Visa 188B - Investo...
 
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Visa 188B - Investor Stream  

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(@manrug)
Active Member Registered

We are from the UK, we have applied for the visa 188B in later February, Within a few days we were requested to have our medicals, police check and send in further information. I thought this was a little too soon, because the processing time is quoted as 19 months. Any way we have sent the information requested. I was wondering if there is anyone else who has been granted or applied for this visa. I understand once immi approves your application they will then ask you to invest the money. Once the money is invested and on showing proof of investment then a the visa is granted for 4 years and 3 months.

My question is - it can take a while to sell the assets in the UK to raise for the investment. How long does immi allow from being notified of being successful to making the investment?

Any help gratefully received.

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Posted : 24/03/2019 1:17 am
Mark
 Mark
(@mark)
Reputable Member Admin

Hi there mate

The number of places made available under this visa stream is very small so as you have most likely realised, the amount of information available online is also very small. The Aussie migration website is also pretty unhelpful! ?

We have a few migration agents who periodically post on our forums so hopefully one might pop by to assist.

Alternatuvely, consider giving the migration department a call and ask them directly.

Contact details for calling outside of Australia are available here

If you do call them and get an answer, I would very much appreciate it if you'd pop back to let us know.

It's clearly a tricky question so an answer will certainly help any future members or visitors to our site who will be able to learn from your experience.

Thanks in advance

Mark

 

Community Manager
Getting Down Under

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Posted : 24/03/2019 9:43 am
(@manrug)
Active Member Registered

Mark thanks for your reply. I will try and call the Immi and see if I can get the answer.

As my application progresses I will update this thread.

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Posted : 24/03/2019 3:05 pm
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Mark
 Mark
(@mark)
Reputable Member Admin
Posted by: Manrug

Mark thanks for your reply. I will try and call the Immi and see if I can get the answer.

As my application progresses I will update this thread.

Thanks mate. Sorry we couldn't give you an answer on our forums today. If you could let us know it would be very much appreciated.

I understand the immi phone lines operate during uk hours so hopefully you are able to connect with someone in the know ?

All the best

Mark 

Community Manager
Getting Down Under

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Posted : 24/03/2019 8:36 pm
Colin liked
Mark
 Mark
(@mark)
Reputable Member Admin

How did you go mate? We're they able to help?

Community Manager
Getting Down Under

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Posted : 04/04/2019 7:33 am
(@manrug)
Active Member Registered

Hi Mark

I did call Immi information helpline but they did not know. There was one immigration agent who said you get 70 days to do the investment. The numbers from the UK  for this visa 188b are in single fugures. So there is not enough information around. 

 

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Posted : 04/04/2019 1:32 pm
Mark liked
Mark
 Mark
(@mark)
Reputable Member Admin
Posted by: Manrug

Hi Mark

I did call Immi information helpline but they did not know. There was one immigration agent who said you get 70 days to do the investment. The numbers from the UK  for this visa 188b are in single fugures. So there is not enough information around. 

 

Thanks for the update Manrug. It's crazy to me that the immi helpline didn't even know the answer. Glad that you were provided some further guidance by a migration agent. 

I'm sure you have already but I'd be certain to log the details of your interactions with immi (and your agent) so you can demonstrate appropriate intent if you choose the 70 day approach (which still seems. Pretty tight if I'm being honest if part of your investment is tied up in other investments that you.need to dispose of first) ?

Hope all works out well for you Manrug and please keep in touch. 

Cheers

Mark

Community Manager
Getting Down Under

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Posted : 04/04/2019 6:09 pm
(@manrug)
Active Member Registered

Just to give you further information on my call to Immi information helpline. She was kind enough and helpful in that she went away for 5 minutes or so to check. Then came back and tried to explain that the approval would come a list of condition 8504. Which will specify an entry date by which you must arrive in Australia. 

This was not the answer to my question or helpful. Even the 70 days - I found on an migrations website. I have not consulted with any migration agents, some that I approached wanted consultation fee. I have done all I can, I will wait until I am contacted by Immi which will be a decision on our application or request for further information and we will take it from there.

I will update this thread as I go along.

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Posted : 04/04/2019 6:18 pm
Mark liked
Mark
 Mark
(@mark)
Reputable Member Admin

Fair enough and appreciate the further context. Best of luck with your application mate!

Community Manager
Getting Down Under

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Posted : 04/04/2019 7:02 pm
(@manrug)
Active Member Registered

I just thought I will provide an update, so it may help others who are thinking about the Visa 188B. A migration agent has now given me a definitive answer with reference to time allowed to make the $1.5million investment. The reply is:

"When you are requested to make the designated investment the standard time frame is 70 calendar days of the date of the request for you to show:

  • Evidence of the transfer of funds to the relevant State/Territory and
  • Evidence as to which assets have been liquidated, and

o   If the assets used to fund the investment were those originally nominated, that these assets have been liquidated to fund the designated investment; or

o   If a different source of funds was used to make the investment, evidence that those funds were personally and legally owned by you  and/or your partner/spouse, and were unencumbered and derived from qualifying business and/or eligible investment activities.

Additional time beyond the 70 days may be afforded in certain cases."

Due to the low number of people applying for this visa there are no timelines available. However I raised a question under "Right to know" and the Department of Home Affairs has given the following reply which is very useful.

NOTE: 99% of the 188B visas are done through a MARA agents, who quote high success rate for this type of visas and very high fees. The fact that the success rate on this visa was  only 2017 - 38% and 2018 - 50% does not reflect well.

"Subclass 188 Business Innovation and Investment (Provisional) visa applications lodged in 2018 where the visa sub-type is Investor - comparison with previous year
Source: Department of Home Affairs, 2019 (RFI 23087.01)
Note 1: Includes primary and secondary applicants.

2017                  2018
2,139                2,747

Subclass 188 Business Innovation and Investment (Provisional) visas granted in 2018 where the visa sub-type is Investor - comparison with previous year
Source: Department of Home Affairs, 2019 (RFI 23087.02)
Note 1: Includes primary and secondary applicants.

2017                  2018
810                    1,376

Source: Department of Home Affairs, 2019 (RFI 23087.03)
Note 1: Applications decided is based on visas granted or refused.
Note 2: The processing time is calculated from the date of lodgement to the date of the decision.
Note 3: Where a visa application has gone to merits review, the processing time is calculated from date of lodgement to the original decision date.
Note 4: Figures are from a dynamic source and are subject to variations.

2017                    2018
437  DAYS          517 DAYS

Average processing times (calendar days) for subclass 188 Business Innovation and Investment (Provisional) primary visa applications decided in 2018 where the visa subtype is Investor - comparison with previous year
• Where applicable, with regards to Immigration data - as per current privacy guidelines, the Department’s policy is to mask numbers which are less than five as <5, noting we are
reviewing the confidentiality method for the future.
• The Department of Home Affairs must be consulted regarding any requests to use the data for purposes not originally intended or discussed.

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Posted : 22/05/2019 7:53 pm
Mark liked
Mark
 Mark
(@mark)
Reputable Member Admin

Excellent! Thanks for the updated information again mate.

Though the number of applicants for this visa class is pretty low, this will certainly serve as a source of good information for others! 

👍👍

Community Manager
Getting Down Under

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Posted : 24/05/2019 6:42 am
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