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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 188C 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.