The Significant Investor stream of subclass 188 allows individuals who invest A$5m in a “Complying Investment” to move to Australia with their immediate family.
The main qualifying requirements are that the main visa applicant must:
- Have (individually, or combined with the main visa applicant’s partner or spouse) assets of at least A$5 million that have been legally acquired, are unencumbered, and are available to be used to make a “Complying Investment” in Australia.
- Not have a history of involvement in unacceptable business or investment activities.
- Agree not to take legal action against the Commonwealth of Australia for any loss of capital arising from the Complying Investment.
- Have a genuine and realistic commitment to continue business and investment activities in Australia after the Complying Investment has been held continuously for the life of the subclass 188 visa.
- Have a genuine and realistic commitment to reside in the State or Territory that provides the nomination for the visa application.
Complying Investments are:
- Commonwealth, State or Territory Government bonds
- Certain managed funds that have a mandate for investing in one of the following Australian assets:
- Infrastructure projects in Australia;
- Cash held by Australian deposit taking institutions;
- Bonds issued by the Commonwealth Government or a State or Territory government;
- Bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian Stock Exchange;
- bonds or term deposits issued by Australian financial institutions;
- Real estate in Australia;
- Australian Agribusiness; and
- other ASIC regulated managed funds that invest in the above list of investments.
- Direct investment into private Australian companies not listed on any Australian stock exchange. An ownership interest in the company must be obtained, and the company must:
- Genuinely operate a qualifying business in Australia
- Be registered with ASIC
- Have an Australian Business Number (an ABN).
GM Investors can introduce intending Significant Investor visa applicants to providers of Complying Investments – we maintain a database of managed fund providers and have details for the providers of Government bonds.
The 188 visa is a provisional or temporary residency visa, which allows individuals holding such a visa to be in a very attractive tax position.
It has a validity of 4 years, and before the expiry of the visa another visa must be applied for – this can be either:
- Another 2 years on the subclass 188 visa – this 2 year extension can be applied for twice to give 8 years in total as the holder of a subclass 188 visa, or
- Permanent residency, usually a subclass 888 visa.
Requirements for the subclass 888 permanent residency visa are discussed here.
GM Investor Visas works with our clients on the basis of fixed fees, and a wish to have a long term relationship based on our expertise, trust and a quality service.
We look forward to hearing from you.