SC188 B State Designated Investment Visa
Overview
The provisional Business Investment Visa (often referred to as SC188B) is for successful business investors applicants are eligible to be awarded points if they have a demonstrated history of business or investment experience for various specified periods of time. This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia. You can lodge this visa whilst in Australia and/or outside Australia.
This visa allows you to do the following:
KEY CRITERIA – [All of the following must apply]
This visa allows you to do the following:
- carry out business and investment activity in Australia
- travel to, enter and remain in Australia for the validity of your visa grant i.e. 4 years plus
- bring eligible dependent members of your family unit only with you
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investment stream
KEY CRITERIA – [All of the following must apply]
- Have an important level of management skill in relation to the eligible investment or qualifying business activity
- Have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
- Have an overall successful record of eligible investment or qualifying business activity
- Have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured
- Have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment
- You, your partner, or you and your partner combined must:
- for at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following:
- a qualifying business in which you, your partner or you and your partner combined had at least 10 per cent ownership interest, or
- eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5million.
- during the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million that are available for legal transfer to Australia within two years of the visa being granted
- This visa is provisional, and points tested. Main applicants must meet minimum threshold of 65 points to be considered for an Invitation for Expression of Interest. Meeting the key criteria above only provides you with base points. Your points may increase if your investment supporting evidence can demonstrate higher turnover, asset value and years of investment experience
- Other contributing factors to being attributed more points include your age at time of Invitation, your English language ability, Educational Qualifications, Innovation patents or trademarks registered, and financial venture capital funding received for your current business operations
- State Government or Territory Nomination approval is required
- English exemptions are available for main applicant if competent English requirements cannot be met
- No Skills Assessment Required and No Employment offer required
Fees
SC188B BUSINESS INVESTMENT VISA APPLICATION PROCESSING FEES | |
| State Government Nomination Fees (TBC) | $500.00 – $850.00 |
| Immigration Application Fees Main Applicant [Investor] | $5,375.00 |
| Immigration Application Fees Partner or Spouse | $2,685.00 |
| Immigration Application Fees Child over 18 years under 23 years | $2,025.00 |
| Immigration Application Fees Child under 18 years under 23 years | $1,345.00 |
ADDITIONAL ESTIMATED COSTS | |
| Business Legal & Advisory Fees [Set Up or Acquisition] | n/a |
| Mygration Professional Service Fees [excl.gst] | See more |
| Medical Exams for Migration (per person) | TBC –up to $400.00 |
| Police Clearance Certificates must be obtained from all countries resided in for longer than 12 months in the last 10 years (over 16yrs) | TBC –up to $50.00 p/p |
| Key Identity Document Translations & Certification | TBC –up to $50.00 p/doc |
WHAT WE DO FOR YOU
- You complete our contact form to discuss further through an initial in person meet or through zoom video meeting and discuss your specific needs
- We send you our initial Investment Visa Assessment form to complete and provide to us for a scheduled meeting to which we will discuss your investments meeting the ownership/turnover/investment benchmarks/ financial assets valuation to ensure this meets the Australia regulations
Additional Matters will be considered in our discussions such as:
- the type of business/es and eligible investments undertaken within the last 5 years before application
- Mygration will assist to prepare and lodge State nomination & Visa applications
- We will assist with Bridging Visa applications if required for onshore lodgments
- Processing times vary and change continuously. Our current Subclass 188B Business Investment Visas are taking 12 weeks to prepare from engagement and a further 6-18 months to be finalized by Department of Home Affairs Processing Centre. Factors affecting the processing times are backlogs related to Covid restrictions.
Permanent Residency Pathways
SC888 B – Permanent State Designated Investment Visa
POST VISA GRANT CRITERIA
Once the SC188B Investment visa is granted – Applicants who have maintained their Australian Investment and other criteria may be eligible to apply for SC888B Designated Investment Permanent visa after 4 years of holding the SC188B and meeting other main requirements such as:
- Have made a designated investment of at least AUD1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and held that investment for at least four years from date of issue in your nominating state or territory
- Have not been involved in unacceptable activities and ensured that your designated investment in Australia complied with tax under Australian taxation law
- The nominating State or Territory government agency or the CEO of Austrade has not withdrawn the nomination
- The applicant genuinely has demonstrated a realistic commitment to maintain business or investment activities in Australia
Maintaining the business Investment
For the 4 years immediately before you apply for the permanent visa, you or your spouse/de facto partner together must have held the designated investment continuously in your names
Residence Requirement
You must have been in Australia for at least 2 years in the 4 years immediately before you apply as the holder of a SC888B Designated Investment visa
Information
ACTIVITIES SUITABLE TO MEETING GENUINE INTENSION OF INVESTMENT CONTINUANCE
After your visa is lodged and before a positive decision is made on your application, you will be requested to transfer the designated investment into the State or Territory Treasury Bonds account by the Department of Home Affairs. Detailed instructions will be provided to you in writing. The funds you prepare to transfer must be from the exact source you confirmed in your application of funds already provided to the DHA at the time of application.
Applicants who are in Australia at the time of lodgement, will receive a bridging visa A after lodging their visa applications. This bridging visa will come into effect after the visa you have arrived with expires. Once the bridging visa takes effect (and as long as it has not conditions or restrictions) you can commence your business and/or investment activities.
After your investment has been made to the State Territory bond and your visa is granted, you are able to conduct other business and investment activities which can be sustained beyond the designated investment term of 4 years. At the time of application for the permanent visa, the criterion of:
The applicant genuinely has demonstrated a realistic commitment to maintain business or investment activities in Australia can be evidenced by:
After your visa is lodged and before a positive decision is made on your application, you will be requested to transfer the designated investment into the State or Territory Treasury Bonds account by the Department of Home Affairs. Detailed instructions will be provided to you in writing. The funds you prepare to transfer must be from the exact source you confirmed in your application of funds already provided to the DHA at the time of application.
Applicants who are in Australia at the time of lodgement, will receive a bridging visa A after lodging their visa applications. This bridging visa will come into effect after the visa you have arrived with expires. Once the bridging visa takes effect (and as long as it has not conditions or restrictions) you can commence your business and/or investment activities.
After your investment has been made to the State Territory bond and your visa is granted, you are able to conduct other business and investment activities which can be sustained beyond the designated investment term of 4 years. At the time of application for the permanent visa, the criterion of:
The applicant genuinely has demonstrated a realistic commitment to maintain business or investment activities in Australia can be evidenced by:
- Treasury bond certificates demonstrating you have complied with your investment of $1,5Million AUD and
SC188 C - Significant Investment Visas
Overview
The Australian Government introduced the SIV to provide a boost the economy and drive innovation through competing effectively for high net worth individuals seeking investment migration. The SIV requires investment of at least $5million AUD into complying significant investments for the duration of the provisional visa to be eligible for the permanent visa. The Significant Investor Visa (SIV) is a stream within the Australian Government’s Business Innovation and Investment (Provisional) (Subclass 188) visa and the Business Innovation and Investment (Permanent) (Subclass 888) visa. This visa is Intended for applicants who can invest at least $5million AUD in a Complying Significant Investment Fund in Australia for at least 4 years. This visa subclass carries age and English exemptions and is not points tested. Residence requirements are also reduced for maintaining permanent residency and acquiring citizenship. You can lodge this visa whilst in Australia and/or outside Australia.
This visa allows you to do the following:
KEY CRITERIA – [All of the following must apply]
At the time that you are invited to apply for this visa:
INVESTOR AND COMPLYING INVESTMENTS
The investor must be an individual and the complying significant investments must be made personally by the primary applicant OR with their spouse or de facto partner together OR through a company for which all issued shares are owned either by the primary applicant (or the primary applicant and their spouse or de facto partner together) OR through a valid trust for which the trustee is the primary applicant (or the primary applicant and their spouse or de facto partner together) and the beneficiary is the primary applicant (or the primary applicant and their spouse or de facto partner together).
The investor could not use the trust as the investment vehicle if they are the sole beneficiary and the trustee of the trust. If the investor is the sole trustee of the trust, the investor and the investor’s spouse or de facto partner must be the sole beneficiaries. If the investor is the sole beneficiary, the investor and the investor’s spouse or de facto partner must be the sole trustees. The investor and the investor’s spouse or de facto partner may be the sole trustees and the sole beneficiaries, but the investor cannot be the only trustee and the only beneficiary.
COMPLYING SIGNIFICANT INVESTMENT BREAKDOWN
You may hold investments in each of these options, and you may also change between complying significant investments, provided you meet the reinvestment requirements.
All funds used to make an investment must be unencumbered and lawfully acquired. The investment must be lawful and CANNOT form the security or collateral for a loan
This visa allows you to do the following:
- carry out business and investment activity in Australia
- travel to, enter and remain in Australia for the validity of your visa grant i.e. 4 years plus
- bring eligible dependent members of your family unit only with you
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investment stream
KEY CRITERIA – [All of the following must apply]
At the time that you are invited to apply for this visa:
- you must be nominated either by Austrade, or by an Australian State or Territory government agency (in which case either you or your spouse/de facto partner must intend to reside in that State/Territory)
- you (or you and your spouse/de facto partner, if applicable) must have net assets of at least AU$5 million, which are legally acquired, unencumbered, and can be used to make your complying investment in Australia
- you (and your spouse/de facto partner, if applicable) must not have been involved in unacceptable business or investment activities
INVESTOR AND COMPLYING INVESTMENTS
The investor must be an individual and the complying significant investments must be made personally by the primary applicant OR with their spouse or de facto partner together OR through a company for which all issued shares are owned either by the primary applicant (or the primary applicant and their spouse or de facto partner together) OR through a valid trust for which the trustee is the primary applicant (or the primary applicant and their spouse or de facto partner together) and the beneficiary is the primary applicant (or the primary applicant and their spouse or de facto partner together).
The investor could not use the trust as the investment vehicle if they are the sole beneficiary and the trustee of the trust. If the investor is the sole trustee of the trust, the investor and the investor’s spouse or de facto partner must be the sole beneficiaries. If the investor is the sole beneficiary, the investor and the investor’s spouse or de facto partner must be the sole trustees. The investor and the investor’s spouse or de facto partner may be the sole trustees and the sole beneficiaries, but the investor cannot be the only trustee and the only beneficiary.
COMPLYING SIGNIFICANT INVESTMENT BREAKDOWN
- at least AUD$500,000 (10% of your total investment) invested in venture capital funds or growth private equity funds that invest in start-ups and small private companies AND
- at least AUD$1.5 million (30% of your total investment) invested in eligible managed funds or Listed Investment Companies (LICs) that invest in emerging companies listed on the Australian Securities Exchange (ASX) AND
- a ‘balancing investment’ of up to AUD $3million (remainder of your investment) invested in funds or LICs that may invest in a range of eligible assets, including:
- securities of a company, a real estate investment trust or an infrastructure trust quoted on the ASX (or another Australian securities exchange)
- bonds or notes issued by a company that is quoted on the ASX; or by a wholly-owned subsidiary thereof, if incorporated in Australia; or by a company incorporated in Australia (or a registered foreign company), if the bonds or notes are rated as investment grade by an accredited Australian financial services agency
- annuities issued by Australian-registered life companies that do not repay capital during the period of the visa
- Australian real property, (excluding direct investment in residential property, and limited to 10% indirect investment in residential real estate as part of the fund’s net assets)
- cashheld by Australian authorised deposit-taking institutions (ADIs), including certificates of deposit, bank bills and other cash-like instruments (limited to 20% of the fund’s net assets)
- derivatives (if the investment is made for risk management purposes and is not a speculative investment)
You may hold investments in each of these options, and you may also change between complying significant investments, provided you meet the reinvestment requirements.
All funds used to make an investment must be unencumbered and lawfully acquired. The investment must be lawful and CANNOT form the security or collateral for a loan
- State Government or Territory Nomination approval is required
- English exemptions are available for main applicant if competent English requirements cannot be met
- No Skills Assessment Required and No Employment offer required
Fees
SC188C SIGNIFICANT INVESTOR VISA APPLICATION PROCESSING FEES | |
| State Government Nomination Fees (TBC) | $1,000.00 – $1,200.00 |
| Immigration Application Fees Main Investor Applicant | $7,880.00 |
| Immigration Application Fees Partner or Spouse | $ 3,940.00 |
| Immigration Application Fees Child over 18 years under 23 years | $ 3,940.00 |
| Immigration Application Fees Child under 18 years under 23 years | $ 1,975.00 |
ADDITIONAL ESTIMATED COSTS | |
| Business Legal & Advisory Fees [Set Up or Acquisition] | n/a |
| Mygration Professional Service Fees [excl.gst] | See more |
| Medical Exams for Migration (per person) | TBC –up to $400.00 |
| Police Clearance Certificates must be obtained from all countries resided in for longer than 12 months in the last 10 years (over 16yrs) | TBC –up to $50.00 p/p |
| Key Identity Document Translations & Certification | TBC –up to $50.00 p/doc |
WHAT WE DO FOR YOU
- You complete our contact form to discuss further through an initial in person meet or through zoom video meeting and discuss your specific needs
- We send you our initial Investment Visa Assessment form to complete and provide to us for a scheduled meeting to which we will discuss the source of investment funds meeting the Australia regulations
Additional areas of discussions will involve the complying investment and requirements
- Mygration will assist to prepare and lodge Austrade/ State nomination & Visa applications
- We will assist with Bridging Visa applications if required for onshore lodgments
- Processing times vary and change continuously. Our current Subclass 188C Significant Investment Visas are taking 8 weeks to prepare from engagement and a further 6-18 months to be finalized by Department of Home Affairs Processing Centre. Factors affecting the processing times are backlogs related to Covid restrictions.
Permanent Residency Pathways
SC888 C – Permanent Significant Investment Visa
POST VISA GRANT CRITERIA
Once the SC188C Significant Investment visa is granted – Applicants who have maintained their Australian Investment and other criteria are eligible to apply for SC888C Significant Investment Permanent visa after 4 years of holding the SC188C and meeting other main requirements such as:
- Continuously maintaining your Complying Significant Investment of AUD$5 million using unencumbered funds
- Have not been involved in unacceptable activities
- The nominating State or Territory government agency or the CEO of Austrade has not withdrawn the nomination
- The applicant genuinely has demonstrated a realistic commitment to maintain business or investment activities in Australia
Maintaining the business Investment
For the 4 years immediately before you apply for the permanent visa, you or your spouse/de facto partner together must have held the complying investment continuously
Residence Requirement
You must have been in Australia for at least a total of 160 days within the 4 years immediately before you apply as the holder of an SC888C Significant Investment visa. The 160 days do not have to be divided equally over the 4-year period. They can be accumulated over the 4-year visa period. Should the main applicant/significant investor be unable to meet the 160 day residence period but was able to maintain the Investment for the 4 years, then the applicant spouse or de-facto partner may assist in satisfying the residence requirement by demonstrating they have resided in Australia for a period of 24 months. The 24 months or 720 days do not have to be divided equally over the 4-year period. They can be accumulated over the 4-year visa period.
Information
VALUE AND TIMING OF THE COMPLYING INVESTMENT
The investment of $5million AUD, must be made for a at least 4 years and must include:
Any remaining portion of the investment may be invested in one or more balancing investments. The balance of investments can be made up through eligible managed funds into:
The minimum investment amounts may include investment management fees (if any). The investment must be made on or after the SC188 SIV Visa application is made because no investments that existed before that date would be accepted as complying significant investments.
An organisation issuing the interests in the venture capital fund or the managed investment fund (the issuer) central management and control must be an authorised Australian Financial Services Licensed Fund Manager and operating in Australia.
The SIV applicant, the SIV applicant’s spouse or de facto partner, and any associate of the SIV applicant or of the SIV applicant’s spouse or de facto partner must not be involved whatsoever or associated in the management or control of, or in partnership with the SIV Complying Fund Manager.
After your visa is lodged and before a positive decision is made on your application, you will be requested to transfer the $5million AUD Funds to the Complying SIV Investment Fund you have engaged with. The funds you prepare to transfer must be from the exact source you confirmed in your application of funds already provided to the DHA at the time of application.
Applicants who are in Australia at the time of lodgement, will receive a bridging visa A after lodging their visa applications. This bridging visa will come into effect after the visa you have arrived with expires. Once the bridging visa takes effect (and as long as it has not conditions or restrictions) you can commence your business and/or investment activities.
After your investment has been made to SIV Fund and your visa is granted, you are able to conduct other business and investment activities which can be sustained beyond the designated investment term of 4 years.
During the 4 years of investment and holding the SC188 SIV Provisional visa, investor applicants may request to switch their investment (or a portion thereof) to a different complying significant investment, provided the switch complies with maximum switching period of 30 calendar days, being the time from which the funds are withdrawn or cancelled from the first investment until the time the funds are invested into the second investment. If funds reinvested into a complying significant investment or transferred between complying significant investments have occurred within 30 days, then the criteria of investments held continuously from the original investment date will still apply.
At the time of application for the permanent visa, the criterion of:
The applicant genuinely has demonstrated a realistic commitment to maintain business or investment activities in Australia can be evidenced by:
The investment of $5million AUD, must be made for a at least 4 years and must include:
- a total of at least $500,000 AUD (10%) invested, or to be invested, in one or more venture capital funds AND
- a total of at least $1.5million AUD (30%) in emerging companies’ investments.
Any remaining portion of the investment may be invested in one or more balancing investments. The balance of investments can be made up through eligible managed funds into:
- any combination of a higher proportion into the two categories above or
- a range of other complying significant investments
The minimum investment amounts may include investment management fees (if any). The investment must be made on or after the SC188 SIV Visa application is made because no investments that existed before that date would be accepted as complying significant investments.
An organisation issuing the interests in the venture capital fund or the managed investment fund (the issuer) central management and control must be an authorised Australian Financial Services Licensed Fund Manager and operating in Australia.
The SIV applicant, the SIV applicant’s spouse or de facto partner, and any associate of the SIV applicant or of the SIV applicant’s spouse or de facto partner must not be involved whatsoever or associated in the management or control of, or in partnership with the SIV Complying Fund Manager.
After your visa is lodged and before a positive decision is made on your application, you will be requested to transfer the $5million AUD Funds to the Complying SIV Investment Fund you have engaged with. The funds you prepare to transfer must be from the exact source you confirmed in your application of funds already provided to the DHA at the time of application.
Applicants who are in Australia at the time of lodgement, will receive a bridging visa A after lodging their visa applications. This bridging visa will come into effect after the visa you have arrived with expires. Once the bridging visa takes effect (and as long as it has not conditions or restrictions) you can commence your business and/or investment activities.
After your investment has been made to SIV Fund and your visa is granted, you are able to conduct other business and investment activities which can be sustained beyond the designated investment term of 4 years.
During the 4 years of investment and holding the SC188 SIV Provisional visa, investor applicants may request to switch their investment (or a portion thereof) to a different complying significant investment, provided the switch complies with maximum switching period of 30 calendar days, being the time from which the funds are withdrawn or cancelled from the first investment until the time the funds are invested into the second investment. If funds reinvested into a complying significant investment or transferred between complying significant investments have occurred within 30 days, then the criteria of investments held continuously from the original investment date will still apply.
At the time of application for the permanent visa, the criterion of:
The applicant genuinely has demonstrated a realistic commitment to maintain business or investment activities in Australia can be evidenced by:
- Continuing various kinds of investments of your own choosing
- Real Estate Property you have invested into for residential or investment purposes. The evidence of the property acquisition used for (e.g. residential/commercial investment) will satisfy the evidence that you have demonstrated to continue investment activities after achieving permanent residence.
Get in touch about your future investment
Call Now: (+61) 7 5631 4755
Address
Brisbane
57 Coronation Drive, Brisbane City, QLD 4000
Gold Coast
66 Marine Parade, Southport, QLD 4215
Copyright 2021 by Mygration. All Right Reserved.