1. Program Overview
The 188B visa is an Australian immigration program designed to attract foreign entrepreneurs to invest in Australia for promoting economic development. With an investment of 1.5 million UAD in the designated state bond, the applicant's family, including spouse, children under the age of 23, who are single and can prove status of financial dependence, will be granted a temporary residency visa for 4 years. After that, they are converted to permanent residents.
2. Benefits of Visa 188B
- Applicants and their families, including spouses and children under 23 years of age, who are still single, proving financial dependence will be granted a temporary residence visa.
- Naturalized after 4 years of living full time, including 1 year of permanent residence.
- Free education from grades 1 to 12 (public schools) and working in Australia.
- To live in a safe environment and have the highest quality of life in the world.
- No global tax is required.
- Profit: ~ 2% per year and receive every 6 months.
- Redeem after 4 years.
3. Rights of Australian Citizens
- Freedom to travel, live and work anywhere in Australia.
- Visa-free travel to 168 countries around the world.
- Be exempted from tuition fees from elementary to high school (public schools).
- Enjoy all of Australia's health and social security privileges.
- Dual nationality.
- Get help from an Australian diplomatic service overseas.
- First homeownership subsidy in Australia.
4. Conditions of participation
- Nominated by a state/territory in Australia.
- Receive a visa invitation.
- Applicant must be under 55 years of age.
- No involvement in illegal business activities.
- Applicants and all family members must meet health and criminal background conditions.
- A clear desire to own and maintain a business management role in Australia.
- Applicants have a minimum of 65 points on the Australian Migration Scale.
- Main applicant has at least 3 years of management experience in business or investment
- Applicant or spouse must meet all following conditions:
- Invest AUD 1,500,000 in a designated state bond that the investor will live in when he/she receives the invitation to invest and must maintain the investment for 4 years
- Within 2 financial years prior to the date of application, the total value of both spouses' assets must be at least AUD 2.25 million
- In 5 years prior to the date of application, the applicant must meet one of the following two conditions:
- Owned assets in the company of the principal applicant (including spouse) reaches a minimum of 10% of total shares
- Directly manage a business/investment activity with minimum investment of AUD 1.5 million
5. Eligibility for 888 Permanent Resident
- Applicants and families must comply with all visa conditions as well as the laws of Australia
- Applicants must comply with business conditions
- Live in Australia and hold a 188B visa for a minimum of 2 years over 4 years immediately before applying for a permanent visa.
- Maintain the investment for 4 years.
If applying for a 188 visa before July 1, 2015, applicants will be eligible to apply for a 888 permanent visa after 3 years and 11 months. If applying for a 188B visa after July 1, 2015, applicants must hold 188 visas for at least 4 years before applying for a 888 permanent visa.