Visa 188B Investor stream
what is criteria for primary applicants to grant visa 188b?
Invitation for visa 188B
the applicant must be the person who was invited in writing to apply for a buisness visa 188b in the investor stream. The invitation will specify the stream for which the applicant is invited to apply
The age of the applicant must not have turned 55 at the date of the invitation; It is irrelevant whether the applicant turns 55 during the invitation period.
the ‘exceptional economic benefit’ provision gives the nominating States flexibility to nominate applicants who are 55 or older. Please contact us to know more.
Visa 188B – Making the designated investment 1.5 million
the invitation to the applicant to select a designated investment and make an investment of AUD1.5 million in an Australian State or Territory.
The invitation to the applicant to select a designated investment should be the final stage after the applicant and family unit members have been assessed as having satisfied generic criteria (for example, relating to relationships, public interest, and custody of minor children). As well as officers are satisfied that the applicant will satisfy the remaining visa-specific criteria if a designated investment is made.
Qualifying Business Criteria
the applicant and their spouse or de facto partner together have had a total of at least net assets of at least AUD2 250 000 for visa 188b.
3 years’ experience of direct involvement in managing one or more businesses or eligible investments
Also requires the applicant to have maintained direct involvement in managing the investments of the applicant or their spouse or de facto partner for at least 1 of the 5 fiscal years’ with the total net value of at least AUD1 500 000.
If the primary applicant has run a business, maintaining direct involvement in managing a business.
Business Points test
The point test should score at least 65 for visas 188b. the applicant must genuinely have a realistic commitment to continuing to maintain business or investment activity in Australia after the designated investment has matured
Similiar requirement as business visa 188A the applicant must have a genuine intention to reside, for at least 2 years’, in the State where they lodge and invest the designated investment. Alternatively, the spouse of applicant residence will be as residence record as well. Please contact us if you have a concern about your residence location.
Statement of management activity – Visa 188b
In support of their application, applicants are asked to provide a Statement of management activity detailing their active management of eligible investments or of a qualifying business for 1 fiscal year in the 5 fiscal years.
Applicants under Business Visa 188B Investor stream are also required to complete the Statement of assets and liabilities position (SALP) form to provide two consecutive snapshots of their financial situation throughout the 2 fiscal years’ prior to application
Applicants should choose a fiscal year for which they are able to produce documentation evidencing their direct involvement in management. Ideally, the statement is provided as part of the applicant’s résumé of their business and investment career, which typically would be presented chronologically, on a year by year basis.
With an Australian Business visa 188 six streams, for the investor, the applicant may have to demonstrate a high level of management skill.
the applicant must have had direct involvement in managing and should demonstrate that they have exercised responsibility in making key decisions concerning the evaluation, selection, purchase, and sale of those investments in a Long term investment, active management.
For example, investments in real estate, the Department would expect an active investor to produce an annual portfolio performance report including the annual return in percentage for each of the years’ property was managed
Evidencing ownership and value of an eligible investment
For the amount of 2.25million assets ownership could be demonstrated by
Ownership interest in a business
Loans to a business
Cash on deposit
Stocks and bonds
Gold and silver bullion
that applicants have sufficient assets to:
- fund their designated investment in Australia and
- cover settlement costs in Australia and
- finance any business or other investment activity that they may wish to undertake in Australia prior to the maturity of their designated investment.
all noncash assets be objectively valued, the following four:
- inclusions in asset registers
- insurance records
- loan documents
- receipts, invoices, and formal valuation documents.
Other assets are those assets that have not otherwise been included in the calculation of eligible investment assets – four examples are:
- the residential home
- jewellery and
- a fund managed superannuation products (which are excluded from consideration as eligible investments), however, only the portion of a superannuation investment product that can be accessed throughout the 2 fiscal years’ preceding the application can be considered in the calculation of net ‘other assets’ for the purposes of this criterion.
Liabilities to be deducted
To establish the net value of any assets, either eligible investment or other, liabilities must be deducted. These may include, but are not limited to:
- amounts borrowed from banks or other lending institutions to fund the acquisition of either an eligible investment or other asset and
- tax assessments outstanding.
- funds deposited in a designated investment are locked-in for 4 years’ and
- they should ensure that they can transfer sufficient additional funds to cover settlement costs and any proposed business or other investment activities.