Jay. Posted December 5, 2019 Share Posted December 5, 2019 On 18/11/2019 at 04:38, Jalphonse said: Hi Manrug, TiMoniSam, Asif Sheikh, 3Together, I just received the grant today! Yay! It took me close to 18 months from application to grant. My best wishes to all of you waiting for your turn. I will checking this forum periodically, so if you have any questions and/or need any guidance I will be glad to help in whatever way I can. All the best, J Quote Link to comment Share on other sites More sharing options...
Jay. Posted December 5, 2019 Share Posted December 5, 2019 On 18/11/2019 at 04:38, Jalphonse said: Hi Manrug, TiMoniSam, Asif Sheikh, 3Together, I just received the grant today! Yay! It took me close to 18 months from application to grant. My best wishes to all of you waiting for your turn. I will checking this forum periodically, so if you have any questions and/or need any guidance I will be glad to help in whatever way I can. All the best, J Hi I’m waiting for the same visa it’s going to be 15 months on 20/12/19 I hope mine comes soon to. Quote Link to comment Share on other sites More sharing options...
3together Posted December 14, 2019 Share Posted December 14, 2019 On 03/12/2019 at 09:14, yymm said: Really thanks for our great help, I am now still under the process of gathering all the documents. And here are my questions: 1) Will Immigration Dept. check the details about my source of fund of AUD2.25M asset, for example, will they check it in details? for example: among the AUD2.25m, AUD1M is from legacy, AUD1M is from Salary, AUD0.25M is the profit from selling real estate, do I need to show all the transaction evidences(as we need to trace back all the statements more than a decades....or how to show my salary contributed to my Asset)? Or I can write a declaration to declare that the source of fund is based on Legacy, Salary and Investments is ok enough? 2) For the Point Test, regarding to the Point for "Investment Experience", how to prove that I have 4years investment experiences? If I am going to apply the visa in Jan 2020, is it correct that I should provide the Investment e-statements on 31 Dec of 2016,2017,2018,2019? If the amount is more that AUS10K in these e-statements(4 fiscal year), it can prove that I have 4 years investment experiences? 3) Is it all the e-statements must be on the same date(in my case is 31 Dec)? Can they accept 2 or 3 days difference? 4) Since you are using an immi agent, do you still need to make a statement on how to manage your business/investments or how can you make a successful business/investments..etc? Sorry for so many questions....As it is really difficult to find such kind of information ..... Let me try to give you some answers. Honestly, this was very, very complex for me as well. I think in total I turned more than 1,000 pages of paperwork. I am not an immi agent and I cannot really give you any advice or am sure, that this information are correct. This are only my experience of what my immi agent asked me to do and to provide for the 188B. A very complex process, if you do not have a single very valuable asset like a bigger company or a real estate portfolio. 1) My immi agent made me to prove every single transaction of the last 10 years which proved how I earned my money. So all tax reports for each year; anual salary reports; fiscal statements of my companies; buying and selling contracts of each real estate; Of course all needed to be translated in English and proved by a notary/ lawyer etc. Bank statements for the 3 date in the past (not easy to get it from your banks, if the date is not 31.12.). 2) a) In my case I had to prove that I am the manager of my companies. So not only on paper that I am the official CEO, but I had to turn in many documents which showed, that I do the daily work. Like employee contracts, customer contracts etc. which were signed by me. As well a CV, external proves like statements of clients or press articles. This was at last 100 pages. b) What you mean with an investment estatement of AUD 10k? You mean a bank information that you had +10.000 AUD of stock or so? That will probably not be sufficient. Like if you want to prove management of real estate, you must show that you manage it. Show the contracts with tenant etc. I would assume, that legacy and salary are not considered to be "investment experience". And if you can prove only, that you bought 1 real estate and sold it after years with a profit of 0.25m AUD, I dought that this is sufficient "investment experience". 3) Must be the same day. You could have transfered the money in the 3 days from bank 1 to bank 2. 4) Yes, you have to prove, that you are really managing it. Just owning the money is not sufficient. You have to prove the active management. They want to see that you will be able to do the same later in Australia, I suppose. So beeing a manager of a company. Or to mange a real estate portfolio. Preparing the paperwork took +6 month for me and an investment of +20.000 AUD. Like if you want declare a real estate asset, you cannot just turn in any valuation. It must be a RICS valuation. And these people take a lot of money to do it. + all morgages at the given dates, approved by your bank and a laywer etc. Good luck! I think you might be better off with an immi agent who did 188B before. Quote Link to comment Share on other sites More sharing options...
3together Posted December 19, 2019 Share Posted December 19, 2019 Australia is going to review the Business and Investor visa programm in 2020: https://www.homeaffairs.gov.au/reports-and-publications/submissions-and-discussion-papers/biip-getting-better-deal-australia?utm_campaign=SIV+Stakeholders+on+Home+Affairs+BIIP+Review&utm_medium=email&utm_source=Significant+and+Premium+Investor+Visas+IDC+Contacts Quote Link to comment Share on other sites More sharing options...
Lotusmimile Posted December 19, 2019 Share Posted December 19, 2019 On 18/11/2019 at 11:38, Jalphonse said: Hi Manrug, TiMoniSam, Asif Sheikh, 3Together, I just received the grant today! Yay! It took me close to 18 months from application to grant. My best wishes to all of you waiting for your turn. I will checking this forum periodically, so if you have any questions and/or need any guidance I will be glad to help in whatever way I can. All the best, J Hi Jalphonse, Congratulations! Can you share your opinion about this “ Have assets of AUD2.25 million During the 2 fiscal years immediately before we invite you to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million. These must be available for legal transfer to Australia within 2 years of the visa being granted. “ I understand that, I have to transfer all asset (may be more than 2.25M) to Aus. Is it right? Or I have to transfer only 2.25M to Aus? Thank you so much Quote Link to comment Share on other sites More sharing options...
3together Posted December 22, 2019 Share Posted December 22, 2019 On 19/12/2019 at 17:23, Lotusmimile said: Have assets of AUD2.25 million During the 2 fiscal years immediately before we invite you to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million. These must be available for legal transfer to Australia within 2 years of the visa being granted. “ I understand that, I have to transfer all asset (may be more than 2.25M) to Aus. Is it right? Or I have to transfer only 2.25M to Aus? Thank you so much When you get the via granted, you must transfer AUD 1.5m for the designated investment withhin 28 days. Then you have a certain timeframe (I think this are the mentioned 2 years) to transfer the AUD 0.75m for you personal used to Australia. So in total AUD 2.25m. You are free to transfer more than that, but this is the minimum you have to prove to immigration. Quote Link to comment Share on other sites More sharing options...
Lotusmimile Posted December 23, 2019 Share Posted December 23, 2019 Thank you 3together! Quote Link to comment Share on other sites More sharing options...
mapletree Posted January 27, 2020 Share Posted January 27, 2020 Hi 3together, just on the need to eventually transfer the balance 0.75m over within 2 years of the visa being granted, is this something explicitly stated in your 188b visa grant letter? I ask this because I'm looking at the migration regulations, for the permanent 888b investor stream and they do not list this as one of the qualifying criteria. They only state that you need to hold the designated investments for 4 years, and it doesn't seem that they enforce the requirement to transfer the balance 0.75m when eventually assessing for the grant of the permanent 888b visa . Thanks in advance for any feedback that you can provide! 888.23--Criteria for Investor stream Note: These criteria are only for applicants seeking to satisfy the primary criteria for a Subclass 888 visa in the Investor stream. 888.231 The applicant has been in Australia, as the holder of a visa mentioned in the table in subitem 1104BA(5) of Schedule 1, for a total period of at least 2 years in the 4 years immediately before the application was made. 888.232 The designated investment made by the applicant for the purpose of satisfying a criterion for the grant of a Subclass 188 (Business Innovation and Investment (Provisional)) visa has been held continuously in the name of the applicant, or in the names of the applicant and his or her spouse or de facto partner together, for: (a) if the Subclass 188 (Business Innovation and Investment (Provisional)) visa was granted on the basis of an application made before 1 July 2015--at least 3 years and 11 months; or (b) if the Subclass 188 (Business Innovation and Investment (Provisional)) visa was granted on the basis of an application made on or after 1 July 2015--at least 4 years. http://classic.austlii.edu.au/au/legis/cth/consol_reg/mr1994227/sch2.html Quote Link to comment Share on other sites More sharing options...
Jay. Posted January 27, 2020 Share Posted January 27, 2020 Hi Manrug, TiMoniSam, Asif Sheikh, 3Together, I just received the grant today! Yay! It took me close to 18 months from application to grant. My best wishes to all of you waiting for your turn. I will checking this forum periodically, so if you have any questions and/or need any guidance I will be glad to help in whatever way I can. All the best, JThe grant what you got is that the grant for visa or to put the money in after how many months did the Immgration said to put the money in , my application was submitted on 20/09/18 and we still waiting. Quote Link to comment Share on other sites More sharing options...
Guest manrug Posted January 28, 2020 Share Posted January 28, 2020 20 hours ago, mapletree said: Hi 3together, just on the need to eventually transfer the balance 0.75m over within 2 years of the visa being granted, is this something explicitly stated in your 188b visa grant letter? I ask this because I'm looking at the migration regulations, for the permanent 888b investor stream and they do not list this as one of the qualifying criteria. They only state that you need to hold the designated investments for 4 years, and it doesn't seem that they enforce the requirement to transfer the balance 0.75m when eventually assessing for the grant of the permanent 888b visa . Thanks in advance for any feedback that you can provide! 888.23--Criteria for Investor stream Note: These criteria are only for applicants seeking to satisfy the primary criteria for a Subclass 888 visa in the Investor stream. 888.231 The applicant has been in Australia, as the holder of a visa mentioned in the table in subitem 1104BA(5) of Schedule 1, for a total period of at least 2 years in the 4 years immediately before the application was made. 888.232 The designated investment made by the applicant for the purpose of satisfying a criterion for the grant of a Subclass 188 (Business Innovation and Investment (Provisional)) visa has been held continuously in the name of the applicant, or in the names of the applicant and his or her spouse or de facto partner together, for: (a) if the Subclass 188 (Business Innovation and Investment (Provisional)) visa was granted on the basis of an application made before 1 July 2015--at least 3 years and 11 months; or (b) if the Subclass 188 (Business Innovation and Investment (Provisional)) visa was granted on the basis of an application made on or after 1 July 2015--at least 4 years. http://classic.austlii.edu.au/au/legis/cth/consol_reg/mr1994227/sch2.html Hi Mapletree I believe prior to spplying for visa 888. You will need to get approval from the state sponsoring you to confirm that you have complied with the visa requirements. For example it is a condtion for Queensland that you must teansfer 0.75m aud within 2 years. Quote Link to comment Share on other sites More sharing options...
mapletree Posted January 28, 2020 Share Posted January 28, 2020 Hi manrug, thanks for your reply. That's a very good point , the state needs to "reconfirm" its nomination but the criteria for that isn't stated in the migration instrument schedule. I'll try to look up the state criteria for that purpose. Thanks again ! Quote Link to comment Share on other sites More sharing options...
mapletree Posted January 28, 2020 Share Posted January 28, 2020 10 hours ago, Jay. said: The grant what you got is that the grant for visa or to put the money in after how many months did the Immgration said to put the money in , my application was submitted on 20/09/18 and we still waiting. Jay , from what I've observed recent cases have been taking 16-18 months from lodgement to progression. They also seem to have stopped processing applications over the December holiday period. Given your application date I expect you'd hear from immigration late Feb to March ,which is pretty soon Quote Link to comment Share on other sites More sharing options...
Asif Shaikh Posted January 30, 2020 Share Posted January 30, 2020 On 15/01/2019 at 12:29, Indo said: I applied on 1st may and still waiting since 8.5 months. My friend got additional documents request after 10 months from application. Hi Indo Do you have received any update from case officer? Quote Link to comment Share on other sites More sharing options...
3together Posted February 3, 2020 Share Posted February 3, 2020 On 27/01/2020 at 09:00, mapletree said: Hi 3together, just on the need to eventually transfer the balance 0.75m over within 2 years of the visa being granted, is this something explicitly stated in your 188b visa grant letter? I ask this because I'm looking at the migration regulations, for the permanent 888b investor stream and they do not list this as one of the qualifying criteria. They only state that you need to hold the designated investments for 4 years, and it doesn't seem that they enforce the requirement to transfer the balance 0.75m when eventually assessing for the grant of the permanent 888b visa . Thanks in advance for any feedback that you can provide! Hi, I am not sure about this in detail. I only have the information by my agent that I need to transfer the AUD 0.75m withhin 2 years. This money is for personal use. I suppose there is someone who will check it. Quite possible this will be checked by the state, not by immigration. If you check the criteria of NSW, you see there they state the 2.25m for reginal and even 3.0m for Sydney. So it seems it depends on the state to set this criteria, so they should be the ones who will check it. But it does not state that you need to transfer them to Australia. But I was told by my agent, that I have to transfer the money withhin 2 years. ttps://www.industry.nsw.gov.au/__data/assets/pdf_file/0005/58739/188B-Investor-nomination-criteria.pdf Quote Link to comment Share on other sites More sharing options...
3together Posted February 3, 2020 Share Posted February 3, 2020 On 28/01/2020 at 08:08, mapletree said: Jay , from what I've observed recent cases have been taking 16-18 months from lodgement to progression. They also seem to have stopped processing applications over the December holiday period. Given your application date I expect you'd hear from immigration late Feb to March ,which is pretty soon If you launch an application now, I heard that they give you the estimation of 22/24 month for the 75% and 90% processing value. The immigration website does not give a prosessing time right now. In my application it is still 20/22 month. Quote Link to comment Share on other sites More sharing options...
Jay. Posted February 3, 2020 Share Posted February 3, 2020 Yea I have seen that Quote Link to comment Share on other sites More sharing options...
mapletree Posted February 4, 2020 Share Posted February 4, 2020 13 hours ago, 3together said: Hi, I am not sure about this in detail. I only have the information by my agent that I need to transfer the AUD 0.75m withhin 2 years. This money is for personal use. I suppose there is someone who will check it. Quite possible this will be checked by the state, not by immigration. If you check the criteria of NSW, you see there they state the 2.25m for reginal and even 3.0m for Sydney. So it seems it depends on the state to set this criteria, so they should be the ones who will check it. But it does not state that you need to transfer them to Australia. But I was told by my agent, that I have to transfer the money withhin 2 years. ttps://www.industry.nsw.gov.au/__data/assets/pdf_file/0005/58739/188B-Investor-nomination-criteria.pdf Thanks for the information 3together, much appreciated! Quote Link to comment Share on other sites More sharing options...
Steve Elliott Posted February 4, 2020 Share Posted February 4, 2020 Regarding the 888 nomination, this still requires nomination from State or Territory. They will be looking at evidence of you moving the extra 750k to Australia within 2 years of visa grant. The expectation is THA these funds will be used as settlement funds for housing, supporting yourself financially etc. Quote Link to comment Share on other sites More sharing options...
3together Posted February 19, 2020 Share Posted February 19, 2020 Does anybody know how much interest you get on the AUD 1.5m which you have to invest in state bonds? Are there specific bonds you have to buy or can you choose any available on the market? Quote Link to comment Share on other sites More sharing options...
Jay. Posted February 20, 2020 Share Posted February 20, 2020 Does anybody know how much interest you get on the AUD 1.5m which you have to invest in state bonds? Are there specific bonds you have to buy or can you choose any available on the market? I don’t no Quote Link to comment Share on other sites More sharing options...
mapletree Posted February 21, 2020 Share Posted February 21, 2020 On 20/02/2020 at 08:42, 3together said: Does anybody know how much interest you get on the AUD 1.5m which you have to invest in state bonds? Are there specific bonds you have to buy or can you choose any available on the market? You can find the rates here: https://www.tcv.vic.gov.au/immigration-investors/immigration-investment-rates and no, you have no options whatsoever, you can only buy the 4 year bonds from TCV at the rates they dictate, which are atrocious even for the current market. Quote Link to comment Share on other sites More sharing options...
Asif Shaikh Posted February 23, 2020 Share Posted February 23, 2020 Hi guys I have checked my application status on immigiration website buy not any update shows on it. Can anyone update ma about it? Quote Link to comment Share on other sites More sharing options...
Jay. Posted February 23, 2020 Share Posted February 23, 2020 Hi guys I have checked my application status on immigiration website buy not any update shows on it. Can anyone update ma about it? When I applied my daughter was 21 now she is going to be 23 do I need to withdraw her Quote Link to comment Share on other sites More sharing options...
Lotusmimile Posted February 24, 2020 Share Posted February 24, 2020 On 24/02/2020 at 02:50, Jay. said: When I applied my daughter was 21 now she is going to be 23 do I need to withdraw her No, don’t need. When you lodge visa, your daughter was 21yo, it’s ok. She will get visa when she is over 23. Quote Link to comment Share on other sites More sharing options...
Steve Elliott Posted February 25, 2020 Share Posted February 25, 2020 On 24/02/2020 at 17:31, Lotusmimile said: No, don’t need. When you lodge visa, your daughter was 21yo, it’s ok. She will get visa when she is over 23. I think you will find this incorrect. The age limit is a “time of decision” criteria not “time of application”. Thus the most likely outcome is that you will be requested to withdraw her from the application. Steve Elliott MARN 1804671 Quote Link to comment Share on other sites More sharing options...
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