Subclass 188D:
Premium Investor Visa

This stream offers an avenue to permanent residency for individuals who can make complying premium investment. This involves a minimum sum of $15,000,000 in Australia for the duration of the visa period.

Despite the higher investment threshold, the Premium Investor stream presents clear advantages when compared to the business innovation (188A), investor (188B) and significant investor (188C) streams. These include:
  • No age threshold – same as 188C;
  • No Schedule 7A points test – same as 188C;
  • Preferential processing – same as 188C;
  • No residence requirement;
  • No requirement to establish successful business or investment management records;
  • Shorter provisional time of 12 months to be eligible to apply for Subclass 888.
  • Primary Criteria

    To qualify under this stream, a primary applicant must satisfy all of the following:
  • Applicant was invited in writing, by the Minister, to apply for the visa;
  • Applicant has made, on or after the time of application, a complying premium investment of at least $15,000,000; and
  • Applicant genuinely intends to hold the investment for the whole of the visa period.
  • Invitation

    The Minister delegates the power to Austrade to receive and accept expressions of interest in this stream and to issue invitations if they are satisfied.

    Complying Premium Investment

    Investment may be made through a managed investment fund or by direct investment. Additionally, the investment may only be made in one of the following:
  • Securities quoted on an Australian securities exchange;
  • Bonds and notes issued by any of the following;
  • Company quoted on an Australian stock exchange;
  • Wholly-owned subsidiary of a company quoted on an Australian stock exchange;
  • Any company, if bonds or notes are rated investment grade by a credit rating agency holding an Australian financial services licence;
  • Commonwealth, State, Territory or local government;
  • Proprietary limited company incorporated in Australia;
  • Annuities issued by a company registered under section 21 of the Life Insurance Act 1995, if the annuity does not repay capital during the visa period;
  • Real property (via managed fund only and subject to significant limitations);
  • Cash held by Australian authorised deposit‑taking institution (via managed fund only); or
  • Derivatives.
  • Switching Period

  • This refers to a period beginning when the investor withdraws funds from the investment, or cancels the investment, and ending when the investor reinvests the withdrawn funds, or the funds used to make the cancelled investment.
  • If the switching period is of no more than 30 days duration, the investment is taken not to have ceased to be a complying significant investment during the switching period.
  • Failure to reinvest the funds in a compliant matter within the switching period may result in refusal, or cancellation if granted.
  • Application Charges

    Subclass 188 is payable in 2 instalments.

    First instalment:

  • Base application charge: $5,375
  • Additional applicant charge for an applicant who is at least 18: $2,685
  • Additional applicant charge for an applicant who is less than 18: $1,345
  • Second instalment:

  • Primary applicant without functional English: $9,795
  • Secondary applicants who do not demonstrate functional English: $4,890