Investor Visa Subclass 188b

[oz.soup4]

Hi everyone, 

It is been a while since I joined you guys for a chat. I just want to share with you that we received a request for more information from the case officer and are in the process of submitting the documents!!! 

For your information: we submitted our application (188b) on 30/11/2018 and went through all the medical and police clearance stages. Unfortunately we have to redo our medical exam and hope soon to be progressed to the next stage!!!

How is everyone doing? and how is the application process going for you guys? 

Greetings from Spain! 

[3together]

On 06/11/2020 at 09:42, oz.soup4 said:

Hi everyone, 

It is been a while since I joined you guys for a chat. I just want to share with you that we received a request for more information from the case officer and are in the process of submitting the documents!!! 

For your information: we submitted our application (188b) on 30/11/2018 and went through all the medical and police clearance stages. Unfortunately we have to redo our medical exam and hope soon to be progressed to the next stage!!!

How is everyone doing? and how is the application process going for you guys? 

Greetings from Spain! 

Great to hear you are getting processed. We are from Germany, so should be in the same queue. We applied 08/11/2018 for 188B as well. We have not heared back from immigration since we submitted our medical 11/01/2019. ??? Very strange, as we should get a case office before you? I can start to cry when I hear this. Anybody has a clue, why this might be like this???

[Jay.]

My application was submitted on 20/09/2018 only know in September 8th had a email from the Immigration to process with the bond people and we still are in process with them.

coming back and forward with some paper work  .once the money goes in I will inform you guys.

[FMH]

We’re in initial stages of finding out about 188b. Can anyone please advise where to go to find specific State requirements for Qld & WA? Also the return on State bonds - is it a fixed percentage?

[Alan Collett]

For Qld - https://migration.qld.gov.au/business-visa-options/subclass-188b/

For WA - https://www.businessmigration.wa.gov.au/business-migration/provisional-business-visas/visa-188-business-innovation-and-investment-investor-stream

Interest paid on State Government issued Designated Investments is usually at a fixed rate, and is paid every 6 months.

If you are a couple from a tax mitigation perspective it is usually best to have joint account holders for the DI so the interest is split on a 50/50 basis.

Best regards.

[FMH]

3 hours ago, Alan Collett said:

For Qld - https://migration.qld.gov.au/business-visa-options/subclass-188b/

For WA - https://www.businessmigration.wa.gov.au/business-migration/provisional-business-visas/visa-188-business-innovation-and-investment-investor-stream

Interest paid on State Government issued Designated Investments is usually at a fixed rate, and is paid every 6 months.

If you are a couple from a tax mitigation perspective it is usually best to have joint account holders for the DI so the interest is split on a 50/50 basis.

Best regards.

Thanks Alan. We are over 55 yrs & understand that WA will consider an age waiver & that NSW does not. Do Qld or any other states consider age waivers?

[FMH]

4 hours ago, Alan Collett said:

Qld - https://migration.qld.gov.au/business-visa-options/subclass-188b/

For WA - https://www.businessmigration.wa.gov.au/business-migration/provisional-business-visas/visa-188-business-innovation-and-investment-investor-stream

Interest paid on State Government issued Designated Investments is usually at a fixed rate, and is paid every 6 months.

If you are a couple from a tax mitigation perspective it is usually best to have joint account holders for the DI so the interest is split on a 50/50 basis.

Best regards.

[FMH]

Can anyone on the forum assist with interest rates on designated investments  for example in Qld & WA.

Have seen a figure of 0.05% for WA. Seems very low if one is needing an income from an investment

[3together]

9 hours ago, FMH said:

Can anyone on the forum assist with interest rates on designated investments  for example in Qld & WA.

Have seen a figure of 0.05% for WA. Seems very low if one is needing an income from an investment

They tell you only when you do the investment. But consider the offical Cash Rate of RBA. Why the Australian Government should pay you more than that for AAA bonds? https://www.rba.gov.au/statistics/cash-rate/ The rate is now on historic low like 0.10%. 

[Steve Elliott]

17 hours ago, FMH said:

Can anyone on the forum assist with interest rates on designated investments  for example in Qld & WA.

Have seen a figure of 0.05% for WA. Seems very low if one is needing an income from an investment

A few points here.

3 together is totally correct. Rates do fluctuate but with yields at historic lows and the state Governments with credit ratings of AA+, just one notch down from the Commonwealth, the best you could hope for is 0.5% maximum (and that's optimistic).

Also based on the recent review of business visas, with the Government wanting funds to go to more productive investments, I suspect the 188b will not be around in it's current form beyond June 30 2021. 

if you are aged over 55, it is possible with some states to obtain an exemption however usually this means your application needs to be of "exceptional benefit to the State". In other words, in order to gain a nomination when over 55, the State will likely require the size of the DI to be significantly higher than that required by the Department.

You also need to bear in mind several states are closed to new applications at the moment as they are dealing with a big backlog.

I would suggest you thoroughly investigate your options, determine whether you can meet the "exceptional economic benefit criteria" then make a decision and get your paperwork in order.

Good luck

 

 

[AYL]

Did anyone hear that the concession for time period? In past, there is only 28 days for the completion of bond purchase, isn't it? Thanks

[Steve Elliott]

Typically you get 28 days to make the DI and then lodge the required paperwork with DHA. You can request an extension if you have a valid reason such as unforseen delays in liquidating the investments on the SALP you submit.

2 hours ago, AYL said:

Did anyone hear that the concession for time period? In past, there is only 28 days for the completion of bond purchase, isn't it? Thanks

 

[Steve Elliott]

On 11/11/2020 at 17:29, AYL said:

Did anyone hear that the concession for time period? In past, there is only 28 days for the completion of bond purchase, isn't it? Thanks

It is still generally 28 days although extensions are generally granted where there is a valid reason.

 

[3together]

We got a CASE OFFICER! Finally, after 24 month and 2 days. 188B from Germany. Still a long list of requested documents:

a) do medical again. Why they as for it in the beginning when you apply, as it is max. valid 18 month and processing time is more than that? 

b) police check of all countries we lived more than 12 month withhin the last 10 years. Difficult to optain during Corona. 

c) Divers documents regarding the investment, point test etc. 

Our immigration agent will check now the list and we will see how much effort it takes to provide all this documentation. They gave us 70 days to do so. 

[Lok]

21 hours ago, 3together said:

We got a CASE OFFICER! Finally, after 24 month and 2 days. 188B from Germany. Still a long list of requested documents:

a) do medical again. Why they as for it in the beginning when you apply, as it is max. valid 18 month and processing time is more than that? 

b) police check of all countries we lived more than 12 month withhin the last 10 years. Difficult to optain during Corona. 

c) Divers documents regarding the investment, point test etc. 

Our immigration agent will check now the list and we will see how much effort it takes to provide all this documentation. They gave us 70 days to do so. 

Congratulations. ... finally you got it

[Asif Shaikh]

On 14/11/2020 at 01:14, 3together said:

We got a CASE OFFICER! Finally, after 24 month and 2 days. 188B from Germany. Still a long list of requested documents:

a) do medical again. Why they as for it in the beginning when you apply, as it is max. valid 18 month and processing time is more than that? 

b) police check of all countries we lived more than 12 month withhin the last 10 years. Difficult to optain during Corona. 

c) Divers documents regarding the investment, point test etc. 

Our immigration agent will check now the list and we will see how much effort it takes to provide all this documentation. They gave us 70 days to do so. 

Congratulations. Hope everything will be finalized soon

[Manrug]

On 13/11/2020 at 20:14, 3together said:

We got a CASE OFFICER! Finally, after 24 month and 2 days. 188B from Germany. Still a long list of requested documents:

a) do medical again. Why they as for it in the beginning when you apply, as it is max. valid 18 month and processing time is more than that? 

b) police check of all countries we lived more than 12 month withhin the last 10 years. Difficult to optain during Corona. 

c) Divers documents regarding the investment, point test etc. 

Our immigration agent will check now the list and we will see how much effort it takes to provide all this documentation. They gave us 70 days to do so. 

Great news and good luck with the final hurdle.

[Lotusmimile]

On 14/11/2020 at 03:14, 3together said:

We got a CASE OFFICER! Finally, after 24 month and 2 days. 188B from Germany. Still a long list of requested documents:

a) do medical again. Why they as for it in the beginning when you apply, as it is max. valid 18 month and processing time is more than that? 

b) police check of all countries we lived more than 12 month withhin the last 10 years. Difficult to optain during Corona. 

c) Divers documents regarding the investment, point test etc. 

Our immigration agent will check now the list and we will see how much effort it takes to provide all this documentation. They gave us 70 days to do so. 

Congratulations 

[saher 1]

On 14/11/2020 at 06:14, 3together said:

 

I applied on the 30/12/2018 and last week they requested more information! 
 

1-police reports

2- medical examination to be done again 

they gave me 28 days to supply them with the documents.

does anyone know what to expect after this.

t

[Lok]

43 minutes ago, saher 1 said:

I applied on the 30/12/2018 and last week they requested more information! 
 

1-police reports

2- medical examination to be done again 

they gave me 28 days to supply them with the documents.

does anyone know what to expect after this.

t

3 - if no problem found on 1 & 2, time to prepare 1.5M and champagne  

[3together]

8 hours ago, saher 1 said:

I applied on the 30/12/2018 and last week they requested more information! 
 

1-police reports

2- medical examination to be done again 

they gave me 28 days to supply them with the documents.

does anyone know what to expect after this.

t

Congratulations! We are heading today to our 2nd medical examination as well. Keep my fingers crossed for you. 

[saher 1]

On 24/11/2020 at 21:15, 3together said:

Congratulations! We are heading today to our 2nd medical examination as well. Keep my fingers crossed for you. 

Thank you ! Hope everything goes well,

We did the medical examination today, police checks are ready and also the money in the bank.

do you know how long till i get the transfer request after I submit those documents? 

[Asif Shaikh]

Yesterday I received additional documents requested:

1) Madical 

2) police check

3) Divers documents regarding the investment, point test etc. Timlines before 19th December 2020.

[Steve Elliott]

11 hours ago, Asif Shaikh said:

Yesterday I received additional documents requested:

1) Madical 

2) police check

3) Divers documents regarding the investment, point test etc. Timlines before 19th December 2020.

Just make sure that the documents regarding the points test, totally support the number of points you claimed. This is extremely important.  Good luck with it. It sounds as though you are on the home stretch !!

[Asif Shaikh]

Thanks Steve

Can you provide your email ID?