The Business Innovation Stream:

General 188 Visa Requirements:

• Ownership of a business with a turnover of at least AUD 750,000 for at least 2 of the last 4 fiscal years.

• Net personal and business assets of at least AUD 1,250,000.

• Applicants should be under 55 years of age, unless the nominating state or territory certifies that the applicant will provide an exceptional economic benefit.

• Meet the pass mark in the Business innovation and investment Points test (currently 65 points).

• Have an overall successful career in business.

Pathway to PR via 888 Visa:

• The applicant must have been in Australia on subclass 188A visa for at least 12 months, within the 2 years prior to lodgement.

• Owned and operated a business in Australia for at least 2 years prior to the application with an annual turnover of at least $300,000 for 2 of the last 4 years.

• The applicant and/or their partner must meet two of the following three criteria for the 12 months:

  1.Assets of at least 200,000.

  2.Net personal and business assets of at least $600,000 in Australia.

  3.Employed at least two Australian full-time employees in the business in Australia.

Investor Stream:

Financial Requirements:

• The applicant must have had business and personal net assets of at least AUD 2.5 million for the last 2 fiscal years.

• For at least 1 of the 5 fiscal years, the applicant must have:

• Managed a business in which they hold a 10% shareholding; or

• Managed “eligible investments” of at least AUD 1.5 million.

Age Limit:

• The applicant should be under 55 years of age. However, exceptions can be made if the nominating state or territory certifies that the applicant will provide an exceptional economic benefit.

Investment Requirements:

• The applicant must make a complying investment.

• Eligible investments can include:

  1.Ownership interests in a business.

  2.Cash on deposit.

  3.Stocks or bonds.

  4.Real estate.

  5.Gold or bullion.

  6.Loan to a business.

Experience and Management Skills:

• The applicant must have 3 years of experience in managing a qualifying business or “eligible investments”.

• The applicant should demonstrate a high level of management skill.

Pathway to PR via 888 Visa under Investor Stream:

• The applicant must have been in Australia on a subclass 188A Visa for at least 2 years within the 4 years immediately preceding the lodgement of the new visa application.

• The applicant must have maintained their investment in Australian State or Territory bonds for the last 4 years.

Significant Investor Stream:

Nomination by an Australian State or Territory Government:

• The visa is available only to applicants who receive a nomination from an Australian State or Territory government. To be nominated, the applicant must lodge an Expression of Interest (EOI) through the SkillSelect system.

Investment Amount:

The visa is for individuals willing to make an AUD 5 million investment in Australia.

Duration:

This is a 5-year temporary visa

Pathway to Permanent Residence:

• After maintaining an investment in Australia for 4 years, the applicant can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

• The applicant must have maintained their AUD 5 million investment in Australia for a minimum of 4 years.

• The main applicant must have been physically present in Australia for at least 40 days per year, calculated cumulatively for the period of time the applicant has held the provisional visa, or the applicant's spouse must have been physically present in Australia for at least 180 days per year, calculated cumulatively for the time the spouse has held the provisional visa.

Location During Application:

• Applicants can be either inside Australia or overseas when lodging this visa application. If the applicant is in Australia, they must hold a Substantive Visa or a Bridging A, B, or C visa.

Advantages of the SIV 188 Visa:

• No Upper Age Limit: There's no age restriction for applicants.

• No English Language Requirement: Applicants are not required to prove their English proficiency.

• No Points Tests: The visa does not involve a points-based assessment.

• Extensions: The visa provides for at least two extensions, each lasting 2 years, provided the extension requirements are met.

• Reduced Residence Requirement: There's a lower residence requirement of 40 days per year for the main applicant or 180 days for the spouse to qualify for the 888 Permanent visa.

Premium Investor Stream:

The requirements for the 188D Premium Investor (PIV) Stream visa are as follows-

Nominated by AusTrade:

• This visa is only available to applicants who are nominated by AusTrade.

Investment Duration and Amount:

• Applicants must make an investment of at least AUD 15 million in a “premium investment” prior to the grant of the visa.

• This is a 4-year temporary visa. After maintaining an investment in Australia for 1 year, the applicant can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

Location for Lodging the Visa:

• The applicants can either be in Australia or overseas to lodge this visa.

• If the applicant is in Australia, they must hold a Substantive Visa or a Bridging A, B, or C visa.

Types of Premium Investments:

• Australian securities exchange listed assets.

• Australian government or semi-government bonds or notes.

• Corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an AFS licensed debt rating agency.

• Australian proprietary limited companies.

• Real property in Australia, excluding residential property.

• Deferred annuities issued by Australian registered life companies.

• State or territory government approved philanthropic contribution.

Advantages:

• No residence requirement.

• Fast-track 12 months pathway to permanent residency.

Transition to Subclass 888 Visa:

• After maintaining the investment for the required duration, the applicant can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

Entrepreneur Stream

Eligibility Criteria:

• The applicant must receive a nomination from a State or Territory government agency in Australia.

• The applicant must either be currently undertaking or propose to undertake a complying entrepreneurial activity in Australia.

• A detailed business plan for the proposed entrepreneurial activity must be provided. This plan should outline the intentions, goals, and feasibility of the entrepreneurial venture.

• The applicant must have at least competent English proficiency. This ensures that the applicant can effectively communicate, understand, and operate within the Australian business environment.

• For startup and early-stage entrepreneurs, they should have been endorsed to develop their entrepreneurial concepts in Australia.

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