Significant Investor Stream (SC 188C) Visa
Overview
This provisional visa is perfect for applicants who are willing to invest at least AUD 5 million in eligible Australian investments and actively partake in business activities within the country. This visa has high financial requirements to ensure the ongoing success and growth of your business or investment venture in Australia.
Benefits of this visa
Australia's thriving economy presents many opportunities for international investors seeking to establish their foothold in their respective industries.
Minimal requirements
This visa has no age limit, is exempted from English language requirements, and has no point test to achieve.
Easy Permanent Residency Visa application
Compared to other BIIP (Provisional) visas, this stream has a minimal residence requirement for PR visa application. The main applicant is only required to reside in the country for 40 days per year and 180 days for the spouse.
Visa processing time
When it comes to the Significant Investor Stream (Provisional) Visa (SC 188C) process, several factors can impact your application. These include the quality of submitted documents and the volume of applications received by the Department. To help you plan, we have provided an estimated timeline for the processing of your visa application.
50% of applications: Processing time is 18 months
90% of applications: Processing time is 23 months
To avoid any delays in your application, ensure that all the essential documents are accurately and promptly submitted. Also, make sure that you are updated with any visa policy changes as Australia’s immigration directives are changing over time.
Application process
Here’s a simplified breakdown of the Significant Investor Stream (Provisional) Visa (SC 188C) application process. If you’re having a hard time understanding this process, you can send your questions here.
Check your qualifications
Investment appropriation
Having enough investment funds alone is not enough to be eligible for this visa. Aside from having the means, you also need to invest in the following proportions:
at least AUD1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
a ‘balancing investment’ of at least AUD2.5 million in managed funds
Investment limitations
You can invest your funds in a wide range of assets, however, this visa has limitations.Direct investment in residential real estate is prohibited. Indirect investment in residential property through managed funds is strictly limited.
You are prohibited from using your investments as a security or loan collateral.
Submit your EOI
In applying for this visa, you have to gain an invitation from an Australian state or territory. To do that, you have to submit an Expression of Interest (EOI). In the EOI you must indicate your skills, qualifications, investment experience, and the State or Territory you want to invest in.
Get nominated
After submitting your EOI, an Australian State or Territory government agency must nominate you to be able to apply for this visa.
Update: For the Financial Year 2023-2024, the Australian government didn’t release new allocations for the Business Innovation and Investment Program
Apply for the visa
There is no specific timeline on when a State or Territory send their nomination to applicants. However, once you are granted a nomination, you can apply for this visa either onshore or offshore. It’s important to note that the State or Territory government agency that nominates you must not withdraw their nomination after you apply.
Cost
This visa costs AUD13,860.00 for the main applicant.
Additional applicant over 18 years old: AUD6,930.00
Additional applicant under 18 years old: AUD3,470.00
Any applicant 18 years old or older who has less than functional English must also pay an extra charge.
The second instalment charges are:
Main applicant: AUD9,795
Family members: AUD4,890
Requirements per State
Victoria
Aside from fulfilling the criteria outlined by the Department of Home Affairs, you must also complete the criteria set by the state of Victoria. Meeting both sets of criteria is a requirement if you wish to proceed with your application for a nomination. To be eligible in the state of Victoria, you must:
intend to live in Victoria,
be able to make a complying investment of at least A$5 million in Victoria,
be committed to meet the requirements for permanent residence
New South Wales
The Department of Home Affairs and NSW requirements are the same. (Put a button to direct to the DHA requirement above)
Queensland
Aside from fulfilling the criteria outlined by the Department of Home Affairs, you must also complete the criteria set by the state of Queensland. Meeting both sets of criteria is a requirement if you wish to proceed with your application for a nomination. To be eligible in the state of Queensland, you must:
Demonstrate a genuine commitment to Queensland
Have a net of at least AUD5 million invested according to the Complying Investment Framewor
Northern Territory
Aside from fulfilling the criteria outlined by the Department of Home Affairs, you must also complete the criteria set by the state of Northern Territory. Meeting both sets of criteria is a requirement if you wish to proceed with your application for a nomination. To be eligible in the state of Northern Territory, you must:
demonstrate a genuine intention to reside within the NT
demonstrate sufficient financial capacity to undertake the proposed investment, and to fund resettlement
have a clear economic benefit to the NT that can be identified.
South Australia
Aside from fulfilling the criteria outlined by the Department of Home Affairs, you must also complete the criteria set by the state of South Australia. Meeting both sets of criteria is a requirement if you wish to proceed with your application for a nomination. To be eligible in the state of South Australia, you must:
intend to live in South Australia
agree to make and maintain an investment of AUD$5 million for the duration of the provisional visa in a complying investment fund (CIF). The complying investment fund must materially benefit South Australia.
This material benefit to South Australia could include a demonstration of evidence of investment activities in South Australia at the Subclass 888 visa application stage either as part of the CIF or additional to it.
Tasmania
Information about the 188c visa requirement in Tasmania is currently unavailable.
Western Australia
Information about the 188c visa requirement in Western Australia is currently unavailable.
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