Let’s have a look if you can start your own business in the “Land of opportunity” Australia.
The 188A visa is only available to Australian State or Territory government-appointed applicants who meet the criteria for this visa. To be nominated, applicants must submit an Expression of Interest (EOI) through SkillSelect.
This is a five-year temporary visa for those who wish to own and operate a new or existing business in Australia. Applicants who have acquired an ownership interest in an Australian business may apply for permanent residency on a Business Innovation and Investment (Residence) visa of subclass 888. After the applicant has held a subclass 188 visa for 3 years, an extension of 2 years is possible. year, 6 years from the original visa issuance date.
|Step 1||Start your Process with FBP|
|Step 2||Lodge your Skill Assessment|
|Step 3||Lodge Expression of Interest through SkillSelect|
|Step 4||Receive ITA (invitation to apply) for the visa|
|Step 5||Lodge Visa application (within 60 days of ITA)|
|Step 6||Receive 188A Visa Grant|
You must meet both the general requirements for a Subclass 188 visa and the specific requirements of the flow you are applying for. The subclass 188 visa allows you to apply in one of four directions:
- Business Innovation Stream: For individuals who want to create, develop and manage a new or existing business in Australia. State or territory government nomination is required.
- Investor Flow: For individuals who wish to invest at least AUD 1.5 million in an Australian State or Territory and wish to support their business and investment activities in Australia. State or territory government nomination is required.
- Substantial Investor Flow: For individuals who wish to invest a minimum of AUD 5 million in a significant Australian equivalent investment and wish to maintain their business and investment activities in Australia. State or territory government nomination is required.
- Premium Investor Stream Program: For individuals who wish to invest a minimum of AUD 15 million in qualifying premium investments in Australia and wish to support their business and investment activities in Australia. State or territory government nomination is required.
- Before applying for a Subclass 188 visa, you must submit an EOI and receive an invitation to apply through SkillSelect. Submitting an EOI allows the government of that state or territory (or the Australian government, if applicable) to review your business application and decide whether to nominate you.
- Once nominated, you must apply for a Subclass 188 visa through Skillselect. You must submit your online visa application within 60 days of receiving the invitation letter.
- Doing a new or existing business in Australia
- bring the right family with you
- Permanent visa application for business innovation and investment (permanent) (subclass 888) in the flow of business innovation
- stay in Australia for up to 5 years
- Owned a business with sales of AUD 750,000 or more in at least 2 of the last 4 fiscal years.
- Under the age of 55, unless the nominating state or territory proves that the applicant will receive exceptional economic benefits.
- Passing Scores on Innovation and Business Investment Tests (currently 65)
- Creating Successful Business Careers in General
You must have been interested in at least one or two of the following companies during the two years of the four fiscal years immediately prior to receiving your application invitation:
- If invited to apply before July 1, 2021, the two-year revenue will be A $ 500,000 each.
- Revenue of A $ 750,000 for each of these two years if invited to apply after 1 July 2021
Whether you have one or two businesses, you must own at least:
- 51% of the company’s total value if the company’s annual sales are less than A $ 400,000 If the annual sales of the business are A $ 400,000 or more, 30% of the total amount of the business, or
- 10% of the company’s total value if the company is run by a public company
- If your business provides professional, technical, or commercial services, you must have spent less than half of your time providing those service.
You and your family included in your application must comply with all visa requirements and Australian laws.
- Trade certificate, diploma, or bachelor’s degree from an Australian institution; or a bachelor’s qualification recognized by an educational institution with an accredited standard.
- Bachelor of Business, Science or Technology from an Australian institution; or a bachelor’s degree in business, science or technology from an accredited standardized educational institution
Benefits of the Business Innovation and Investment (Temporary) Visa (Subclass 188) include:
- Eligibility to start a new business, develop an existing business or invest in Australia
- Unlimited entry and exit from Australia
- Take your family to Australia.
- Ability to apply for Australian citizenship
- Business innovation and investment (permanent) visa (subclass 888) allows you to apply for permanent residency