scaredycat

15 hours ago, Steve Elliott said:

No impact. it's just the 188 as anyone who holds a 188 is already on a pathway to PR via the associated 888. What I am seeing at the moment is a number of 188 holders now in Australia applying for other visas to fast track PR which makes a big difference to the costs of buying a home. 

I can fully understand why they would choose another visa to fast track it as it must be really difficult living in limbo.

I had my 188C granted just before Easter and have just returned back home after validating it. After reviewing all the options,  I’ve decided it’s more cost effective to buy a plot of land and build and at least I won’t have the hassle of trying to find a rental property either. There’s still the extra 7% stamp duty on the land and the FIRB fees but overall it works out a little bit cheaper than if I’d bought the same size established house as a permanent resident on the lower stamp duty and it’ll be brand new and designed how I want it once it’s built. 

On 23/06/2023 at 08:26, Leni W said:

Latest update on 22 Jun 2023 for 888 (Significant Investor):

• 25% of applications: 34 Months
• 50% of applications: 36 Months
• 75% of applications: 37 Months
• 90% of applications: 38 Months

 

"Significant investor subclass 888 visa holders protest against permanent residency processing time":

https://www.abc.net.au/news/2023-06-16/significant-investor-subclass-888-visa-holders-protest/102490038?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_web

Leni, are you still waiting for yours to be processed? Have you had any communication from immigration and a reason for the delay? 

I’m curious as to what impact reducing the migration planning level to 1900 will have going forward. Is the 1900 just for 188 or is it for both 188 and 888? 

Hi Leni,

Thanks for clarifying. I agree it shouldn’t be that long given all that’s required is to prove that all conditions on the 188 have been met so there shouldn’t actually be that much work for the visa processing staff to actually do. I accept that the priority is to focus on visas for people to actually be allowed to come into the country, but it wouldn’t be so bad if we had an exemption on the 7% additional stamp duty so we can buy a home and also maintain travel rights during the time on the bridging visa. It’s actually making me seriously reconsider whether I should even make the investment if it means I’m either having to pay for an expensive rental property in 5 years time or unable to enter Australia if my 188 visa runs whilst I’m offshore. 

Hi Steve,

I’m sure you didn’t intend to patronise me, nor to insult my intelligence, although I’m afraid it did rather come across like that. However, I’m neither confused nor am I even in Australia yet.

As I previously mentioned to you when you emailed me, I’m still in the process of completing my application for 188C and am now awaiting an invitation to invest which I already have the help of an agent to do. I was merely expressing concern at how much processing times for the next stage appear to have increased since Leni applied and hope this is not an indication of what it will be like when I’m at that same stage, especially if she was only expecting to wait 1 year rather than 3 years.  I’m fully aware that it changes according to the situation at the time and it will be several years before I can even think about applying for my 888 visa. I also expressed sympathy for those frustrated on bridging visas, especially if they are still living in rented accommodation and ultimately spending more than if they’d purchased a property despite the additional cost of stamp duty or FIRB fees. I will need to make some decisions to mitigate against this and it’s more around judging how property prices are likely to be impacted over the next few years. I don’t think even the experts get that one right all the time. 

4 hours ago, Leni W said:

Latest update for 888 (Significant Investor):

• 25% of applications: 26 Months
• 50% of applications: 27 Months
• 75% of applications: 30 Months
• 90% of applications: 34 Months

34 months is almost 3 years on a bridging visa. When we applied it was supposed to be 1 year.

 

Hi Leni, 

Was the 1 year based on 90% when you applied, as that’s a really big increase on processing time if so. It helps to know as it affects decisions on whether to take the hit on the extra stamp duty and buy a property from the outset or just be prepared to rent for a few years longer than expected. Hope you get yours granted soon as it’s not easy living on a bridging visa when you can’t even go on holiday without permission to get back home. 

Thank you both for your helpful insights. I’ve taken your advice on board and plan on using the services of a migration agent who has been recommended to me and hopefully all my queries will be answered 

Hi Marissa,

Yes it’s something we need to think about. At this stage though all I want is a bit of insight from someone who’s applied for their 888 through WA and can let me know what questions are asked requiring dependants and then we can decide how to proceed from there 

Hi Steve,

I’ve applied for the 188c a few months ago and still waiting to be able to invest but I have a son who will be going to university soon and hopes to do his masters in Australia but it would be unaffordable if we’re not likely to have PR in about 4 years time, so I’d probably live most of the time here in Ireland until he graduates and hope we’ve got PR before then. The other question I have is that he’d like to travel around Australia during his gap year and pick up odd jobs but WA is the state that nominated us and they specify that anyone who’s lives in Australia can’t live, work or study in another state as they won’t then be nominated for 888. How do they check this and would travelling in their gap year be a breach as they wouldn’t be permanently living in another state. Does the nomination form for 888 ask whether they’ve ever worked in another state? It’s all giving us doubts to be honest.

I've been reading this forum as in the process of applying for our 188C and want to be sure of the next step before we commit further and would like some insight from those of you who have either applied for 888 or about to.

Were you asked for police certificates and health checks early in the application and if they expired due to a long time in visa processing did you need to do it again?

I read that somebody withdrew their investments as soon as they applied. Is it ok to do this or do we need to maintain them until PR is granted?

Does it make any difference to processing times whether the application for 888 is done onshore or offshore?

Does anyone know why it takes such a long time to process given it just requires proof that the investments were compliant and still in place?