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Australian immigration program by Visa 188 and 7 frequent questions
Australia is a country famous for its developed economy, high quality education, good living conditions and social security. This is an extremely ideal country for settlement and business development. Realizing the development potential of this country, investors all around the world increasingly have a tendency of investing in Australian settlement program.
What programs do Australian immigration investment programs – Visa 188 include?
From 1 July 2021, the business and immigration programs in Australia will be simplified from 9 to 4 types of visa. In particular, the Visa 188 type continues to receive applications. Visa 188 program has 3 investment forms, including:
- Creative Entrepreneur Program – Visa 188A
- Investment Program – Visa 188B
- Key Investor Program – Visa 188C
What are the new changes in the 188 Visa Program?
The Australian Department of Immigration has started to apply new policies for the Australian Visa 188 Immigration program. From July 1, 2021, the immigration policies and conditions have changed, specifically as follows:
Visa 188A – Creative Entrepreneur Program
Visa 188A is for investors with business ability. Entrepreneurs who want to establish and develop a business in Australia will be suitable for this program.
| Before 01 July 2021 | After 01 July 2021 |
| Temporary residence visa duration | 4 years and 3 months | 5 years |
Revenue of the company (2 out of the last 4 years) | 500.000 AUD/year | 750.000 AUD/year |
| Total assets and equity in the business (At the time of visa application) | 800.000 AUD | 1.25 million AUD |
Visa 188B – Investment program
Before 01 July 2021 | After 01 July 2021 | |
Temporary residence visa duration | 4 years and 3 months | 5 years |
Minimum net worth (in the last 2 years) | 2.25 million AUD | 2.5 million AUD |
Investment | 1.5 million AUD | 2.5 million AUD |
After July 1, 2021, the committed investment is AUD 2.5 million. Subclass 188B investments must be legally purchased and be transferable to Australia within 2 years of the visa being granted. Those investments include:
– At least AUD 500,000 in venture capital/private equity fund
– At least AUD 750,000 in approved management funds (this fund invests in growing businesses)
– At least AUD 1.25 million is invested in bonds, stocks,…
Visa 188C – Key Investment program
| Before 01 July 2021 | After 01 July 2021 |
| Temporary residence visa duration | 4 years and 3 months | 5 years (Can be extended visa 188C 2 times, each time for 2 years, extending the duration of visa 188C to 9 years) |
The investment level in Visa 188C remains the same at 5 million AUD. However, the proportion of capital invested in projects will change compared to before.
– Venture capital/private equity funds increased to 20% (AUD 1 million) instead of 10% (AUD 500,000) as before
– Investment capital in growing businesses remains at 30% (AUD 1.5 million)
– 50% (2.5 million AUD) of the remaining investment capital will be invested in stocks, bonds,…
What are the application conditions?
Conditions for submitting an application include:
- Investor nominated by an Australian State or Territory government agency before applying
- Have at least AUD 800,000 in total assets
- Pass the skill assessment with a minimum score of 65
- Maximum age is 55 years old
- Have not canceled any previous visas and have complied with the conditions of the previous visas
- Meet health and character requirements
- Meet language requirements (English)
- Own at least one business
How can I value my property?
Popular types of assets such as real estate, corporate assets must be appraised by an independent auditing and valuation unit having a practicing certificate in this field.
What types of assets can be used for financial proof purposes?
Popular asset classes are selected include:
– Real Estate
– Corporate assets
– Saving
– Shares
All of the above assets must be in the name and ownership of the applicant and/or accompanying spouse.
What are the benefits of Visa 188?
Group of benefits | Specific benefit |
The right of residency | The applicant is temporarily resided in Australia in 4 years and 3 months |
The right of business management | The applicant can establish and manage a business in Australia or implement of acquisition the available business |
Labor and education rights | The applicant can work and study in Australia Learn more than 510 hours of English for free. |
The right of tourism | Freedom of travel in and out of Australia for the duration of the visa |
| The right to guarantee relatives | The applicant can guarantee relatives to accompany to Australia if they meet the requirements |
Right to apply for a permanent visa | Applicants can apply for visa 188A to settle down if they meet the conditions |
How long does it take to process an Australian immigration visa by investment?
Approximately 8 to 10 months from the time of applying for a visa
This time includes all the steps: Submit application for state gurantee (1 month) and the official processing time of the Australian Immigration Department (6-9 months).
About Portico & Bridge
Portico & Bridge is a leading European immigration consultant, with more than 35 years of experience and a team of more than 50 professionals worldwide.
For more information about the Australian immigration program and other investment programs, please contact Portico & Bridge for detailed support.
Call us now at 0909.898.758
At PORTICO & BRIDGE, “Your Children, We Care”.
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