Business Innovation stream 188A

  Overview

The Business Innovation stream 188A is a five-year visa for entrepreneurs who have a business background and intend to start and manage a business in Australia. This visa application only needs to audit the company’s turnover, the investment amount is not high, and the investment business form is more flexible. Applicants holding a visa to conduct business in Australia, and after meeting certain conditions, can transfer to a permanent residence visa.

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Eligibility

  • Be under 55 years old
  • You must score at least 65 points on the points test
  • You must have a successful business career and a genuine desire to continuously own and manage a business in Australia (Relevant documents must be presented, including turnover and business ownership)
  • Whether you have 1 or 2 businesses, you must own at least:
    • 30%, of the total value of the business  if the business is not a listed company
    • 10%, of the total value of the business if the business is listed company
  • 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 AUD 750,000 turnover in each of those 2 years
  • You, your partner, or you and your partner combined must have total net business and personal assets of at least AUD 1,250,000. Your funds must be available to transfer to Australia within 2 years of us granting the visa

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Stay

Up to 5 years (provisional visa)

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Processing Time 

Approximately 6 – 9 Months

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After obtaining the 188A visa, the applicant needs to meet all the following conditions to apply for the 888A permanent residence visa :

  • Maintain substantial ownership interest in a business in Australia
  • Participate in the day-to-day management and decision-making of that business
  • Have lived in Australia for at least one year within the first two years of applying for permanent residence
  • Within 12 months before applying for permanent residence, the applicant (and his / her spouse) must have an annual business turnover of at least AUD 300,000 (accumulated by up to 2 companies)

Also at least two of the following conditions to apply for the 888A permanent residence visa:

  • Invest in Australia at least AUD 200,000 in its corporate business operations (up to 2 companies accumulated) (depending on the requirements of individual states)
  • Have at least AUD 600,000 in business and personal net assets in Australia (depending on the requirements of individual states)
  • Employ at least 2 full-time employees legally working in Australia (depending on the requirements of individual states)
    • Including Australian citizens, Australian permanent residence visa and New Zealand passport holders
    • Cannot be dependents of the applicant (and his spouse)

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