Why applying for a 188 visa in Australia?
With the Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream, holders can enjoy several benefits. This visa allows individuals to conduct investment activities within Australia and includes provisions for bringing eligible family members along. Moreover, holders of this visa are eligible to apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) under the Significant Investor stream, provided they meet the requisite criteria. Overall, this visa pathway offers flexibility and opportunities for long-term investment and residency in Australia.
Cost overview
The visa fee for the main applicant is AUD1,135.00.
There is an additional charge for each family member included in the application:
- For applicants over 18 years old: AUD575.00
- For applicants under 18 years old: AUD285.00
Applicants aged 18 or older 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 their Business Innovation and Investment (Provisional) (subclass 188) visa will be required to pay an extra charge. This charge will be requested only when necessary and will be refunded 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. 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
Depending on your circumstances, the duration of stay under the Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream varies:
- Invited on or after July 1, 2021, with a subclass 188 Significant Investor stream: 7 years from original grant date.
- Invited before July 1, 2021, with a subclass 188 Significant Investor stream: 6 years from original grant date.
- Invited on or after July 1, 2021, with a subclass 188 Significant Investor Extension stream: Up to 9 years from original grant date.
- Invited before July 1, 2021, with a subclass 188 Significant Investor Extension stream: 8 years from original grant date.
This visa allows multiple entries, permitting you to enter and leave Australia as desired while the visa remains valid. The visa validity commences from 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 members of the family unit in your application when you apply. Additionally, you can add dependent children to your application at any time before we decide on your application.
Family members who apply for the visa must meet our health and character requirements.
For the main applicant to be granted the visa, family members who are not coming to Australia must meet our character requirements and may also need to meet our health requirements.
Your obligations
You and your family members included in your visa application must adhere to all visa conditions and comply with Australian laws.
Learn more about conditions for this visa.
Health Insurance
We advise obtaining health insurance to cover any unexpected medical expenses you may incur while in Australia. You are personally responsible for all healthcare costs during your stay. Insurance can mitigate your financial risk in case of medical emergencies.
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 visa obligations
To qualify for the Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, you must reside in Australia for a minimum of 40 days per year throughout the validity of your provisional visa. Alternatively, your spouse must reside in Australia for at least 180 days per year during the same period. These days do not need to be consecutive.
Travel
While holding this visa, you have the freedom to travel outside Australia and return as often as you like while the visa remains valid. Your time spent outside Australia does not affect the duration of the visa.
Visa label
Your visa will be digitally linked to your passport. You will not receive a physical label in your passport.