Australian Business Visas subclass – 188 and Cryptocurrency
To qualify for an investment visa there is Business Innovation and Investment (Provisional) visa – Investor Steam (Subclass-188) things are mentioned below in detail.
Eligibility Criteria for Subclass – 188
- Must be nominated by an Australian State or Territory.
- Manage a qualifying business or having an eligible investment of AUD 1.5 Million.
- Assets of AUD 2.25 million.
- Must make a designated investment of at least AUD 1.5 million in the nominating state or territory.
- Having experience of three years in managing businesses or investments.
- 65 points
- Under 55 years of age.
- Have functional English.
- Meeting the Health and Character requirements.
Cryptocurrency as an eligible investment
Eligible Investment in regulation is 118.112 and 118.113 while eligible investment includes:
- Ownership interest in a business
- Cash on deposit
- Stocks and Bonds
- Real Estate
- Gold and Silver Bullion
- Loans to a Business
Cryptocurrency is not considered an eligible investment by the Department of Home Affairs for Migration Purpose. It is also not considered a personal asset. Before the final processing of the visa applicant must provide evidence of a designated investment of AUD 1.5 million and an explaining letter. It is concluded that funds that are not traced can not be considered in the Business Innovation and Investment Program visas.
For Australian Business Visas, the applicant must meet the regulations we as Immigration Consultants will guide you further. It’s the applicant who will decide to accumulate the funds for the designated investment and would not include the original capital investment.
Funds used to make the designated investment mentioned are
Accumulated from both as having qualifying business conducted by the applicant and secondly eligible investment activities of the applicant.
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