Australia is a hugely popular destination for UK citizens who want to live overseas, either for a short time as an expat or for the longer term. Whether you’re looking for a relaxed outdoors lifestyle or excited to move to a vibrant city environment, there’s a place for you in Australia - and with a long history of welcoming incomers, it’s no surprise so many Brits make the move and emigrate.
If you’re a UK business owner or entrepreneur you may be interested to learn about the Australia investor visa - also called the 188 investor visa (Australia). This is a popular way for people with qualifying investments to get a long term visa for Australia for themselves and their family. This guide covers all you need to know about the Australia investor visa program so you can decide if it’s a good fit for you.
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Australia investor visa program - What is it and how does it work?
Before we look in detail at the Australia investor visa requirements, let’s get an overview of how the business investor visa for Australia works. The full title of this visa is the Business Innovation and Investment (provisional) visa (subclass 188)¹. For that reason you’ll often find this visa being called the 188 investor visa.
In general, the Australia investment visa is designed to allow successful entrepreneurs and business owners who want to invest in Australia to attain temporary residence for 5 years.
To qualify you’ll need to meet a set of benchmarks which we’ll cover in detail later - but it’s helpful to know that as this is a visa for investors, you’ll need a good chunk of money to apply. You’ll need net assets of at least 2.5 million AUD, plus the same amount again that you can invest in Australian businesses and assets for the duration of your stay.
On top of this you’ll need to take the points test, common to all Australian visa applications, which allocates points based on your age, education, earning and more. In this case, the benchmark score is set at 65 in this test.
If you’re successful in applying for the Australian investor visa, you’ll be issued a visa for 5 years and can then reapply once the term is completed. You’ll also be able to apply for visas for your partner and any eligible dependents.
Australia investor visa requirements
Before you apply it’s important to check you meet the eligibility requirements to apply for an investor visa for Australia. Here’s an outline of the key requirements - you’ll need to check over the application requirements carefully to make sure you’re aware of the full process as it’s fairly complicated and can vary based on your personal circ*mstances.
In general the Australia investor visa requirements include²:
- For at least one of the preceding 5 fiscal years you must have managed a qualifying business or investments worth at least 2.5 million AUD
- For the 2 years before application you must have qualifying assets of at least 2.5 million AUD which you can invest in Australia for the duration of the visa
- You must have at least 3 years of business experience and a successful track record in business
- You must score at least 65 on the points test
- You must be under 55 years old
- You must be invited by, and intend to live in, a specific state or territory
- You must have functional English
Character and medical requirements also apply to all applicants.
As one of the eligibility criteria for this visa is that you invest in Australia, it’s helpful to know that you’ll need to divide your 2.5 million AUD investment according to set guidelines. These mean you must have at least 500,000 AUD in venture capital and private equity funds investing in startups, and at least 750,000 AUD in approved managed funds which invest in Australian listed public companies.
The remainder can be split as you wish across eligible asset classes. You can’t use your investment to directly invest in real estate and there are strict limits on investing in managed funds which invest in property, too.
How to get an Australian investor visa
As we’ve seen, getting an Australian investor visa requires you to have a good amount of money set aside to invest, as well as meeting a range of eligibility requirements.
The process to apply for your visa is also somewhat complex, which is why some applicants choose to hire specialised consulting companies to go through the documents and process. This will involve an extra cost but can make the process much easier to navigate.
To give an overview, here’s the process you’ll need to follow to get an Australian investor visa³:
- Submit an Expression of interest showing you want to apply
- You must be nominated by a state or territory and invited to apply
- Gather all the documents needed - more on that coming up next
- Complete the application process online and await the application outcome
Documents required for Australia investment visa
To support your investor visa application you’ll need to provide a pretty broad range of documents about yourself and any family members you want to bring to Australia, your business and your financial status.
The exact paperwork needed can vary a bit depending on the circ*mstances, but there’s full guidance online on the Australian government website.
Here’s an outline of the documents usually required for an Australia investment visa:
- Your passport as proof of ID
- Proof of your business and investment assets
- Evidence to support the points test you’ve completed
- Proof of your English language ability
- Evidence of your good character including police reports
You’ll also need to complete a medical test which will be submitted as part of your application.
Proof of your business and investment assets can include different documents, depending on your personal circ*mstances. You’ll need to show the business you intend to do in Australia, such as a business plan.
You’ll also need to show evidence of your available funds, such as bank statements, as well as the source of these funds to prove your money hasn’t come from illegal activity. Because you must have several years of experience in business you’ll also need to provide evidence supporting this, such as a statement from a previous business you’ve run, partnership agreements or other company documents.
How much is the 188 investor visa in Australia?
As well as needing significant assets to invest in Australia, there’s an application fee for yourself and any dependents you choose to bring with you to Australia:
- Primary applicant: 6,270 AUD
- Applicants under 18: 1,565 AUD
If any of the people aged over 18 and named on the application can’t speak functional English, there’s an extra fee to pay:
- Primary applicant: 9.795 AUD
- Family members: 4,890 AUD
This second portion of the fee isn’t paid immediately, it’s only due when requested by the immigration authorities, and will be refunded if your application fails.
Australia investor visa - pros and cons
If you’re considering a move to Australia, the investor visa isn’t the only option out there. Here are a few pros and cons of the Australia investor visa so you can weigh up whether or not it might work for you.
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Living in Australia is a dream for many people. If you’re a UK business owner or investor, getting a visa by investment in Australia could be an attractive option.
You’ll be able to build your own business in Australia, as well as investing in other Australian businesses and assets, and can live there for up to 5 years with your family. Once your visa expires you’ll be able to reapply as long as you still meet the requirements, or choose a different visa type instead if you’d prefer.
The process for applying for the Australia investor visa is pretty involved, and you’ll need to meet a high benchmark in terms of available funds, experience and business plans - but if you’re eligible, a new life in Australia could be right around the corner.
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Sources used in this article:
Sources last checked June 27, 2023
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