UPDATE THE LATEST CHANGES OF 188 VISA PROGRAM

Australia has long been one of the ideal destinations for investors. Since then, the visa program 188 investment immigration has received the most attention. Visa 188 program with a variety of investment forms including Entrepreneur (188A), Investment class (188B), and Key investment (188C). However, on July 1, 2021, the Australian Department of Immigration officially changed the policies of the 188 Visa Program.

1. Investment immigration Programs – Visa 188

From 1 July 2021, the business and immigration programs in Australia will be simplified from 9 to 4 types of visas. In particular, the 188 visa types continue to receive applications. Visa 188 program has 3 investment forms, including:

• Creative Entrepreneur Program – Visa 188A
• Investment Program – Visa 188B
• Key Investment Program – Visa 188C

2. The latest changes to the Visa 188 Program

The Australian Department of Immigration has started to apply new policies for the Visa 188 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.

Visa 188B – Investment program

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 

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,…

3. Benefits of becoming an Australian citizen

Australia is a dynamic country with a high quality of life. Besides, Australia has a very sustainable developed economy. That is why Australia has attracted a lot of immigrant investors, developing here. By becoming a citizen of the Country of Kangaroos, investors and their families will enjoy the best benefits available only to Australian citizens.

– Visa-free access to 171 other countries

– Health care system with the most advanced equipment. Citizens will be exempt from all medical expenses.

– The government supports many tax and property incentives for Australian citizens.

Conclusion – Visa 188 program

Overall, Australia is a potential country to settle down and develop. The change in investment immigration policies and conditions is aimed at increasing the efficiency of the program as well as helping Australia quickly recover from the pandemic.

To learn more about the Australian Investment Immigration Program, please contact us at PORTICO & BRIDGE. With a team of more than 50 professionals worldwide, we are happy to assist you. Call us now at 0909.898.758

At PORTICO & BRIDGE, “Your Children We Care”.