188B visa-Business visa (Investment)
Only applicants who are nominated by an Australian State or Territory government and pass the required points test are eligible for the 188A visa. The applicant must submit an Expression of Interest (EOI) via the SkillSelect system in order to be nominated.
For those who want to run a new or existing business in Australia, a 5-year temporary visa is available. The Business Innovation & Investment (Residence) Subclass 888 visa allows applicants to apply for permanent residence once they have proven their ownership interest in an Australian company. After the applicant has held the subclass 188 visa for three years, a 2-year extension is available, giving them six years from the original visa’s issuance date.
For those who want to run a new or existing business in Australia, a 5-year temporary visa is available. The Business Innovation & Investment (Residence) Subclass 888 visa allows applicants to apply for permanent residence once they have proven their ownership interest in an Australian company. After the applicant has held the subclass 188 visa for three years, a 2-year extension is available, giving them six years from the original visa’s issuance date.
If the applicant is in Australia:
Update:
- upcoming business and investment visa changes for immigration to Australia in 2022
- Conditions of States for Business Visas
- 188 visa fees for COVID-19 Concessions for Business Visas (SC188 and SC888).
- What does daily administration for the 888 Business Permanent Visa entail?
- Does the 888 Business Permanent Visa accept franchises?
- Role Swapping 888 Business Permanent Visa
The Business Innovation Stream, or 188A
188 Visa General Conditions
The applicant is under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit; The applicant has had business and personal net assets of at least AUD 2.5 million for the previous two fiscal years;
The applicant is required to make a compliant investment.
Possess three years’ experience overseeing either “eligible investments” or qualifying businesses, and have demonstrated a high level of management skill.
You have one of the following for at least 1 of the 5 fiscal years:
- managed a company where you own 10% or more of the stock, or managed “eligible investments” worth at least AUD $1.5 million.
- Investments that qualify include:
- ownership stakes in a company
- On deposit money
- Bonds or stocks
- actual estate
- Bullion such as gold
Subclass 888 VISA Requirements:
In the four years prior to filing, the applicant has held a subclass 188A VISA for Australia for at least two years.
For the past four years, kept the investment in Australian State or Territory bonds.
Other 188 Visa eligibility streams include: A. Business Innovation, for entrepreneurs looking to set up shop in Australia
- B. Investor – for those willing to put $1.5 million into bonds issued by an Australian State or Territory.
- C. Significant Investor: For investors willing to put $5 million into Australian investments that comply with the law.
- D. Premium Investor: This category is for investors with large sums of money who are prepared to put at least $15 million into Australian premium investments that comply with international standards.
- E. Businessperson –
- for individuals to engage in a compliant entrepreneur activity who have a funding agreement from a third party for at least AUD200 000.