Subclass 188C Visa - Business Innovation and Investment (Significant Investor)

The Subclass 188C visa is a provisional visa under Australia’s Business Innovation and Investment Program, designed for high-net-worth individuals who are willing to make a substantial investment in an Australian state or territory. This visa aims to attract experienced investors who can contribute to Australia’s economic growth.

Here’s an overview of the key points about the Subclass 188C visa:

1. Purpose: The Subclass 188C visa, also known as the Business Innovation and Investment (Significant Investor) visa, targets individuals with significant wealth who are prepared to invest in Australia’s economy and help drive business growth and innovation.
2. Investment Requirement: Applicants must make a minimum investment of AUD 5 million in a complying significant investment in Australia. The investment must be made in one or more approved investment options, such as managed funds, Australian companies, or other eligible assets as defined by the Australian Government.
3. State or Territory Nomination: To apply for the Subclass 188C visa, individuals must be nominated by an Australian state or territory government. Each state and territory has its own nomination requirements and investment priorities.
4. Provisional Visa: The Subclass 188C visa is a temporary visa valid for up to 4 years and 3 months. After meeting certain investment and residency conditions, visa holders may become eligible to apply for permanent residency through the Subclass 888 (Business Innovation and Investment - Permanent) visa.
5. Business and Investment Activities: Visa holders are encouraged to engage in ongoing investment and business activities within Australia. They may also bring eligible family members as secondary applicants under the same visa.
6. Health and Character Requirements: All applicants and accompanying family members must meet Australia’s health and character requirements, which typically involve undergoing health checks and providing police clearance certificates.
7. Application Process: Applicants must first submit an Expression of Interest (EOI) through the Australian Government’s SkillSelect system, secure a nomination from a state or territory government, and then submit a visa application with all required documentation.
8. Compliance Obligations: Visa holders must comply with all visa conditions, including maintaining their designated investment for the minimum required period. They may also be required to report periodically to the government on the progress and status of their investments.