Investor Visa Subclass 188b

[Foot356]

34 minutes ago, jun689 said:

Thanks, but once if travel back to home country, can fly back Australia afterwards? 

I guess  the answer is yes and hope I am right

Yes. 188 visa is a automatic exempt category to enter Australia 

[DJT]

5 hours ago, jun689 said:

Great to hear that and hope everything goes smooth on your travel. 

May I have the email address of BIIP Adelaide or apply online?

 

Sure, please have a read of this thread: https://www.reddit.com/r/AusFinance/comments/gjwi7a/will_immigration_demand_to_australianew_zealand/fqo1j3u/.compact. You will find a lot of useful info as well as contact details. HTH

[jun689]

thanks!

[3together]

Hello to all newcommers. It took us 2,5 years to get our 188B and finally we got it. Honestly, it was a long way to go, loads of paperwork and I could not have handeled it by my own. I just like to give a positive feedback of our migration agent from HongKong. Why HongKong? Well, 90% of all 188x visas go to China and HK. So I expected them to have more experience in this visa class than others. We used John Hu = John Hu Migration. He used to live in Australia and now runs a visa office in HK. For me, it was great, as he just told me what to do next, which paperwork he needs for which step etc. It saved me a lot of time and honestly, I did not think that so much documentation would be requested by immigration. He did make me prepare all in advance, so we were ready with the paperwork in time. The total application was +900 pages, including my business balance sheets etc. 

Our timeline:

06.03.18 contract with migration consultant (from HK) 
03.10.18 applied for NSW sponsorship
22.10.18 Invitation by NSW
04.11.18 IMMI application/ EOI 
08.11.18 payment processed for EOI  // 120 points (option for add. 25 points)
08.11.18 Loging date. Case number.
09.11.18 additional information request by CO; form 80, medical checks
11.01.19 medical transmitted by physician  (medical valid only 12 (10.01.2020) month = can be extended up to 18 (medical expires 10.07.2020) month?)
09.11.19 = 1 year waiting time
09.04.20 = 17 month waiting time (average processing time 2018) 
09.07.20 = 20 month waiting time (20-22 month average processing time 2019 infomation) 
10.07.20 = medical expires after 18 month 
10.09.20 = Australia opens up boarders for 188 visa holders
27.10.20 = Processing times increased to 29-30 Monate für 188B
11.11.20 = Got a case officer. long list of questions. All answers were provided in the application, but seems CO needs some help to find them in the 900 pages. Medical exams again, police checks again, long list regarding point test. 
23.12.20 = answers send to all questions, did medical and police check in 2 countries again. 
11.01.20 = confirmation for visa, start of investment process
26.03.21 = confirmation to start the investement of AUD 1.5m
31.03.21 = Transfer send to bank
09.04.21 =  account transfer overview certified send to Australia by postmail
15.04.21 = postmail arrived in Sydney at bond company
22.04.21 = visa granted
23.05.21 = investment certificate send by postmail to Germany. Interest confirmation of 0.3% p.a. 

 

[Steve Elliott]

On 28/05/2021 at 01:47, 3together said:

Hello to all newcommers. It took us 2,5 years to get our 188B and finally we got it. Honestly, it was a long way to go, loads of paperwork and I could not have handeled it by my own. I just like to give a positive feedback of our migration agent from HongKong. Why HongKong? Well, 90% of all 188x visas go to China and HK. So I expected them to have more experience in this visa class than others. We used John Hu = John Hu Migration. He used to live in Australia and now runs a visa office in HK. For me, it was great, as he just told me what to do next, which paperwork he needs for which step etc. It saved me a lot of time and honestly, I did not think that so much documentation would be requested by immigration. He did make me prepare all in advance, so we were ready with the paperwork in time. The total application was +900 pages, including my business balance sheets etc. 

Our timeline:

06.03.18 contract with migration consultant (from HK) 
03.10.18 applied for NSW sponsorship
22.10.18 Invitation by NSW
04.11.18 IMMI application/ EOI 
08.11.18 payment processed for EOI  // 120 points (option for add. 25 points)
08.11.18 Loging date. Case number.
09.11.18 additional information request by CO; form 80, medical checks
11.01.19 medical transmitted by physician  (medical valid only 12 (10.01.2020) month = can be extended up to 18 (medical expires 10.07.2020) month?)
09.11.19 = 1 year waiting time
09.04.20 = 17 month waiting time (average processing time 2018) 
09.07.20 = 20 month waiting time (20-22 month average processing time 2019 infomation) 
10.07.20 = medical expires after 18 month 
10.09.20 = Australia opens up boarders for 188 visa holders
27.10.20 = Processing times increased to 29-30 Monate für 188B
11.11.20 = Got a case officer. long list of questions. All answers were provided in the application, but seems CO needs some help to find them in the 900 pages. Medical exams again, police checks again, long list regarding point test. 
23.12.20 = answers send to all questions, did medical and police check in 2 countries again. 
11.01.20 = confirmation for visa, start of investment process
26.03.21 = confirmation to start the investement of AUD 1.5m
31.03.21 = Transfer send to bank
09.04.21 =  account transfer overview certified send to Australia by postmail
15.04.21 = postmail arrived in Sydney at bond company
22.04.21 = visa granted
23.05.21 = investment certificate send by postmail to Germany. Interest confirmation of 0.3% p.a. 

 

Congratulations 3together. I am sure Australia will be a you ever hoped it would be and more!

900 pages, that's huge, but not uncommon these days. There is always a balance between providing all the information required as concisely as possible without overloading the delegate and drowning them in paper. Knowing what is "just right" is the trick.

Just so other readers don't misunderstand, 3together is totally correct the majority of business visa applications are processed by the Australian Government in Hong Kong however the location of the visa processing has nothing to do with where the Registered Migration Agent is located, instead, it is determined by the passport of the applicant. As a rule of thumb, Chinese and HK applications tend to be processed in HK, while the balance are processed in Adelaide in South Australia. Neither the applicant or migration agent has any influence where the visa is processed. The percentage of applicants lodging applications though agents has risen significantly in recent years, from 60% in 2014 to well over 80% today and rising. What is very interesting is that the refusal rate is steady at around 12-13% however, much when you add in the less talked about "withdrawals" the overall failure rate to around 25%. 

Edited May 31, 2021 by Steve Elliott

[Asif Shaikh]

Hi everyone 

Today I received designated investment email .

They requested that provide evidence to support the movement of funds into Australia.

Can anyone share any format on how can we share my accounts and asstes detail ?

For those who received there investment email kindly share how did you submit the investment funds transfer into Australia.

[3together]

1 minute ago, Asif Shaikh said:

Hi everyone 

Today I received designated investment email .

They requested that provide evidence to support the movement of funds into Australia.

Can anyone share any format on how can we share my accounts and asstes detail ?

For those who received there investment email kindly share how did you submit the investment funds transfer into Australia.

Well, you need to take funds out of your SALP. Only this funds are eligible. And you have to prove, you did use them for the transfer. We did send the bank account statement before the transfer, the transfer statement and the bank account statement after the transfer. It all had to be certified copies. 

[Asif Shaikh]

Thanks 3together.

Plz can you provide me your whatsp number also I need some other information required if possible for you?

[Asif Shaikh]

Also i have opened some more accounts last year these accounts are  not mention in SALP when i applied it. Can we use these account for amount transferred?

[jun689]

On 03/06/2021 at 20:25, Asif Shaikh said:

Also i have opened some more accounts last year these accounts are  not mention in SALP when i applied it. Can we use these account for amount transferred?

On 25/05/2021 at 15:35, DJT said:

Sure, please have a read of this thread: https://www.reddit.com/r/AusFinance/comments/gjwi7a/will_immigration_demand_to_australianew_zealand/fqo1j3u/.compact. You will find a lot of useful info as well as contact details. HTH

cannot for sure. Only account mentioned at SALP is allowed

Edited June 5, 2021 by jun689

[Steve Elliott]

On 03/06/2021 at 22:25, Asif Shaikh said:

Also i have opened some more accounts last year these accounts are  not mention in SALP when i applied it. Can we use these account for amount transferred?

I get asked this a lot. What is imperative is that the funds ultimately used for the designated investment MUST originate from the assets nominated in the SALP. Once the SALP investment has been liquidated, the funds can pass through accounts not listed on the SALP. You do however need to evidence a clear money trail from the SALP to the designated investment. The evidence you submit should clearly show funds entering and leaving each account all of which should be in the applicants name. 
I hope this I helps and good luck!

[jun689]

On 03/06/2021 at 20:25, Asif Shaikh said:

 

Edited June 13, 2021 by jun689
error

[jun689]

Do we need to do medical check again for granting the 888 visa, even though we did medical check during the 188 application? Thanks ahead

[Steve Elliott]

On 14/06/2021 at 00:17, jun689 said:

Do we need to do medical check again for granting the 888 visa, even though we did medical check during the 188 application? Thanks ahead

Yes you do. You are required to meet the health criteria  for the 888 however the requirement can be waived by the minister on certain grounds.

[Steve Elliott]

On 05/06/2021 at 21:11, Steve Elliott said:

I get asked this a lot. What is imperative is that the funds ultimately used for the designated investment MUST originate from the assets nominated in the SALP. Once the SALP investment has been liquidated, the funds can pass through accounts not listed on the SALP. You do however need to evidence a clear money trail from the SALP to the designated investment. The evidence you submit should clearly show funds entering and leaving each account all of which should be in the applicants name. 
I hope this I helps and good luck!

It’s worth adding that if you really wish to use funds not on your SALP, there is nothing in legislation to say you are compelled to do so, however, and here’s the rub. When you receive your invitation to invest letter, the. DHA has already completed its due diligence on what you have submitted. If you now wish to nominate new funds not detailed on the SALP, the due diligence has to start again and that means delays but also a risk the fresh information could lead to further RFIs or even refusal. 

[jun689]

On 15/01/2021 at 17:33, spherical said:

Foreign income isn't taxable except income earned from employment.

https://www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Income/Foreign-income-exemption-for-foreign-residents/

But "employment" should not apply to most people.

 

BTW, congrats 3together.

if buying US stock in Australia Bank account, those profit is taxable under TR status?

[King3]

On 24/05/2021 at 17:36, DJT said:

Hi King3,

I received my 188b visa in Nov 2019. My first entry date was Nov 2020. Since I could not travel owing to the pandemic, I asked for an extension with BIIP Adelaide and received a facilitation notice that permits me to travel anytime before my must arrive date. I am marking my first entry into Melbourne this week. Hope this helps. 
 

Cheers,

DJT

Hi DJT,

Thank you for your information, luckily we got the airline for our initial entry to Sydney on early June and we have came back to our home country. We have scheduled to move to Sydney in Jan 2022.

Cheers

King3

[DJT]

On 09/07/2021 at 02:11, King3 said:

Hi DJT,

Thank you for your information, luckily we got the airline for our initial entry to Sydney on early June and we have came back to our home country. We have scheduled to move to Sydney in Jan 2022.

Cheers

King3

Good to hear, King3! All the best for your move to SYD next year.

[DJT]

On 15/06/2021 at 19:03, Steve Elliott said:

It’s worth adding that if you really wish to use funds not on your SALP, there is nothing in legislation to say you are compelled to do so, however, and here’s the rub. When you receive your invitation to invest letter, the. DHA has already completed its due diligence on what you have submitted. If you now wish to nominate new funds not detailed on the SALP, the due diligence has to start again and that means delays but also a risk the fresh information could lead to further RFIs or even refusal. 

Hi Steve,

A quick question for you:

Would investments in managed funds (ETFs, actively managed funds) through a Victoria-based investment management company such as Vanguard qualify as eligible additional investment for the purposes of the 888 visa nomination? Please note that the obligation during the time of my 188 application in mid-2018 required me to demonstrate that I have undertaken additional business or investment activity in Victoria during my provisional visa period (note there was no explicit mention of the additional investment amount of 500k as is the case for applications after July 2019). Looking forward to your inputs on this front.

Cheers,

DJT

 

 

Edited July 30, 2021 by DJT

[Asif Shaikh]

Can anyone confirm me designated investment 1.5 MN funds transfer in Personal account name or NSW treasury corporation department name?

[jun689]

On 31/07/2021 at 18:09, Asif Shaikh said:

Can anyone confirm me designated investment 1.5 MN funds transfer in Personal account name or NSW treasury corporation department name?

NSW， not personal

[3together]

Happy New Year to you all! 

We finally made it to Australia on the 188B visa. We arrived 28.12.21 in Sydney. It was very easy at the airport. Just a few checks regarding Covid. The visa was in the system, so they even did not ask for it. All the best for all still trying to get the visa!

[DJT]

15 minutes ago, 3together said:

Happy New Year to you all! 

We finally made it to Australia on the 188B visa. We arrived 28.12.21 in Sydney. It was very easy at the airport. Just a few checks regarding Covid. The visa was in the system, so they even did not ask for it. All the best for all still trying to get the visa!

Congrats 3together! Wish you and family a wonderful new year 2022. 
 

I have been here in Melbourne on the 188b since May 28th 2021. If you need any help whatsoever as you get settled please don’t hesitate to DM me. Good luck. 

[Alan Collett]

18 minutes ago, 3together said:

Happy New Year to you all! 

We finally made it to Australia on the 188B visa. We arrived 28.12.21 in Sydney. It was very easy at the airport. Just a few checks regarding Covid. The visa was in the system, so they even did not ask for it. All the best for all still trying to get the visa!

Excellent - well done!

Having 2 summers in one year is very wise!

If you'd like a freebie chat about tax in the UK and/or Australia feel able to ping a Private Message to me, or complete the enquiry form at www.bdhtax.com.

Ditto anyone else on this thread.

Best regards.

[jun689]

I am primary holder of 188B visa of Queensland nomination. How should  I do or am I eligible to apply 888B visa if my family has been resided in Queensland for 3 years but myself has been living in Sydney due to work reason?