888C Visa: Australian Permanent Residence for Significant Investors

Key differences

• The 188C/888C pathway has no age limit, no points test, and a flexible residence requirement (40 days per year). Processing times vary by case and with current policy. The trade-off is a higher investment amount than for the 188A or 188B.

Main risks

• Investments made through funds are at risk: their value can fluctuate with fund performance.
• Application risk comes from choosing a fund that does not meet the required standard, source-of-funds evidence that is not robust enough, or an inexperienced advisor.
• IMM Group conducts thorough due diligence before any contract is signed, to help reduce these risks.

Impact of fund losses

• Yes. If the investment falls in value because of fund performance (rather than a withdrawal of capital), you still qualify for the 888C, provided you maintained the investment for the required period and did not withdraw capital early.

The investment remains at risk.

Source of funds

• You must demonstrate a lawful, legitimate source of funds, similar to the requirements in the United States and Canada.
• Eligible assets include real estate, business assets, savings, and company shares or listed stock, held in the name of the main applicant and/or their spouse.
• The path of funds must be clearly explained and documented.

Withdrawing capital

• You can, once you have held the investment for the required period and lodged your 888C application. Time any withdrawal with your advisor's guidance so that it does not affect your application.

English

• No. However, applicants aged 18 and over who cannot show functional English must pay a second instalment of the visa application charge, so good English helps you avoid this charge; it can also count toward points. The amount follows the Department of Home Affairs fee schedule in effect at the time you apply.

Education

• Generally, yes. From the time you hold the 188 visa, your children can attend public school, from primary through secondary school, under the policy for permanent residents and eligible visa holders; specific conditions vary by state.

Medicare

• During the 188 (provisional) stage, you are not eligible for Medicare and need private health insurance. Once you hold the 888C (PR), you become eligible for Medicare.

Dependents

• Dependent children under 23 can be included in the application; age is determined at the time the 188 visa is granted. Check your children's ages early so that no one ages out.

Australian citizenship

• Citizenship requirements are separate from PR: about 4 years of lawful residence in Australia, including at least 1 year as a permanent resident; no more than 90 days of absence in the final year; passing the citizenship test; good character; and meeting the language requirement.

How applications are assessed

• There is no "connections" route to priority processing or relaxed criteria — that would be contrary to Australian law. Applications are assessed on facts and evidence.