A Guide to Immigrate to Australia through 188 and 888 Visa
Posted by Johny Dean on April 19th, 2014
The 888 Visa has made migration and business investment in Australia easier than ever. Whether you want to move to Australia and become an active businessperson or to make passive investments and still live in this land of prosperity and unending business opportunities, this visa can help you like anything. The following points will guide you about the 888 and 188 Visa, which will be required for migrating to Australia as an investor.
The 888 Visa is offered to those who have already been nominated for the 188 and have complied with the conditions under the initial visa (188). Besides holding a 188, you will also be required to meet all the visa requirements laid down by the Australian government. Unlike the 188 Visa, the 888 will provide you with permanent residency. The requirements laid down by the government are as following. You must have retained the investment for a minimum of 4 years in the state or territory of nomination. It will also be required to demonstrate that you have a genuine interest in continuing your investment or business in the country. Depending upon the state, it may also be required to meet the nomination conditions laid down by the state government.
In order to get the 888 Visa, the Australian government has laid down a number of requirements, which are easy to fulfill. Firstly, you must have spent at least 160 days in the country as a holder of the 188 business innovation and investment visa. The other options are 240 days over 6 years or 320 days over 8 years of stay. Besides, you must have an investment of minimum AU$ 5 million. Similarly, there may be some related requirements as per the local state or territory government, it will be best to get the help of a licenced service to get more information about it.
Now that you know about the 888, it is important to learn about the 188 Visa. It is also known as the significant investor provisional visa and requires that you have invested over AU$ 5 million in the form of “complying investments” in any state in Australia. Most interestingly, you don’t have to pass through any points test laid down by the Immigration and Border Protection and there is no limit on age. You could also apply for permanent residency in Australia if you have completed 4 years of investment and 160 days of stay. Make sure that you have maintained your investment during this period, for an amount more than AU$ 5 million. It is usually expected that you will have established your residence in the country by this time.
It is possible to extend your 188 Visa. You can extend it for a maximum of 2 more provisional visas. The maximum allowed total period for this visa is 8 years, with one visa being not for more than 4 years. So if you are a high-net worth investor with a minimum investment capital of AU$ 5 million, it has become easier for you to immigrate to Australia.
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About the AuthorJohny Dean
Joined: January 21st, 2013
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