Business Innovation and Investment Provisional - Subclass 188
Who among you dreams of starting a business in Australia, perhaps even as its owner? Do you simply wish to take over the management of an existing Australian company? You’ve come to the proper location in any situation.
Candidates with a proven track record in business and substantial assets they intend to transfer to Australia may be nominated by an Australian state or territory and granted a subclass 188 provisional visa as part of the business innovation stream of the Australian business migration program. Subclass 888 permanent resident visas are not issued until the applicant has established themselves in Australia and managed an Australian business successfully.
Each state and territory has its own criteria for nominating applicants for subclass 188 and 888 visas.
Subclass 188 visas, like General Skilled Migration visas, require applicants to meet a points test threshold and submit an Expression of Interest through Skill Select. Unlike the General Skilled Migration program, this one guarantees you an invitation to apply if you fulfill the minimum points criteria and have state or territorial sponsorship.
Subclass 188 application process
- Take an English proficiency exam if you must.
- You must submit a subclass 188 nomination application to a state or territory in Australia.
- Submit an Expression of Interest to SkillSelect if your nomination is accepted.
- Get a call saying you’ve been selected to apply.
- To apply, please respond within 60 days of invitation.
Requirements to apply for a visa of subclass 188.
Essential requirements for a subclass 188 business innovation visa are:
- One of Australia’s states or territories has chosen you for this honor.
- Neither you nor your partner/spouse has a record of engaging in commercial or investing activities that would be considered illegal in Australia.
- You are under 55 years old unless the state or territory that nominated you believes that your proposed commercial activity would have a significant economic benefit to that location.
- Passing the minimal score requirement for the Business Innovation and Investment Program is 65 points.
- Your professional life as a whole has been fruitful for you.
- You have been invited to apply because you have spent more time managing the operations of a business than providing services directly to customers for at least two of the four most recent fiscal years before your invitation to apply. That business must have had an annual turnover of at least AU$500,000 in each of those years.
- You and your spouse/partner have liquid assets totaling at least AU$800,000 that can be invested in an Australian company.
- You and your partner can legally transfer your assets to Australia within two years of receiving your visa.
- You intend to engage in business activities in Australia and continue to own and operate a business in that country.
- By usual standards of health and morality.
If your nominating state or territory determines that there are extraordinary circumstances, you may be able to get some of the requirements mentioned above waived.
Common problems for applicants
- It is not possible to get around the residence requirement. Subclass 888 visa applicants who have not spent at least 365 consecutive days in Australia within the preceding two years may be required first to get a subclass 188 visa renewal.
- If you have not met the acceptable level of English within the last three years, you should take an English test as soon as possible after deciding to apply for a visa.
Always check the terms and restrictions of your current visa if you wish to apply from within Australia. If your passport expires without renewal, you may face serious consequences even if you use it for a new one the next day.
You can rely on Gem Services.
Understanding which visa option is appropriate for your situation when migrating to Australia on business is a complex task. When it comes to business visas, our experienced migration advisers are well-versed in the intricacies of selecting the optimal Australian visa for each client.
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From AUD 6,035