188 / 888 (Business Innovation and Investment Visa)
The subclass 188 / 888 (Business Innovation and Investment Visa) is one of the better-known investor visas in the market. It is split into multiple streams, including the ‘Investor Stream’, and the ‘Significant Investor Stream’.
The Investor stream requires that the applicant invest $1.5 million in an Australian State or Territory security using unencumbered funds. In order to do this the applicant must be less than 55 years of age (subject to exceptions), prove that they have 3 years of experience of managing an eligible business or an investment and prove that they have also managed a business or investment worth $1.5 million in 1 of the last 5 years.
188 Significant Investor Stream
The Significant Investor Visa (SIV) requires an applicant to invest $5 million ‘complying significant investments’, which are a combination of the following;
- Venture Capital and Growth Private Equity Funds (VCPE),
- Funds investing in Emerging Companies, and / or
- Balancing Investment
This visa requires that the investment remain in Australia for a period of 4 years before the permanent visa (subclass 888) can be decided. Unlike the investor stream there is no age requirement for an SIV nor does the applicant have to prove that they have a history of managing investments or businesses.
Business Innovation Stream
The subclass 188 Business Innovation Stream requires that the main applicant scores at least 65 on the business innovation and investment points test, is under 55 years of age and that they or their spouse / de facto partner have at least $800,000 AUD of unencumbered funds to transfer to Australia. On top of this, the main applicant needs to have specific management experience in their previous businesses, and needed to have owned a specified percentage of those businesses.