Who is Business Innovation and Investment 188A visa suitable for?
Business Innovation and Investment 188A visa is suitable for applicants who are experienced business owners with experience in managing their businesses. To be eligible for Business Innovation and Investment permanent visa 888A, the 188A visa holder must use their business experiences and start-up or purchase an existing business in Australia and manage the business operations. You can check the eligibility requirement of the Business Innovation and Investment 188A visa below.
There are a few key benefits of a 188A Business Innovation and Investment visa. It has low asset requirement of AUD800,000, compared to AUD2,250,000 for 188B. Your business annual turnover requirement is low of AUD500,000 compared to AUD3,000,000 for 132 visa. Also, you maybe eligible for 888A visa after only 1 year compared to 4 years and 3 months for 188B or 188C.
Owns one or more established main businesses with at least AUD500,000 annual turnover for at least 2 of last 4 fiscal years
Has at least AUD800,000 business and personal assets
Genuine intention to do business in Australia
188A Main Conditions
For offshore applicants, first entry must be made before the date specified by the Minister
Main Eligibility to Permanent Resident Visa
Be in Australia for at least 1 year in the 2 years immediately before applying for Subclass 888 visa
Own and manage a business in Australia for 2 years immediately before applying
Meet the ownership interest requirement for 2 years immediately before applying
51% of the total value of a business with a turnover of less than AUD400,000 per year, or
30% of the total value of a business with a turnover of AUD400,000 or more per year, or
10% of the total value of a business that is operated by a publicly listed company
Your business had an annual turnover of at least AUD300,000 in the 12 months immediately before applying
In the 12 months immediately before applying, meet 2 of the 3 requirements below:
Have assets of AUD200,000 net value in your business
Have personal and business assets of AUD600,000 in net value
Employ at least 2 full-time eligible employees
Did you know for 188A?
For 188A Business Innovation visa, you are required to operate a business in Australia with at least AUD300,000 annual turnover to be eligible for Subclass 888 permanent resident visa
You may be required to employ at least 2 Australian Citizen or Permanent Resident full-time to be eligible for Subclass 888 permanent resident visa
188A Business Innovation Additional Information
Up to 4 years and 3 months with pathway to Business Innovation and Investment (Permanent) visa subclass 888 which is a permanent visa
AUD5,375 for primary applicant AUD2,685 for additional applicant over 18 years AUD1,345 for additional applicant under 18 years
If applicant does not have at least Functional English, they are required to pay the second instalment charge as follows: AUD9,795 for primary applicant AUD4,890 for secondary applicant over 18
75% of applications: 31 months
90% of applications: 33 months
You and your family members may be required to take a health examinations to meet the health requirement to show that you are free from any disease or condition that is:
a significant healthcare and community service cost to the Australian community
likely to limit the access of Australian citizens and permanent residents to healthcare and community services that are in short supply by placing demand on those services.
Your health examination will include the standard medical examination. Additional tests (such as TB Screen test, chest x-ray, and HIV test) will be required by different age groups. In some circumstances, you may be required to take additional tests such as: hepatitis B and C test, syphilis test, HIV test, and tests that address your specific health risks.
You must be of good character and pass the character test. There are a number of circumstances where you may not pass the character test. For example, if you have a substantial criminal record. A substantial criminal record means if you have been:
sentenced to death or imprisonment for life
sentenced to a term of imprisonment of 12 months or more
sentenced to two or more terms of imprisonment (even if served concurrently) where the total is 12 months or more
found by a court to not be fit to plead in relation to an offence but found to have committed the offence and detained in a facility or institution
You may be required to obtain one or more documents to prove your character, such as: a police certificate, Form 80, character statutory declaration, military certificate, or a letter of good conduct from an employer.
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