Navigating the Significant Investor Visa (subclass 188C) Process: Everything You Need to Know
The Significant Investor Visa (SIV) is issued by the Australian government to encourage high net worth individuals to invest in the Australian economy. The Significant Investor Visa falls under subclass 188C of the Business Innovation and Investment Visa program. The Significant Investor Visa provides a pathway to permanent residency in Australia for eligible investors who meet the criteria set by the Australian government.
Eligibility for SIV (subclass 188C) Visa
To be eligible for the SIV (subclass 188C) visa, an applicant must meet the following criteria
- applicant must be over 18 years of age.
- applicant must have a net worth of at least AUD 5 million.
- applicant must invest at least AUD 5 million in complying investments in Australia for a minimum of four years.
- applicant must demonstrate a functional level of English language proficiency.
- applicant must meet the health and character requirements as set by the Australian government.
Investment requirements for SIV (subclass 188C) Visa
The applicant must invest at least AUD 5 million in complying investments in Australia for a minimum of four years.
Complying Investments Explained
- Commonwealth, state or territory government bonds: The applicant may invest up to 20% of the AUD 5 million in these bonds.
- Managed funds that invest in Australian assets: The applicant may invest up to 30% of the AUD 5 million in these funds.
Australian proprietary companies: The applicant may invest up to 30% of the AUD 5 million in these companies.
- Real property in Australia: The applicant may invest up to 10% of the AUD 5 million in real property in Australia, which must be held for commercial purposes.
- Other investments approved by the Australian government: The applicant may invest up to 10% of the AUD 5 million in other investments that are approved by the Australian government.
- The investment must be made through an Australian financial institution that is authorized to manage complying investments under the Significant Investor Visa program.
The complying investments must be held for a minimum of four years and the applicant must maintain the AUD 5 million investment throughout the four year period. The applicant may be able to make changes to their investment portfolio during the four-year period, but they must comply with the investment requirements at all times.
Application process for SIV (subclass 188C) Visa
The application process for the SIV (subclass 188C) visa involves the following steps
- Expression of interest (EOI): The applicant must submit an EOI through the SkillSelect system, indicating their interest in the SIV (subclass 188C) visa.
- State or territory nomination: The applicant must be nominated by a state or territory government agency.
- Invitation to apply: If the applicant is nominated by a state or territory government agency, they will receive an invitation to apply for the SIV (subclass 188C) visa.
- Visa application: The applicant must submit a visa application, including all required documentation, within 60 days of receiving the invitation to apply.
- Visa outcome: The Australian government will assess the visa application and make a decision on whether to grant the SIV (subclass 188C) visa.
The processing time for the SIV (subclass 188C) visa varies depending on the individual circumstances of the applicant and the complexity of their application.
The SIV (subclass 188C) visa provides a pathway to permanent residency in Australia for eligible high net worth investors who meet the investment and eligibility requirements set by the Australian government. The investment must be made in complying investments in Australia, and the applicant must maintain the investment.
