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Australia Provincial Subclass 188 (Business & Investors)
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- Provisional Subclass 188 – Business Innovation and Investment
Business Innovation and Investment
The Business Innovation and Investment (Provisional) subclass 188 visa is an ideal choice for successful and high-calibre business owners who want to set up or manage a business in Australia. This is a 4-year temporary visa that allows entrepreneurs and investors to invest in an Australian state or territory. Once the business ownership is completely established in an Australian business, the applicant becomes eligible to apply for permanent residence status via the Business Innovation & Investment (Residence) Subclass 888 visa. You must be nominated by a state or territory government to get this visa.
The subclass 188 has three streams
Business Innovation stream:
for entrepreneurs who want to establish or develop, own and manage a new or existing business in Australia.
Investor stream:
for investors who are able to invest a minimum of $1.5 million into a State or Government bond for 4 years, and have net business and personal assets of $2.25 million.
Significant Investor stream:
for business owners with net assets of at least $5m and are willing to invest at least $5m in complying investments over the period four years.
Benefits Of Subclass 188
- Conduct entrepreneur or investment activity in Australia.
- Live in Australia for 4-years initially and then permanently after meeting certain eligibility requirements.
- Do a job and enrol for an educational program
- Bring eligible family members to Australia
- Travel in and out of Australia till your visa is valid
- Enrol for free Medicare and other social care benefits
Basic Eligibility Requirements
In order to apply for subclass 188 visa, you must be:
- Under 55 years of age at the time of apply
- Able to score at least 65 on the points test system
- Be nominated by an Australian state or a territory government
- Lodge an Expression of Interest and be invited for the visa
- Able to submit proof of your business success (annual turnover, ownership stake)
- Meet health and character requirements
- You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800, 000.
Must have a genuine commitment to be involved as an owner of a new or existing business in Australia.
Subclass 188 Visa-Application Process
- Review the eligibility criteria, visa conditions, and document checklist
- For the state nomination, submit an Expression of Interest (EOI) through SkillSelect. Make sure to include all information in your EOI.
- The state authorities will assess your application, if you are qualified you’ll receive an invitation to apply.
- When you receive invitation, provide all necessary documents along with an application fee. You will be given 60 days to lodge your application with the Department of Home Affairs.
- The authorities will evaluate your application and may even request to additional information.
Subclass 188 Visa- Cost And Processing Time
The processing time of your application depends on various factors, such as whether you have submitted all necessary documents or how timely you respond to the DHA requirements. But, in most common cases- an application under subclass 188 Business Innovation Stream takes around 15 to 22 months, and applicants under Investor Stream might have to wait around 18 to 20 months to know their application result.
Cost
This visa costs AUD5, 375 for the primary applicant.
There are also additional charge for each family member included in the application:
Applicant over 18 years old: AUD2, 685
Applicant under 18 years old: AUD1, 345
Abhinav: India’s Most qualified Immigration Consultant for Entrepreneurs, Investors and HNI’s
- Only Immigration specialist having an expert team and experience in dealing with business and investor applications for almost 2 decades. This is highly demanding, high risk category of Immigration.
- Profile Assessment to identify the right country and program, viz. Residency by Investment or Citizenship by investment or Entrepreneur programs.
- Special advice for dependent/non-dependent children and parents.
- Special advice for clients having limitations of staying outside India for long.
- Documentation Guidance critical to acceptance including all important area of source and path of funds, business and personal net worth.
- Professional Business Plan Drafting.
- Market Research vis-à-vis Business for Sales listings and Start-up ideas.
- Online IELTS Coaching.
- Overseas Company Incorporation.
- Taxation planning and advice.
- Planning and coordinating Exploratory Visits with active assistance from Local associates.
- Start-up Guidance and coordination vis-à-vis Incubators, Angel Investors and Venture Capitalists.
- Application Process through licensed Immigration consultants/Attorneys.
- Turnkey services
- Concierge services for Premium clients
To know more about the Business Visa Australia, you can write us on [email protected] and our expert team of experts will get in touch with you to resolve your queries. You can even give us a ring on (+91) 859 533 8595 or directly interact with our expert Visa Consultants through our Live Chat window.
