This is a provisional visa and is meant for those who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
Obligations for the applicant in 188 visa
To avail of this category of visa, there are certain requirements that you will need to fulfil. The lists are given below.
- Stay Duration– The stay duration under this subclass of visa is up to 4 years and 3 months.
- Visa Cost– The cost of this subclass of visa starts from AUD 7,880.
- Things you must/ need to have: To avail of this visa you must-
- Be nominated
- Complying significant investment of at least AUD5 million over 4 year
- Have a genuine intention to live in the State or Territory whose government agency nominates you
- Activities in Australia you can undertake: With this category of visa you can-
- Stay in Australia up to 4 years and 3 months
- Carry out investment in Australia
- Include eligible family members in your visa application
- Apply for a Permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met
FAQs of Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream
- Is it essential to be nominated to avail of this visa?
Yes, it is essential to be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa.
2. What is the amount I need to invest under to avail this visa?
To avail of this visa, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million along with expressing the intention to hold that investment for at least 4 years.
3. Do I need to sign the Australian values statement?
Yes, it is required, if you and your family members (such as child visas) who have applied for this visa are 18 years of age or older, to sign an Australian Values Statement to confirm that you will respect the Australian way of life and obey Australian laws.