The 188 Australian visa is a temporary residence visa that the Australian government hopes that foreign investors will invest in Australian businesses to promote Australia’s economic prosperity, which is valid for up to 4 years. There’re 5 categories of 188 visa: 188A business innovation (provisional) visa, 188B investor (provisional) visa, 188C significant investor (provisional) visa, 188D premium investor (provisional) visa and 188E entrepreneur (provision) visa. Australia 188 visa is the first step to obtain Australia’s 888 business innovation and investment permanent residence visa.
Australia’s business innovation stream 188A:
188A business innovation visa category is belong to Australia’s business immigrant (business innovation and investment visa), usually also known as Australian entrepreneurs immigration. It is equivalent to the 163, 164, and other immigrant visas that many people are familiar with. The application of this visa is relatively loose on the audit requirements and pays attention to the turnover of the company. The demand for the amount of investment is not high, and the way of investment can be flexible.
Australia’s business innovation 188A policy:
The business innovation stream 188A visa is one of Australia’s business immigration 5 categories, mainly for small and medium-sized owners and shareholders. The Australian investment immigrant 188A visa is a 4-year temporary visa and a first step in obtaining a 888 permanent residence visa for Australian business innovation and investment. After applicant receives visa, he/she can start and operate a business in Australia. The applicant’s spouse and children under 23 of age can migrate to Australia together.
Suitable for: Small-medium sized business owners
Investment requirement: 200,000 AUD
Business experience: Minimum at 2years
Education background: No requirement
Company shareholder: Required
Language skills: No requirement
Immigrant score: Required
Process period: 12-15months
188A Application requirement:
- Under 55 of age (main applicant)
- The successful experience of the applicant which directly involved in the management of the enterprise.
- Family net assets reach to 800,000AUD
- Have at least 30% of shareholder and company’s annual turn over is no less than 500,000AUD which can be used up to 2 companies in case of business’s turn over is less than 500,000AUD. if company’s annual turnover is less than 400,000AUD, must hold 51% of shareholder and hold 30% of shareholder if exceed 400,000AUD.
- Receive “application for intention” invitation (EOI)
188A Project advantage:
Short process period : Immigration procedures usually take a long time, some countries even need a few years, but Australia needs less time to apply for them. Some visa processing time is about 6-9 months.
No Education and language skills requirements : There’s no any requirement for the applicant’s education background and language skills, just only need to correspond with investment requirements.
Flexible investment and low amount : Only need to invest for 200,000AUD and there’s no industrial limit.
Australian visa holder is free to go in and out of more than 100 countries. : After the successful application of the investment immigration application, holding an Australian visa can go in and out of more than 100 countries, both tourism and commercial activities.
One applicant, whole family immigrate : Applicant’s spouse and unmarried children are capable to immigrate to Australia with the main applicant, free education for middle school student.
- Preliminary assessment.
- Sign contract& agreement.
- Submit EOI
- Apply for federal guarantee
- Receive an invitation from immigration
- Financial examine & investigation
- Apply for an immigration
- Physical examination and conduct investigation.
- 188A visa approval
- Landing to Australia, establish business and manage for 2years
- Receive PR
BUSINESS INNOVATION AND INVESTMENT (PERMANENT) VISA 888:
Australia 888 visa is what you can apply in Australia after 2years holding business innovation and investment (provisional), 188 visa and corresponding to a certain requirement, to receive a visa of permanent resident. The applicant must be guaranteed by Australian government or Australian trade commission on behalf of Australian government first before they apply for the visa.
Australia 888 visa benefit and advantage point:
(-) No valid period of residence and free to return to Australia anytime.
(-) Can live and work in any province in Australia.
(-) Can attend a medical healthcare in Australia.
(-) Can apply for Australian citizenship after correspond to a certain requirements.
(-) Applicant’s spouse can have a full-time job in Australia and eligible children can receive Australian education.
(-) Can guarantee the eligible relative for becoming a permanent residence.
Australia’s 888visa application requirement:
- The year before the application for permanent residence, the business annual turnover is not less than 300,000AUD.
- Have 2years of Australian tax record.
- 2years before the application for permanent resident, applicant must reside in Australia at least 1year.
- At least satisfied 2/3 of these requirements:
- The year before the application for permanent residence, one or two business net assets not less than 200,000AUD.
- The year before the application for permanent residence, one or two business including personal net assets not less than 600,000AUD.
- The year before the application for permanent residence, employ at least 2 full-time worker from local place.
Addition requirement for change 188 to 888 visa:
- Applicant must be able to prove that he/she meet a certain financial requirements during operating business.
- 2years before application, applicant must has main business in Australia with owner’s right including right to direct management.
- Within 1year before application, applicant must satisfy at least 1/3 business owner requirement:
- For company that business’s annual turnover less than 400,000AUD, must hold at least 51% of shareholder.
- For company that business’s annual turnover has exceeded 400,000AUD, must hold at least 30% of shareholder.
- For market listed company, must hold at least 10% of shareholder.
- Business code is required for each main business.
- Submit report of business activity to the Australian tax bureau 2years before application.
- The ownership of the main business is not transferred by the applicants or holders of the 888, 890, 891, 892, 893 visas, unless the applicant and the transferor jointly hold the main business for at least one year before the application.