Victoria State Nomination for 188B-888B Investor Visa
The Victoria Government requires 188B visa holders to make Additional Investments during the period of holding their 188B visa and prior to the 888B visa application.
The minimum “Additional Investment” amount required is AUD 500,000.
The “Additional Investment” must be held for at least 12 months prior to requesting state nomination from Victoria for the 888B visa, i.e. at least within Year 3 of holding your 188B visa.
Options for the Additional Investment – that Victoria has indicated that they will provide state nomination approval to – have included investment into:
♦ Real estate in Victoria:
o As the owner or part-owner of a residential or commercial investment property
o As a lender with security over the property land title, e.g. you lend money to someone who will buy a property with you having a registered security interest on the land title of the property. This is called “Peer-to-Peer Lending”.
♦ A private company:
o As a part-owner with shares
o As a lender with security over the assets of the company and/or the assets of the owner of the company
888B applicants are advised to contact the Victorian State Government business migration team directly to seek confirmation that their “Additional Investment Plan” will be approved when it comes time to apply for State Nomination to Victoria for the 888B visa.
How JADE can help with Additional Investments
What investment you make will depend on your family’s objectives.
In our experience, most people who have applied for the 188B visa did so because they did not want to apply for the 188A visa because they did not want to be involved in the daily management activities of running a small business in Victoria.
Therefore, it is logical that most investors will prefer to invest in real estate, either directly owning the Land Title or by being the lender.
JADE does not provide financial advice and investors should seek their own independent financial advice, if necessary.
Keeping good records of your Additional Investment
It is important to keep good records of your Additional Investment Activity.
The Victoria Government requires you to evidence:
1. You have personally made the investment decisions
2. The investments are based in Victoria and/ or provide economic benefit to Victoria
3. You, or your investment company, are/is the legal owner of the asset and/or financial investment
4. That you have regularly reviewed your investment decision after acquisition
5. If you have sold your investment prior to submitting the 888B state nomination, that you personally provided the instructions to sell the investment
The type of evidence you will need to keep will depend on the type of investment made by you.
For example, if you invest in a residential property and you rent it out to tenants, you will have the following records:
♦ Sale and purchase contract
♦ Settlement advice notice from your conveyancing lawyer
♦ Title deed – if there are no loan borrowings secured against the property
♦ Rental contract or management agent contract
♦ Rental income receipts into your bank account
♦ Minutes of meetings with your investment adviser
JADE can help write up a report of your investment activities that you can use for your state nomination application. This report will help the reader quickly understand how your investment activities meet the “Additional Investment” policy of the Victoria Government.
Please contact JADE to discuss Additional Investments.
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