All are similar timewise. It is best if you have all material required so that the application is decision ready.
Which sub stream of Australia’s 188 visa has shortest waiting time?
If I can meet the requirements for all five sub streams of 188 visa, which category is the fastest route for me to enter Australia? Is there a backlog of investors from mainland China in any of these sub streams?
Please note, as of December 2018, NSW has stopped accepting 188 applications. 188 visas in each stream are complex and application time depends on many factors.
The following are the requirements for each stream of the 888 visa category. Business innovation stream (888A) requires you to hold a 188 visa for at least two years and reside in Australia for at least 12 months. The investor stream (888B) requires you to have maintained your investments under the 188 visa for at least four years and to have lived in Australia for at least two years in the last four. The SIV (888C) stream requires you to have held your complying investment for at least four years and has a residency requirement of 160 days (40 days per year) for the main applicant, and 640 days for secondary applicants (160 days per year). The premium investor visa stream (888D) has no residency requirement and an investment period of 12 months before applying for the 888. The entrepreneur stream (888E) requires you to operate your business for at least four years and to have resided in Australia for at least two years during that time period. Overall, the pathway of the 888D is the fastest. There is no backlog of applications like there is for the EB-5 visa in the U.S.
Waiting times can vary according to how well your application has been submitted and whether you have provided enough evidence to warrant a decision-ready case. The significant investor visa (SIV) would probably be the one with the shortest wait time, granted that all information has been submitted and eligibility criteria fulfilled. Most states give priority to its processing due to the investment amount involved and it also does not require of the applicant a wide spectrum of evidence, such as business experience, a proposal for new business, financials, English, education, points, etc. For China, as most applications submitted are for the 188 business innovation stream, it would presumably be the stream most likely to encounter the backlog.