Significant Investor Visa — Subclass 188C
Significant Investor Visa
The Significant Investor stream (subclass 188C) required a minimum AUD 5 million complying investment in Australia. The stream closed to new applications on 31 July 2024. Existing 188C holders retain access to the extension stream and the permanent subclass 888C pathway.
Subclass 188C — program overview
The subclass 188C was a provisional visa for high-net-worth individuals willing to make a significant financial investment in Australia. It did not require business experience, active business management, or an age limit, distinguishing it from the Business Innovation stream. The visa granted temporary residence to the primary applicant, their partner, and dependent family members.
The AUD 5 million complying investment was required to be maintained throughout the provisional visa period in a structured allocation across venture capital funds, managed investment funds investing in emerging companies, and a balancing investment. The allocation requirements for applicants invited after 1 July 2021 differ from earlier cohorts.
Existing 188C holders who have maintained the complying investment for the required period and have met the residency requirements may apply for the permanent subclass 888C visa. Those who need additional time may apply for the extension stream, subject to state or territory support.
Complying investment structure
Venture capital funds — AUD 1 million minimum
At least AUD 1 million of the total investment must be held in one or more eligible venture capital funds. For applicants invited before 1 July 2021, the minimum was AUD 500,000.
Emerging companies funds — AUD 1.5 million minimum
At least AUD 1.5 million must be held in managed investment funds investing in emerging companies listed or to be listed on the Australian Securities Exchange.
Balancing investment — up to AUD 2.5 million
The remaining balance of up to AUD 2.5 million may be held in a broader range of managed investment funds, including listed companies, corporate bonds, annuities, and commercial real estate.
Maintenance obligation
The complying investment must be maintained for the full duration of the subclass 188C visa period. Withdrawals or changes to the investment structure without Department approval may affect eligibility for the subclass 888C.
188C
Provisional subclass
AUD 5M
Minimum complying investment
No age limit
Accessible to all ages
888C
Permanent pathway
Why instruct Visa Plan?
Investment compliance management
The complying investment structure is technical and subject to ongoing obligations. We advise on allocation requirements, rebalancing rules, and the documentation required to evidence compliance for the subclass 888C application.
Legal Professional Privilege
Significant Investor applications require disclosure of substantial financial information. All disclosures to our admitted solicitors are protected by Legal Professional Privilege, which does not apply to registered migration agents.
Residency planning
The 888C residency requirement is calculated based on days in Australia across the full 188C visa period. We advise on the residency formula applicable to the applicant's circumstances and identify any shortfalls before the 888C application is lodged.
Significant Investor Visa information is sourced from the Department of Home Affairs and is current as at April 2026. The subclass 188C program closed to new applications on 31 July 2024. Investment requirements, allocation rules, and eligibility criteria are subject to change. This page provides general information only and does not constitute legal advice.