+44 0207 193 2327 (UK)
+61 03 9015 7918 (Australia)
+852 8191 5561 (Hong Kong)
Our Australian Immigration Lawyers and Registered Migration Agents are experienced and ethical. We can assist High Net Worth Individual clients in our Hong Kong office and specialise in providing expert assistance for Hong Kong SAR and PRC China Business and Investor applicants.
In addition, our Australian qualified Lawyers can advise clients worldwide, with a fast and efficient Consultation by telephone or skype where they advise you about:
Contact VisaConnect's Australian Immigration Lawyers and Migration Agents in 2021 for advice and assistance with your 188 Visa - Business Innovation and Investment application for Australian permanent residence!
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 - 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. 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 - 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.
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 - 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 - 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.
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.
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:
|55 and older||0|
|English Language Ability||
Vocational English (IELTS
5.0 for each of the 4 test components)
Proficient English (IELTS
7.0 for each of the 4 test components)
Trade certificate, diploma or bachelor degree by an Australian education institute; or a bachelor qualification recognised by an educational institution of a recognised standard
A Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification in business, science or technology by an educational institution of a recognised standard
|Financial Assets||Net business and Personal Assets for last 2 fiscal years, of Not less than $800,000 AUD||5|
|Net business and Personal Assets for last 2 fiscal years, of Not less than $1.3 million AUD||15|
|Net business and Personal Assets for last 2 fiscal years, of Not less than $1.8 million AUD||25|
|Net business and Personal Assets for last 2 fiscal years, of Not less than $2.25 million AUD||35|
|Business Innovation stream only - Business experience||You have held 1 or more main businesses before you were invited to apply for the visa for: Not less than 4 Years within the last 5 years||10|
|You have held 1 or more main businesses before you were invited to apply for the visa for: Not less than 7 Years within the last 8 years||15|
|Investment stream only - Investment experience||Immediately before applying, the Investor held eligible investments of at least $100,000 AUD for Not less than 4 Years||10|
|Immediately before applying, the Investor held eligible investments of at least $100,000 AUD for Not less than 7 Years||15|
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.
See our web page with more information about the 188C SIV Visa eligibility criteria below:
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:
Funding Agreement - The funding threshold will be scrapped from 1 July 2021.
English Language Ability - provide evidence that you have at least Competent English ability.
Complying Activity - undertaking or proposing a Complying Entrepreneur activity (Innovative idea that will lead to commercialisation) 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
To be a complying Entrepreneur activity, you must have one or more legal agreements to receive funding from entities, such as Commonwealth/State governments or AVCAL Venture capital companies.
The following State's /Territories are open for State Nomination:
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 buiness 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:
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.
Provisional 188 Visa holders (188A, 188B or 188C) who may have been disadvantaged as a consequence of the COVID-19 pandemic will have the following new arrangements, in place.
From 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’, you can also apply for the Subclass 888 visa if you:
'COVID-19 Concession Period' - commences from 1 February 2020 and is an interim arrangement, until the Department of Home Affairs states that it ends.