Canada - Surrey | Winnipeg CA - +17782418054
India - Jalandhar | Malout IN - 9861870000
info@swisimmigration.com
Canada - Surrey | Winnipeg India - Jalandhar | Malout

Business Innovation and Investment Subclass 888 Visa

The subclass 888 Australia business visa is a Business PR Australia visa for Businessmen. Moreover, business migrants who hold subclass 188 visa Australia can apply for the Business Innovation and Investment subclass 888 of Business Immigration Australia and become eligible to apply for Business PR Australia.

Apart from this, Queensland state nomination is required before lodging your application with the Australian Department of Immigration and Border Protection. Thus, the eligibility criteria for Australia business visa is predicated on the subclass 188 visa stream that one originally applied for – the Business innovation stream, Investor stream or Significant investor stream.

Business Innovation and Investment Subclass 888 Visa

The Business Innovation and Investment (Permanent) (subclass 888) Business visa Australia has three streams:

  • 888 Business innovation stream (Permanent): this is often the pathway to business PR Australia for holders of the 188 visa Australia subclass.
  • 888 Business investor stream (Permanent): this is often the pathway to business PR Australia for holders of the 188 visa Australia subclass.
  • 888 Significant investor stream (Permanent): this is often the pathway to business PR Australia for holders of the 188 visa Australia subclass.

Holders of a 444 subclass visa (New Zealand citizens) are exempted from obtaining 188 Business innovation stream (Provisional) Business visa Australia.

Validity

This Australia business visa allows you to live and work permanently in Australia. You can travel in and out of Australia for five years. Furthermore, you may have relatives accompanying you to Australia and you are required to enrol Medicare Australia's scheme for health-related care and expenses.

How it works

This business visa Australia allows you to own and manage a business in Australia (the Business Innovation stream) or continue business and investment activity in Australia (the Investor stream and therefore the Significant Investor stream).

Visa applicants do not have to satisfy the innovation points test and there is no upper age limit. The business visa Australia stream features a residence requirement of 160 days spent in Australia over a period of four years while holding the Business Innovation and Investment (Provisional) Subclass 188 visa Australia.

Australia business visa holders can extend their visa terms if they wish to as long as they satisfy the extension requirements. They can extend their Australia business visa up to two years with a maximum of two extensions.

Eligibility requirements for Business immigration Australia

  • Fulfil the individual requirements of the subclass 188 visa Australia consistent with your selected stream.
  • One has to be the first holder of a provisional Business Innovation and Investment subclass 188 visa Australia.
  • Meet all the requirements of provisional Business Innovation and Investment Australia business visa within the stream during which one initially applies.
  • No involvement in any unacceptable business or investment activities
  • Have a satisfactory record of complying with Australia laws
  • Have been nominated by an Australian state or territory
  • Everyone in relations meets the health and character requirements - you are not required to prove this again if you have already met this requirement for the provisional Business Innovation and Investment visa (subclass 188)
  • Have a commitment to maintaining business or investment activities in Australia.

Business Innovation stream 888 Australia business Visa

Applicants must acquire:

  • Who met requirements for owning and operating a business in Australia while on a provisional visa
  • Should have a business turnover of $300 000 a year
  • Should have two out of three of the following:
  • Business assets required of $200 000
  • Net personal and business assets needed of $600 000
  • Two full-time employees needed
  • Demonstrate a genuine and realistic commitment to continue in business in Australia.
  • Have held the provisional visa in Australia for a minimum of 1 year within the last 2 years
  • You need to provide evidence that you simply have owned your main business or main businesses for two years before you apply. Evidence may include:
  • Documents proving your purchase of the business
  • Partnership agreements
  • Trust agreements
  • Franchise agreements
  • Documents illustrating the difficulty, purchase or transfer of shares
  • Registration with the Australian Securities and Investment Commission
  • Historical ASIC company extract
  • Agreements must include all pages and related schedules and evidence you paid stamp tax.

Provide evidence that you simply have participated in the day-to-day management of the business for two years before you apply.

Investor stream 888 Australia business Visa

For Australia business visa, the applicants must acquire:

  • Continuously held a delegated investment of AUD 1.5 million for four years within the nominating state or territory
  • A genuine and realistic commitment to continue in business or investment in Australia.
  • Have held the provisional visa in Australia for a minimum of 2 years within the past 4 years
  • Provide evidence from the Treasury Corporation that you simply have held your designated investment of AUD1.5 million for 4 years.

If the investment has already matured, the evidence can be:

  • Written or emailed confirmation from the Treasury Corporation
  • Bank statements confirming repayment of the quantity
  • You must be in Australia for a minimum of 2 years within the 4 years immediately before you apply. The two year period in Australia doesn't need to be continuous.

Evidence to prove where you resided can include:

  • Documents illustrating ownership of residential property
  • Rental receipts required showing your name, residential address and therefore the issue date
  • Utility accounts such as electricity, gas, telephone showing your name, residential address and therefore the issue date
  • Dated correspondence addressed to you showing your name and residential address
  • Computer office

Significant Investor stream 888 Australia Business Visa

The applicants of Business immigration Australia must acquire:

  • Continuously held a minimum of AUD 5 million complying investment for a minimum of 4 years
  • Have been in Australian for a cumulative period of 40 days for every year or part-year while holding the provisional visa.
  • A genuine and realistic commitment to continue in business or investment in Australia.

The rules for complying investments changed on 1 July 2015, the evidence you would like to supply depends on once you applied for your provisional Business immigration visa.

If you applied for your Business Innovation and Investment (Provisional) subclass 188 visa Australia after 1 July 2015, evidence of your investment can include:

Recent holding statements for every investment, showing the investor name, amount and commencement date.

If you applied for your Business Innovation and Investment (Provisional) visa before 1 July 2015, evidence of your investment can include:

  • A bond holding statement from the Australian Government or an Australian state or territory government
  • Holding statements for all investments in managed funds

Evidence must cover a period of:

- at least 2 years if your investment within the business was for two years or more, or for the entire period of the investment within the business if it had been for fewer than 2 years

Premium Investor stream 888 Business visa Australia

Applicants are required to provide:

  • A summary of your current business and investment activities in Australia
  • A summary of your Australian business and investment intentions within the long-term
  • Proof that you simply have held complying premium investments of AUD15 million for a minimum of 1 year and therefore the entire time you've got held your Business Innovation and Investment (Provisional) Business visa Australia
  • Recent holding statements for every investment, showing the investor name, amount and commencement date
  • Provide recent holding statements for every investment, showing the investor name, amount and commencement date.

If you invested in an Australian proprietary company, provide:

  • Evidence that the corporate was operating to form a profit through providing goods or services to the general public
  • Evidence that the corporate wasn't operating as a passive or speculative investment, like a landlord of the residential property, gambling, share trading, or holding the property for financial gain
  • A shareholder certificate and a historic company extract from the Australian Securities and Investments Commission
  • Audited accounts, including profit and loss statement, record, and everyone notes to the accounts, for every fiscal year of the investment Your evidence must cover a period of:
  • At least 2 years if your investment within the business was for two years or more, or
  • For the entire period of the investment within the business if it had been for fewer than 2 years

Entrepreneur Stream 888 Business visa Australia

Applicants must continue their entrepreneurial activities and supply a summary of Australian entrepreneur activities. Must have held the 188 visa Australia continuously for 4 years.

Applicants must provide evidence of a successful record of entrepreneurship in Australia. Evidence can include:

  • The number of individuals employed by your businesses during the 12 months before you apply, their citizenship or residency status and relationship to you, if any
  • The annual turnover of your business
  • Any ongoing funding or investment in your entrepreneur activity including:
  • The sale of your business for AUD2 million
  • awards or recognition
  • Successful entrepreneurial activities are assessed by subsequent factors. You'll get to show either:

2 key success factors, or 1 key success factor and three supporting success factors

Key success factors include:

  • Employing 2 or more Australians, permanent residents or other eligible persons
  • Generating an annual turnover of a minimum of AUD 3 million
  • Filing a provisional patent or acquiring a typical or innovation patent
  • Receiving ongoing funding or investment in your entrepreneur activity
  • Entering into a partnership with a university
  • Selling an entrepreneurial venture for AUD 2 million

Supporting success factors of Business Immigration Australia include:

  • Adapting your entrepreneurial activities into other business areas
  • Receiving a press release of success from a state or territory government nominator
  • Receiving sponsorship from the company sector
  • Starting a minimum of 1 other business or contributing to a minimum of 2 other businesses
  • Receiving formal awards or recognition
  • Raising or contributing to social capital

Entrepreneurial activities in Australia can't be:

  • Residential land
  • Labour-hire
  • Buying an existing enterprise or a franchise in Australia

How long to process Business innovation and Investment 888 Business Visa Australia?

The time interval is between 6-12 Months.

We can also write to us your queries at info@swisimmigration.com and thus, we'll revisit you within 24 hours to debate your eligibility and options.

Consultations for prospective immigrants

We are authorized by the Bureau of Immigration (India) License No. 354/MC-1/MA.We have full authorizations to control the process of any kind of Immigration matter. Make an appointment now for more details

Get Consultation