Six Frequently Asked Questions about Australia's 188C Visa - Significant Investor Stream
FAQ1:WhatcanbethesourceofA$5million? Canthe funds be gifted funds from parents?
Applicantscanobtainthe A$ 5 million as gifts or inherit the sum of money according to wills,buttheyneedtoprovetherelationshipbetweentherecipientandthedonoror provide transferrecords.Please note that the Department of Home Affairs will investigatethelegalityoftheA$5millionfrom the donor.
FAQ 2: Can 188C main applicant bring adult children? What is the maximum age of the children?
To put it simply, if the child is under 23 years old, as long as he is still in university, has no job, or is unmarried, he can still immigrate to Australia with his parents.
FAQ3:Duringthefouryearsofholdingthe188Cvisa,canI withdraw or change the"approvedinvestment"?How many days can I have to reinvest?
Althoughthetransition from the 188Cvisa to888visarequirestheapplicanttoholdtheapprovedinvestmentfor4years,applicants are permitted to change their business activity.Iftheapplicantwithdrawspartofthefunds,aslongasthe same amount canbereinvestedintheapprovedinvestmentwithin30naturaldays,itwillnotcausetheinterruptionofthe approvedinvestment.Ifyou fail to reinvest within30days,you will breach condition 8557 and your visa may be subject to visa cancellation.
FAQ4:Willthegain made from the"approvedinvestment"ofA$5millionaffectthestatusofthe188Cvisaandthegrant ofthe888Cvisa?
AccordingtotherelevantpoliciesoftheImmigrationAct,the gain made from theapprovedinvestmentwillnotaffectthevisastatusofthe188Cvisaorthegrant ofthe888C visa.Inotherwords,inextremecases,eveniftheinvestmenthassufferedaloss,theapplicantcanstillapplyforthe888Cpermanentresidencevisa.
FAQ5:CanI lodge an offshore 888Cvisaapplication?
The888CvisaapplicationcanbesubmittedinAustralia oroutsidethe country.Ifyouarebusywithdomesticbusiness,youdon'thavetogotoAustraliaforthis.
FAQ6:Afterthe188CnominationisgrantedandtheDeparment of Home Affairsissuestheinvitation,what's the time limitfortheapplicanttosubmitthevisaapplication?
Aftertheinvitationis issuedbytheDeparment of Home Affairs,theapplicantneedstosubmitthevisaapplicationwithin60days. Afterreceivingtheinvestment invitation,theapplicantneedstotransferA$5million to completetheinvestmentwithin28days andproviderelevantevidence of investmentbeforethevisais granted.