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188 Visa - Business Innovation and Investment
Outlined below are the eligibility criteria and requirements for applying for High Net Worth Immigration to Australia and acquiring Permanent Residence under the 188 Visa - Business Innovation and Investment streams for Citizens of Hong Kong SAR and PRC China:
Business Innovation Stream - 188A Visa
The 188A - Business Innovation stream for Hong Kong SAR and PRC China Citizens 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 - You must be nominated by an Australian State or Territory government and agree to comply with the State/Territory government's conditions.
2. Age - You should usually be 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 $500,000 AUD turnover in each of those years.
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 $800,000 AUD that are lawfully acquired and available for legal transfer to Australia within 2 years.
6. Business Career - Have an overall successful business history and career. You have no involvement in unacceptable business or investment activities.
7. Business Management Role - Have an intention to continuously own and maintain a management role in an Australian business.
8. Health and Character - You must undergo a heath examination and chest x ray and meet the health requirement. Also, you mus provide police clearance certificates and meet the character requirements.
Investor Stream - 188B Visa
The 188B - Investor stream is meant for Hong Kong SAR and PRC China Citizen 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 - You must usually be under 55 years of age, but this can be waived.
2. Points Test - You must pass the points test, and score at least 65 points.
3. Investment Management Skill - You have a High level of Management skill in relation to the eligible investment activity.
4. Investment Experience - You have 3 years' experience or more of direct involvement in managing 1 or more qualifying businesses or investments.
5. Successful Investments - You 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 - Net business and Personal assets of at least $2.25 million AUD, that are available for transfer to Australia within 2 years.
10. Designated Investment in Australia - Make a designated investment of at least $1.5 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.
Significant Investor Stream - 188C Visa
The purpose of the Significant Investor visa is to contribute to Australia's economy and increase economic stimulus and activity, growth, jobs and investment in different industries, by making a large investment in Australian funds. See the eligibility criteria for Hong Kong SAR and PRC China Citizens below:
Entrepreneur Stream - 188E Visa
The Entrepreneur visa is a new addition to the 188 stream of visas and is available for Hong Kong SAR and PRC China Citizen applicants under 55 years of age, nominated by a State/Territory government, who have a funding agreement from a third party. See the eligibility criteria below:
1. Residential real estate
2. Labour hire
3. Purchase of an existing enterprise or a franchise in Australia
Business Talent - 132 Visa
The Business Talent 132 visa is a permanent residence visa, which allows Hong Kong SAR and PRC China Citizens to establish a new business or develop an existing business in Australia, provided that your are Nominated by an Australian State/Territory government. This visa has 2 streams:
1. Significant Business History Stream - You are under 55 years of age, and you meet the following requirements:
2. Venture Capital Entrepreneur Stream - You must have received at least $1 million AUD in funding from an Australian venture capital firm, which is a Member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). The funding must be for the start-up, product commercialisation or business development of a promising high-value business idea.