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Australia Subclass 188A
Business Innovation
Australia Subclass 188A
Business Innovation
Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Stream is one of subclass 188 visas, targeting the shareholders of small and medium-sized enterprises. This visa grants its holders the permission to stay in Australia for up to 5 years. Successful applicants should make a minimum investment of AUD 200,000 and operate a business for at least 2 years in Australia. If they manage to meet the business and residency requirements, they can apply for Australian Permanent Residence. Due to its easily-met requirements and low cost, this visa is favored by many SME owners. Children of applicants can enjoy free public education during 188A Temporary Visa.
Time to residency
1.5-2years
Residency requirement
At least 1 year in the state where the applicant is nominated
Visa-free travel
185 countries and regions
Taxation
No inheritance tax
Passport rank
8th in the world
Established time
Program launched in 1981
Investment and Business Requirements:
To obtain an 188A visa, you need to meet the following investment requirements:
1. Personal and family assets under the couple shall not be less than AUD 1.25 million.
2. In two of the past four fiscal years, the annual turnover of the company has not been less than AUD 750,000.
3. In two of the past four fiscal years, the couple have owned no less than 30% of the company, or not less than 10% if it is a listed company.
4. Scoring 65 and higher in SkillSelect Expression of Interest (EOI) System.
Application Requirements
To obtain a 188A temporary visa, you need to fulfill following requirements:
1. The main applicant should be under the age of 55, accompanying children should be unmarried full-time students under the age of 20;
2. The net assets under the couple’s name and that of the family should be no less than AUD 1,250,000;
3. The company’s annual turnover should reach at least AUD 750,000 in at least 2 of the 4 fiscal years prior to the application;
4. The couple should hold at least 30% of company shares (10% if it is a listed company) in at least 2 of the 4 fiscal years
5. A minimum score of 65 in EOI.
Program Benefits
A mature immigration route for over 40 years, clear path towards permanent residence and citizenship.
5-year visa guarantee flexibility for household arrangement after successful application.
Children can enjoy free public education of Australia.
