health and character requirements.
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
When applying, you have the option to include family members in your application, including dependent children, before our decision is made. Family members applying for the visa must satisfy our health and character criteria.
For the primary applicant to receive the visa, family members not accompanying them to Australia must meet our character standards and may need to fulfill our health requirements.
Your obligations
You and your family members included in your application must adhere to all visa conditions and Australian laws.
For applicants of the Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream, a genuine commitment to maintaining business and investment activity is essential.
Moreover, you must retain your investment of AUD15 million for a minimum of 12 months and comply with Australian workplace laws.
Learn more about conditions for this visa.
You must also meet certain business obligations and obey Australian workplace laws.
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.
Travel
While your visa is valid, you have the freedom to travel outside Australia and return as frequently as you wish. It’s important to note that the duration of your time spent outside Australia does not affect the validity of your visa.
Visa label
Your visa will be digitally linked to your passport. You will not receive a physical label in your passport.