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Australia Business Immigration
Business Innovation and Investment (Provisional) Visa Subclass 188
Subclass 188 Company Innovation and Investment (Provisional Visa) is a points-based visa for highly qualified businesspeople who want to start a business in Australia or grow an existing one. The visa is divided into two categories:
BUSINESS INVESTOR STREAM
In order to be asked to apply for this visa, the candidate must first submit an expression of interest via the talent choice system and then be nominated by a state or territory.
BASIC REQUIREMENTS
- For starters, you need to be younger than 55.
- Have a points score of 65 or above
- For 2 of the last four fiscal years prior to your invitation to apply, you must have held an ownership stake in an established firm or enterprise with at least AUD 500,000 in turnover.
- For businesses with annual sales of less than AUD 400,000, the minimum share of ownership is 51%.
- 30% if annual revenue is AUD 400,000 or higher
- 10%, if the company is listed on a Public Exchange
- Be passionate about owning and running a successful company in Australia indefinitely.
- You and your partner must each have, or jointly have access to, at least AUD 800,000 in net business and personal assets that were obtained and are ready for legal transfer to Australia within two years of the visa issuance.
Visa Application Fee
Under Subclass-188 Business Innovation Stream (4-Years Provisional) fees cost at AUD 6,270. Moreover, AUD 3,135 will be charged against each additional applicant. If the applicants are below 18 the visa application fee is AUD 1,565 each.
Business Innovation and Investment (Permanent) Visa Subclass 888
The Business Innovation and Investment (Permanent) visa, subclass 888, is a permanent visa for those who qualify, and it is the second phase of the Business Innovation and Investment (Provisional) visa, subclass 188.
This visa allows you to:
- Maintain company ownership and management in Australia (the Business Innovation Stream)
- Maintain financial and commercial ties with Australia
- The conditions for your provisional visa must be met before you may apply for this visa.
- To apply for this visa, you need only show that the nominating government has not withdrawn its support, rather than submitting a fresh Expression of Interest.
BASIC REQUIREMENTS
- Have a valid Business Innovation and Investment visa with a provisional status (subclass 188)
- You must have qualified for the primary visa application stream.
- Nominated by a particular state or territory
- Both you and your partner have a history of adequately following Commonwealth regulations.
- Legal Compliance with the State Where the Business Is Based
- Intend to keep doing business or investing in Australia
BUSINESS INVESTOR STREAM
For the previous two years before your application, you must have had and maintained an ownership stake in, and an active and continuous managerial position within, a primary company or business based in Australia.
Attained a minimum of $300,000 in yearly revenue from your primary business(es) in the preceding year before applying.
You must have had at least the following percentage stake in an Australian company in the calendar year prior to your application:
- Owning 51% of a company with an annual turnover of less than AUD 400,000
- Ownership of 30% in a company with annual revenue of more than AUD 400,000
- Ownership of 30% in a company with annual revenue of more than AUD 400,000 of a Share in a Publicly Traded Company