188 Business Visas: Innovation and Investment
AIS Immigration Solutions are a Brisbane-based Australian firm that guides people through the visa application process including 188 business visas. We have a team of qualified and experienced migration agents who understand all of the different types of visas that are available and who can assist you in selecting the best option to suit your circumstances. If you’d like to book a one-on-one Skype meeting with one of our agents, please click here.
188 Visas:
There are five different types of 188 Business Innovation and Investment visas available:
188A visa: For business owners seeking to establish business operations in Australia
188B Business Visa (Investment): For people who are willing to invest $1.5 million in Australian State or Territory bonds
188C Business Visa (Significant Investment): For people willing to invest $5 million into complying investments in Australia
188D Business Visa (Premium Investor Subclass): For people with significant funds who are willing to invest at least $15 million into complying premium investments in Australia
188E Business Visa (Entrepreneur visa): For people who have a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity
There is also the 888 Business Innovation and Investment (Permanent) Visa.
The 188A visa is only available to applicants who are nominated by an Australian state or territory government and who meet the points test for the visa. To be nominated, the applicant must lodge an Expression of Interest (EOI) via the SkillSelect system.
188A Business Visas are a 4-year temporary visa for people who own and manage new or existing businesses in Australia. Once you have established an ownership interest in an Australian business, you can apply for permanent residence through the Business Innovation and Investment (permanent) subclass 888 visa.
A two year extension after 3 years is also available on the 188 Business visa which can extend the full length of the visa to 6 years from the date that the original visa was granted.
You can be either within or outside of Australia are the time of lodging this visa, but if you are in Australia then you must hole a Substantive Visa or a Bridging A, B or C visa.
General 188 Visa Requirements:
To obtain a 188 Business visa you must have ownership of a business with a minimum turnover of AUD 500, 000 for at least two of the last four financial years as well as have net personal and business assets of at least AUD 800, 000.
You will also need to meet the requirements of the Business Innovation and Investment Points test – a ‘pass’ mark is currently 65. Applicants are also required to be under the age of 55 however this can be bypassed if the nominating state or territory certifies that you will make an exceptional economic benefit.
Overall, you need to be able to prove a successful career in business.
Subclass 888 Visa Requirements:
If you wish to apply for permanent residence in Australia via the subclass 888 Business Innovation and Investment visa then you will need to be within Australia on a subclass 188A visa for at least 12 months within the 2 year period prior to lodgement. You’ll also need to have owned and operated an Australian business for at least 2 years prior to applying and the business needs to have had a minimum annual turnover of AUD 300, 000 for two out of the last four financial years.
Your business is also required to employ at least two Australian full-time employees in its Australian operations, and you should have a minimum combined total of AUD 600, 000 worth of net personal and business assets in Australia.
Apply for a 188 Business visa:
Business migration to Australia can be very complex – determining whether you qualify can be difficult and if you qualify for more than one migration category, it can be hard to figure out which option will suit your needs the best. AIS Immigration Solutions have an experienced team of migration agents who are familiar with the different requirements and application process for each variety of visa and who can help you select the best, fastest and most direct route available.
For more information, book a one-on-one Skype meeting today.
Speak to one of our helpful migration agents today on +61 7 3216 0052 or send us an enquiry for help in obtaining your 188 Business visa.
