Subclass 888 · permanent stage
Premium Investor Stream
The fastest of the five streams. Permanent residence after 12 months on your 188 Premium Investor visa, with an AUD 15 million complying premium investment held throughout.
Policy update New subclass 188 applications closed on 31 July 2024. This stream remains open to existing 188 holders, and the settings shown are those the Department publishes for current applicants.
Open to 188 holdersEligibility
Twelve months, fifteen million.
Part or all of the investment can be a philanthropic contribution endorsed by a state or territory government.
Your 188 Premium Investor visa
You are the primary holder of a 188 in the Premium Investor stream, held continuously for at least 12 months when you apply for the permanent visa.
AUD 15 million, held throughout
A complying premium investment of AUD 15 million held for the whole time on your provisional visa, other than any part made as an endorsed philanthropic contribution.
Permitted asset classes
Australian listed assets, government and semi-government bonds, eligible corporate bonds or notes, proprietary companies run for profit, non-residential Australian real property, deferred annuities, and approved philanthropic contributions. Cash is capped at 20% of a fund and derivatives are for risk management only.
Austrade, confirmed current
This stream is nominated by Austrade rather than a state or territory. Austrade confirms your nomination is still current when you apply.
The pathway
Four steps to a decision.
Nomination check
Austrade confirms the nomination is still current.
Investment evidence
The complying premium investment's holding history across your provisional visa.
Lodgement
A decision-ready application, lodged with every requirement addressed.
Decision
We respond to the Department through to its decision. Permanent residence if granted.
General information only, not immigration advice. Your circumstances matter. Visa requirements, fees and processing times change regularly. Facts on this page last reviewed 15 July 2026. Check current details with the Department of Home Affairs , or speak with us for advice on your situation. Website terms.
Begin with a conversation.
Speak with a MARA-registered migration agent in Melbourne about your pathway. Book a time that suits you.