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SC 188 5. Significant Investor Extension

 

OverviewThis visa allows holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders to extend their stay in Australia for up to 4 more years.
Visa typeProvisional
Cost of applicationFrom AUD645 (see ’cost’ below for additional information)
Duration of visa

If you held SC 188 Significant investor stream visa for 4 years- 2 additional years through the extension stream

If you held SC 188 Significant Investor Extension Stream (4+2=6 years)- 2 additional years

Uses of this visa
  • carry out investment activities in Australia
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met
Eligibility

Applicants must meet the following requirements-

  • Have not held more than one Significant Investor Extension stream visa
  • You must continue to hold your complying significant investment in accordance with the complying investment framework in place at the time you applied for this visa.
  • hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream and have held that visa for at least 3 years; or
  • hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream and not have held more than one of these visas
  • Have a current nomination from a State or Territory agency before being invited to apply for this visa.
  • Not have a history of involvement in unacceptable activities
  • Have functional English
  • Meet the  health requirement
  • Meet the character requirement
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

Cost

This visa costs AUD645 for the main applicant.

There is also a charge for each family member who applies for the visa with you:

  • additional applicant over 18 years old: AUD325
  • additional applicant under 18 years old: AUD165

You must pay an extra charge for any applicant 18 years old or older who has less than functional English unless this charge has already been paid for a previous subclass 188 visa application. This charge is the second instalment which must only be paid when you are asked to do so. You will be refunded the charge if the visa is not granted

The second instalment charges are:

  • main applicant: AUD9,795
  • family members: AUD4,890

You might also have to pay other costs for health checks, police certificates and biometrics.