BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) VISA

STREAMS OF VISA 188

01

Business Innovation Stream

Subclass 188A

This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.

General requirements

Under 55 years of age. If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit.
Score at least 65 on the points test (check scores test).
For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD500,000 turnover in each of those 2 years.
Whether you have 1 or 2 businesses, you must own at least:
1. ✓ 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year
2. ✓ 30%, of the total value of the business if the business has a turnover of AUD400,000 or more per year, or
3. ✓ 10%, of the total value of the business if the business is operated by a publicly listed company
You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800,000.
Invest AUD200,000-500,000 into businesses, depend on chosen state.
You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

Eligibility for permanent visa

To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, 188A holder must:

Spend at least 12 months within 2 years of the visa being granted in the nominating State or Territory.
You must have a genuine and realistic commitment to:
1. ✓ maintain a direct and continuous involvement in the day to day management of the eligible business
2. ✓ maintain a substantial ownership interest in your business or investment
For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had a business that had at least AUD300,000 turnover.
Be qualified for some requirements about properties and labor hire in Australia.

02

Investor Stream

Subclass 188B

This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.

General requirements

Under 55 years of age. If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit.
Score at least 65 on the points test (check scores test).
You must have at least 3 years' experience managing one or more qualifying businesses or eligible investments.
You, your partner, or you and your partner together, must:
1. ✓ For at least 1 of the 5 fiscal years immediately before we invite you to apply, have directly managed one of the following:
  1. ✓ a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
  2. ✓ a eligible investment of at least AUD1.5 million owned by you, your partner or you and your partner combined.
2. ✓ For the 2 fiscal years immediately before we invite you to apply, you, your partner, or you and your partner together, have business and personal assets with a net value of at least AUD2.25 million. These assets must have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted.
3. ✓ After you lodge your application, you must make a designated investment of at least AUD1.5 million in the State or Territory in which the nominating State or Territory government agency is located and be hold the investment for 4 years.

Eligibility for permanent visa

To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, 188B holder must spend at least 2 years in Australia within 2 years of the visa being granted and hold the designated investment for at least 4 years from the date the investment certificate is issued by your nominating State or Territory.

03

Entrepreneur stream

Subclass 188E

This provisional visa lets you carry out entrepreneurial activities in Australia

General requirements

Under 55 years of age. If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit
You must have an IELTS result of at least 6 for each of the 4 components.
You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia. You must have a genuine intention to continue this activity.
This activity must not relate to any of the following categories:
1. ✓ Residential real estate
2. ✓ Labor hire
3. ✓ Purchase of an existing enterprise or a franchise in Australia.
You must have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000. The funding must be from one of the entitled entities
At least 10% of the funding must be payable to the entrepreneurial entity within 12 months of the activity starting in Australia. This must be in the agreement.
You must have held at least 30% interest in your entrepreneurial entity when you entered into the agreement.
You must also have a business plan for the entrepreneurial entity. This business plan should note how your innovative idea will lead to the commercialization of a product or service in Australia, or the development of an enterprise or business in Australia.
You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

Eligibility for permanent visa

To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, 188E holder must hold this visa for at least 4 consecutive years and spend at least 2 years in Australia before visa submission. In addition, you must be able to provide evidence of your entrepreneurial activities’ success.

6 EXCLUSIVES
OF AN AUSTRALIAN PERMANENT RESIDENT

Permanent residents in Australia enjoy many economic, cultural and educational perks, making Australia one of the most ideal destinations for many successful entrepreneurs and investors in the world

1

CIVIL RIGHTS

Permanent residents who meet the Australian government's requirements can apply for citizenship and enjoy the full rights of Australian citizens in education, health and social security, especially the right to vote and use land.

2

FREEDOM OF MOVEMENT

Permanent residents in Australia can freely enter and leave Australia without obtaining a visa for entry. In addition, with an Australian passport in hand, you are free to travel to 171 other countries without a visa, saving you a lot of time and money.

3

HEALTH CARE

Your family will be entitled to Australian Health Care System (Medicare) benefits such as: free health care in public hospital system with the most advanced medical service, price support for medicine and other incentives.

4

SOCIAL WELFARES

Your children will receive free education in public schools from elementary to high school. College tuition is supported similar to locals. In addition, when you become a permanent resident, you are prioritized when borrowing money to continue their studies at higher levels.

5

BUSINESS INVESTMENT RIGHTS

You are allowed to establish or develop an existing business in Australia, or to invest under the visa’s requirements.

6

OFFERS ON TAX AND PROPERTY

Permanent residents in the state of New South Wales are exempt from home taxes with real estate valued at less than AUD 7,000. In particular, Australian residents are not limited to the right to purchase real estate in residential areas, enjoy many incentives for personal loans, home loans, car purchases...

The process of preparing and completing Australian immigration visa procedures is often very complicated and requires certain specialized legal knowledge in legal, investment and immigration. Enter your contact information and concerns below and Verity Law will respond as soon as possible in the next 24 hours.

STREAMS OF VISA 188

6 EXCLUSIVES OF AN AUSTRALIAN PERMANENT RESIDENT

CIVIL RIGHTS

FREEDOM OF MOVEMENT

HEALTH CARE

SOCIAL WELFARES

BUSINESS INVESTMENT RIGHTS

OFFERS ON TAX AND PROPERTY

6 EXCLUSIVES
OF AN AUSTRALIAN PERMANENT RESIDENT