Subclass 188

Evidencing Ownership and Value of Eligible Investments

The Subclass 188 visa is now closed to new applications. However, understanding how to evidence eligible investments — including business interests, property, managed funds, bullion and SMSFs — remains important for existing applicants.

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Ownership Interest in a Business

If your eligible investment is an ownership interest in a business, the net value of that investment is equivalent to your net assets in the business. This follows the legislative definition of ownership interest under section 134(10).

Loans to a Business

Loans you have made to a business can qualify as eligible investments. The loan must appear on the balance sheet of the business. If the balance sheet does not identify the lender by name, additional supporting documents such as loan agreements should be provided. Only loans appearing on a business balance sheet are acceptable under policy. Non-performing loans accessed through banking reform processes in certain countries can be evidenced through loan documentation.

Cash on Deposit

Cash held in banks and other financial institutions qualifies as an eligible investment if it earns interest. You should provide bank statements as at the end of the relevant fiscal year. If there are multiple accounts, balances should be taken at the end of the fiscal year. Accounts that earn little or no interest after charges — such as basic transaction accounts — should not be included. Hedged funds involving liquid instruments such as currency or interest rate derivatives can be evidenced through transfer documentation.

Stocks and Bonds

Ownership of stocks, bonds, debentures, and warrants may be evidenced through share scripts, bond certificates, or transfer documentation. Market value should be demonstrated using published financial information as at the end of the fiscal year. Warrants — securities giving the right to subscribe for ordinary shares at a fixed future date and price — are treated the same as stock options and can be evidenced through transfer documentation.

Managed Funds

Managed funds that primarily hold stocks and bonds are acceptable as eligible investments, provided you can demonstrate that you made an informed, personal decision about which fund to invest in — rather than simply following the advice of a broker or financial adviser. Applicants who hold most of their eligible investment funds in managed products must still be able to demonstrate a high level of management skill in overseeing their overall portfolio.

Real Estate

Ownership of real estate is evidenced through legally recognised title deeds, with value determined by an independent valuation from a licensed or registered valuer as at the end of the relevant fiscal year. Your personal residential property cannot be included except in very limited circumstances.

Fahad Shamim

Migration & Education Consultant

MARA Registered MARN 2619225

QEAC G12906

As a Migration & Education Consultant, I provide expert guidance on Australian visas and international education, helping clients navigate both with ease.

Phone +61 424 295 050

Email fahad@edvisehub.com

Contact on WhatsApp

Residential Property

Under policy, the family home is considered a personal-use asset and cannot be an eligible investment. However, if your family home is currently rented out to a third party — including a relative — it may qualify as an eligible investment, but only if you also own (not rent) a separate property where you are currently living. Evidence of both ownership of the rented property (via title deeds) and occupancy of your own residence (via utility bills or similar documents) would be needed. Even if it cannot be counted as an eligible investment, the family home may still count as a personal asset toward your total net asset position.

Gold and Silver Bullion

Bullion must be evidenced by purchase receipts from a bank or bullion dealer. Value is established through a current certificate of valuation as at the end of the relevant fiscal year — general market prices published in the media are not sufficient, as they do not account for the quality of the bullion.

Superannuation

Standard superannuation funds are excluded from eligible investment calculations as they are not directly managed by the applicant — even those that allow flexibility in switching between investment types. However, the accessible portion may still count as a personal asset toward your total net asset position.

The exception is a self-managed superannuation fund (SMSF), which can qualify as an eligible investment if you directly manage it yourself. You must provide the trust deed, evidence of direct management, and details of the fund's setup.