Business Investment, 188 Visa

Business Innovation Stream - 188A Visa

The 188A - Business Innovation stream is meant for experienced business persons who want to establish, develop and manage a new or existing business in Australia. See the eligibility criteria below:

• 1. Nomination - Nominated by an Australian State or Territory government and agree to comply with the State/Territory government's conditions.
• 2. Age - Under 55 years of age, but this can be waived by the State/Territory government where the proposed business will be of exceptional economic benefit.
• 3. Ownership Interest - For 2 of the last 4 years before applying, you had an ownership interest in an established business that had at least $750,000 AUD turnover in each of those years. New Turnover requirement as at 1 July 2021.
• 4. Percentage of Ownership - Own at least one of the following percentages of your nominated business: 51%, if the business has a turnover of less than $400,000 AUD, 30% if the business has a turnover of $400,000 AUD or more or 10% if the business is a publicly listed company.
• 5. Total Net Assets - Have Total Net assets of at least $1.25 million AUD that are lawfully acquired and available for legal transfer to Australia within 2 years. New financial requirement as at 1 July 2021.
• 6. Points Test - Score at least 65 points on the Points test, which includes points for the following factors: Age, English ability, Qualifications, Business experience, Net personal and business assets and Business turnover.
• 7. Business Career - Have an overall successful business history and career. You have no involvement in unacceptable business or investment activities.
• 8. Business Management Role - Have an intention to continuously own and maintain a management role in an Australian business.
• 9. Health and Character - Undergo a heath examination and chest x ray and meet the health requirement. Also, Police clearance certificates must be provided to meet the character requirements.
• 10. Processing Time - As at 1 January 2023, 75% of 188A Applications are processed in 30 months and 90% of 188A Applications are processed in 35 months.

Investor Stream - 188B Visa

The 188B - Investor stream is meant for Investors who are Nominated by a State/Territory government and want to make an investment in an Australian State/Territory, and maintain that investment. See the eligibility criteria below:

• 1. Age - Under 55 years of age, but this can be waived.
• 2. Points Test - Pass the points test, and score at least 65 points.
• 3. Investment Management Skill - High level of Management skill in relation to the eligible investment activity.
• 4. Investment Experience - Have 3 years' experience or more of direct involvement in managing 1 or more qualifying businesses or investments.
• 5. Successful Investments - Have an overall successful record of eligible investment.
• 6. Continue Investment Activity - Genuine and realistic commitment to continue your business and investment activity in Australia.
• 7. Live in Nominating State/Territory - Genuine intention to live for at least 2 years in the state/territory in which you have made the designated investment.
• 8. Investment Ownership - Managed for at least 1 of the 5 fiscal years before applying, an interest owned by you, of at least 10% in a qualifying business or managed at least $1.5 million AUD in eligible investments owned by you.
• 9. Net Assets - Since 1 July 2021, the Applicant must have Net business and Personal assets of at least $2.5 million AUD, that are available for transfer to Australia within 2 years.
• 10. Designated Investment in Australia - Since 1 July 2021, the Applicant must make a complying significant investment of at least $2.5 million AUD in a State or Territory Government security (Treasury bonds) and hold the investment for at least 4 years.
• 11. Health and Character - You must undergo a heath examination and chest x-ray and meet the health requirement. Also, you must provide police clearance certificates and meet the character requirements.

Complying Significant Investments

See below the applicable designated investments for each of the States and Territories of Australia and the Issuing Authority:

• 1. Government Bonds of Victoria Treasury Corporation - Treasury Corporation of Victoria.
• 2. NSW Treasury Bonds Warratah Bonds - New South Wales Treasury Corporation.
• 3. Queensland Bonds - Queensland Treasury Corporation.
• 4. Queensland Industry Bonds - Queensland Industry Development Corporation before 1 December 1996.
• 5. TASCORP Inscribed Stock - Tasmanian Public Finance Corporation.
• 6. Territory Bonds - Northern Territory Treasury Corporation.
• 7. Western Australian State Bonds - Western Australian Treasury Corporation.
• 8. South Australian Government Financing Authority Bonds - South Australian Government Financing Authority.

Points Test - 188 Visa

To be eligible for the 188A, 188B or 188E visas, the Applicant Investor must pass the points test, which requires a score of at least 65 points. See the points test factors below:

Note that additional points are available for registered Patents or Designs, Government body grants, Venture Capital funding or Special Endorsement from a State/Territory Government Agency.

Victoria State Nomination - 188B Investor Visa - 2023

The major changes to the 2021-22 program are as follows:

• Complying investments of $2.5 million AUD (held for the duration of the provisional visa)
• Minimum SkillSelect points score of 80
• No requirement to make any additional investments
• No requirement to invest in Designated Investment Bonds
• All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds

Significant Investor Stream - 188C Visa

See our web page with more information about the 188C SIV Visa eligibility criteria below:

• 188C Visa - Significant Investor Stream

Entrepreneur Stream - 188E Visa

The Entrepreneur visa is available for applicants under 55 years of age. See the eligibility criteria below:

• Expression of Interest - The Applicant must submit an Expression of Interest (EOI). If an Australian State or Territory government agency accepts your EOI and nominates you, the Department of Home Affairs will invite you to apply for this visa.
• State/Territory Nomination - The Applicant must be nominated by a State or Territory government agency before being invited to apply for this visa.
• Funding Agreement - The funding threshold of $200,000 AUD has been cancelled/scrapped from 1 July 2021.
• English Language Ability - Provide evidence that you have at least Competent English ability (IELTS Test Score of at least 6.0 for each of the 4 components).
• Health and Character - Meet the Health and Character requirements.
• Complying Entrepreneur Activity - Undertaking or proposing a Complying Entrepreneur activity (Innovative idea that will lead to commercialization of a product or service in Australia or the development of a business or enterprise in Australia) and have a genuine intention to continue this business activity.
• The Entrepreneur activity must not relate to any of the following excluded categories:

• 1. Residential Real Estate
• 2. Labour hire
• 3. Purchase of an existing enterprise or a franchise in Australia

Eligibility Criteria for 888 Visa - Business Innovation and Investment (Permanent)

After 4 years of maintaining your Investment or Business, an applicant may be eligible to apply for the 888 Visa for Australian Permanent residence, provided they meet the following eligibility criteria:

• 1. Hold the 188 Visa - Primary or Secondary visa holder of a 188 Stream Visa.
• 2. Nomination - The State or Territory Government must confirm that your Nomination is still current.
• 3. 188A Stream - Own and Manage a Business in Australia - For the 2 years before applying for the 888 visa, you must have had and continue to have an ownership interest of a business in Australia, direct management of the business, have an Australian Business Number (ABN) and have submitted Business Activity Statements to the Australian Taxation Office. In addition, you must own 50% of the business if it has a turnover of $400,000 AUD or less per year or own 30% of the business if it has a turnover of $400,000 AUD or more per year.
• 4. 188A Stream - Annual Business Turnover - Your main business must have had an Annual turnover of at least $300,000 AUD, in the 12 months before applying.
• 5. 188A Stream - Meet the Assets and Employees Requirement

For the Assets requirement, you must meet at least 2 of the following requirements:

• Assets of $200,000 AUD net value in your main business in Australia
• Personal and business assets in Australia of $600,000 AUD net value
• 2 full-time eligible employees in your main business

For the Employees requirement, you must prove that your employees are Australian citizens or Permanent residents, and not members of your family.

• 6. 188B Stream - Maintained Designated Investment - The applicants must have held their designated investment of $1.5 million AUD for at least 4 years.
• 7. 188C Stream - Maintained Complying Investment - The applicants must have held their complying investment of $5 million AUD for at least 4 years, and notified the Department of Home Affairs regarding transfers of any investments to another investment.
• 8. Complied with Australian Laws - laws regarding taxation, superannuation and employment relations.
• 9. Functional English - The primary and secondary applicants must prove that they have functional English (IELTS 4.5 for each of the 4 test components).
• 10. Residence requirement - You must have been in Australia for at least 12 months, in the 2 years immediately before applying for the 888 Visa.
• 11. Not been Involved in Unacceptable Business Activities.
• 12. Intend to Continue your Business activities in Australia.
• 13. Meet Health requirement.
• 14. Meet Character requirement.
• 15. No Debts to the Australian Government.
• 16. No Visa Cancellation or Visa Refusal.

Office Address and Telephone - VisaConnect Australia

Contact VisaConnect's Consultants at our Brisbane, Queensland, Australia office below:

VisaConnect - Qld, Australia
Level 1, 16 McDougall Street,
Milton, Brisbane,
Queensland 4064
Australia

Telephone: (+61) 7 3040 9589

188 Business Investor Visa for Hong Kong and PRC China Applicants

Applicants from PRC China and Hong Kong SAR can view our specific web page, in Chinese:

• 188签证 - 商业创新和投资