Business Visa subclass 188 – Business innovation and investment

The visa subclass 188 is a provisional or temporary visa for applicants who seek to start a new business or expand an existing one in Australia by making an investment with the Australian territory or state government of a certain or designated sum of money. For more information about Canada’s business investment visa, click here.

Three subcategories of the business and innovation visa include: -

For those who aspire to own or manage a brand-new or pre-existing company entity, there is the Business Innovation track. The Investor stream is primarily intended for those who wish to invest a specific sum of money in any Australian state or territory and continue to support the nation's economic activities after the initial investment has matured.

The Significant Investor stream is for those who desire to contribute at least 5 million AUD to meet Australia's investment requirements once the initial investment has matured. A stream in between The Significant Investor streams is the Significant Investor Visa stream.

The innovation point requirement is not necessary for this visa. The applicant for this visa stream must hold a Business Innovation and Investment (Provisional) (Subclass 188) visa for at least 160 days out of every four years. Canada’s investment program is yet another option for business expansion.

Investments Required for This Visa: -

- Bonds issued by the federal, state, or territory governments

- Infrastructure projects in Australia are the focus of managed funds regulated by the Australian Securities and Investment Commission (ASIC).

- Australian deposit-taking institutions' cash

- government-issued bonds from the Commonwealth, a State, or a Territory

- Bonds, equity, hybrid securities, or other types of corporate debt issued by businesses and trusts listed on an Australian stock exchange

- Issued by Australian financial institutions are bonds or term deposits.

- Australian real estate and Australian agricultural businesses

Direct investments into Australian proprietary companies must satisfy the following requirements in order to be deemed compliant investments: -

- The organization must actually run an eligible business in Australia.

- The applicant must acquire a stake in the business.

- The business must be ASIC-registered; and

- An Australian Business Number is necessary for the company.

The aforementioned investment alternatives are all acceptable to applicants, and they are free to switch between them.

The following people must make and hold the investment:

- Whether the person is applying alone or with their spouse or cohabitant.

- a business in which the applicant alone, along with their spouse or legal partner, owns the majority of the shares.

- Trust where the list of trustees or beneficiaries includes either the applicant alone or the applicant and their spouse or de facto partners jointly.

Requisites: -

These visas are invitation-only, so in order to be considered, the applicant must:

- be younger than 55 years old.

- Post a statement of interest (EOI)

- should adhere to the character and fitness requirements.

- government of a state or territory.

- have a great track record in investing and business

Business innovation

- score 65 points or more on the point test.

- Before being invited to apply, you must have combined annual revenue of AUD 500 000 from one or more businesses in two out of four years.

- possess at least one of the percentages listed below:

- percent of a company with annual sales of less than $400 000 AUD

- percent of a company with annual revenue of more than $400 000 AUD

- percent of a corporation with a public listing

- had worked in a job where providing professional, trade, or technical services accounted for less than half of the time.

- must genuinely want to run or own a business in Australia.

- Within two years of receiving a visa, you and your partner must lawfully own at least 800,000 AUD in assets that can be transferred to Australia.

- Have a prosperous business without a history of unlawful activity.

Visa requirements:

- acquire and keep business ownership in Australia

- As a senior manager, take part in routine business management operations.

- create commercial connections with global marketplaces or

- sustain or create jobs in Australia or

- Import products from Australia or

- Make exportable products or services, or

- introduce updated or new technology, or

- Increase the Australian economy's commercial activity and sectoral competition.

Points for Factor Description

- as of the invitation IELTS score of five in the four skills—speaking, reading, listening, and writing—must be vocational or higher.

- IELTS 7 on each of the four skills—speaking, reading, listening, and writing—requires proficiency or higher.

Qualifications

- Australian trade certificate, diploma, bachelor's degree, or a bachelor's degree that has been recognized by the minister 

- Bachelor's Degree in Business, Science, or Technology that has Ministerial Recognition 

- business background Experience in business of at least four years

- a minimum of seven years in business 

- investment history Experience in investments of at least four years 

- Seven years or more of investment experience

Benefits of the Visa:

- Apply for a Business Innovation and Investment (Permanent) visa to pursue a permanent residency (subclass 888).

- Travel frequently both inside and outside of Australia.

- Bring a member of the family.

- Create a new business, expand a current one, and invest in Australia in a designated and legal manner.

Investor Permit

- be younger than 55 years old.

- score 65 points or more on the point test.

- Prior to being invited to apply, you must have combined annual revenue of AUD 2.5 million from one or more businesses in two out of four years.

- Have a prosperous commercial career without a history of unlawful activity.

- Prior to receiving a direct invitation, be prepared to invest AUD 1.5 million in funds that have been approved by the government and obtained in the last 1.5 years.

- directing eligible investments worth at least 1.5 million AUD.

- Taking charge of an eligible business when the applicant's overall stake represents no less than 10% of the entire worth of the company.

- possess a minimum of three years experience in managing the qualifying business and investment directly.

- possess a sincere desire to continue doing business once the initial investment has reached maturity.

- Within two years of receiving your visa, you and your partner must legally own assets worth at least 2.25 million AUD that can be transferred with ease to Australia.

The benefits of the Visa

- apply for a Business Innovation and Investment (Permanent) visa to gain permanent residency (subclass 888).

- Travel to and from Australia as often as you like

- Bring a member of the family.

- Create a new business, expand a current one, and invest in Australia in a designated and legal manner.

Significant investor visa

The innovation point requirement is not necessary for this visa. The applicant for this visa stream must hold a Business Innovation and Investment (Provisional) (Subclass 188) visa for at least 160 days out of every four years.

Investments Required for This Visa: -

- Bonds issued by the federal, state, or territory governments

- Management funds that are governed by the Australian Securities and Investment Commission (ASIC) and have the mandate to invest in Australia;

- Australian deposit-taking institutions' cash

- government-issued bonds from the Commonwealth, a State, or a Territory

- Bonds, equity, hybrid securities, or other types of corporate debt issued by businesses and trusts listed on an Australian stock exchange

- Issued by Australian financial institutions are bonds or term deposits.

- Australian real estate; and

- Australian agricultural industry

- Direct financial support for an Australian private company

- Direct investments into Australian proprietary companies must satisfy the following requirements in order to be deemed compliant investments: 

- The organization must actually run an eligible business in Australia.

- The applicant must acquire a stake in the business.

- The business must be ASIC-registered; and

- An Australian Business Number is necessary for the company.

The following people must make and hold the investment:

- The applicant either by themselves or with their spouse or cohabitant

- a business in which the applicant, their spouse, or their cohabitant collectively possess 100% of the issued shares

- Trust where the list of trustees or beneficiaries includes either the applicant alone or the applicant and their spouse or de facto partners jointly.

- Agree not to file a commonwealth complaint if an investment made in compliance loses money.

- Within two years of receiving a visa, you and your partner must legally own assets worth at least $5 million AUD that can be transferred with ease to Australia.

Obligation

The applicant must maintain the compliant investment throughout the duration of the visa. They may, however, change between several compliant investments if

- Reinvest Any money you take out of your existing compliant investment and invest in a new one within 15 days.

- The amount that can be withheld must be equal to the amount that was reinvested, without taking into account any profit or loss from the exposure to the financial markets.

The cost of the visa is:

- AUD 8,925 for a Business Innovation and Investment (Provisional) (Subclass 188) visa (Base Application Charge)

- Internet Application Fee Not Applicable

- 18 and over: Additional Applicant Charge $4,465

- 18 and under: Additional Applicant Fee 2,235 Australian dollars

Additional fees include:

- Medical Exam: To be paid directly to the physician doing the exam.

- Police check: Depending on the visa subclass, to the relevant authorities in the countries where you have resided for more than 6 or 12 months.

- Document translation and certification depend on who is certifying the documents and how many copies need to be certified.

At Swis Immigration, we offer you priceless guidance on all of your visa requirements and challenges to make the immigration process enjoyable. We specialize in offering assistance and services to more than 40 nations worldwide.

Canada investment visa and Canada investment program are one of those programs. Our immigration specialists can help you with Australia visas by advising you on document preparation, giving consideration to every small detail specific to your case, and preparing you for the visa interview procedure to ensure a successful end.

Leave a Comment

Your email address will not be published. Required fields are marked *