Overview

As the name for this subclass 188 visa stream suggests, applicants will be required to demonstrate holding a certain amount of unencumbered financial wealth obtained through lawful business and/or investment activities overseas. The good thing is that the applicants can also include any real estate held in their name and also combine the assets held in their spouse/de-facto partner’s name to meet the criteria detailed below.

Eligibility Criteria:

• The applicant has had business and personal net assets of at least AUD 2.25 million for the last 2 fiscal years
• The applicant must make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
• Under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit; and
• Have 3 years of experience either managing a qualifying business or “eligible investments”, and demonstrated a high degree of management and professional skills in this area
• Meet the health and character requirements
• For at least 1 of the 5 fiscal years, you have either:
  • Managed a business in which you hold a 10% shareholding; or
  • Managed “eligible investments” of at least AUD 1.5 million or equivalent in your country
  • Eligible investments for the purpose of this visa include:
    • Managing your or your spouse’s ownership interests in a business
    • Managing cash on deposit from lawful entities
    • Stocks or bonds
    • Real estate
    • Gold or bullion trading
    • Loans to a lawfully operated business

Visa Application Charges – VAC

First VAC

• Primary Applicant: $6,085 | Secondary Applicant – over 18 years: $3,040 | Additional applicant – under 18 years: $1,520

Second VAC

• A primary applicant over the age of 18 years assessed as not having functional English – $9,795
• Any other applicant over the age of 18 assessed as not having functional English – $4,890