Business Visa – Innovation Stream
Subclass 188A
(Temporary)
Overview
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As a 5-year provisional visa, Subclass 188A visa allows overseas business owners to own and manage either a new or an existing business in Australia.
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The holder of this visa can become eligible for permanent residency through Business Visa – Innovation stream (Subclass 888A) in just 3 years.
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It is points-based, meaning you must meet the threshold points requirement (minimum 65) to be eligible to apply.
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You may claim points based on a range of factors, such as age, financial assets, business experience, educational background and English competency.
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It is invitation-based, meaning the Immigration generally picks the top-calibre (highest-scored) applicants in each round based on their submitted Expressions of Interest (EOI) and issue them invitations to apply for this visa.
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You may include your family in your visa application so your entire family can migrate together.
Process
Step 1 – Lodge Expression of Interest (EOI) and wait for invitation from state/territory government
Step 2 – Apply for State/territory nomination once invited
Step 3 – Submit application for Subclass 188A visa when nomination is approved
Eligibility
Be aged under 55 (exemptions apply)
Receive invitation from the Immigration
Obtain nomination from state/territory government
Business turnover: for at least 2 of the 4 financial years immediately before you receive the invitation to apply, you must have had ownership in 1 or 2 businesses that had AUD 750,000 turnover in each of those 2 years
Business share: whether you own 1 or 2 businesses, you must own at least:
- 51% of the total value of the business if the business has a turnover of less than AUD 400,000 per year; or
- 30% of the total value of the business if the business has a turnover of AUD 400,000 or more per year; or
- 10% of the total value of the business if the business is operated by a publicly listed company
Financial assets: when you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD 1.25 million which must be available to transfer to Australia within 2 years of obtaining the visa.
Score at least 65 points on Points Test
Have not had involvement in unacceptable business or investment activities
Score at least 65 points on Points Test
Meet health and character requirements
Have functional English (or a second instalment of application fee applies)
Special Notes
Applicants must reside for at least 2 years in the nominating State/territory following the grant of the visa.
Location
Applicants may be in or outside Australia at the time of application and visa grant.
Duration of Stay
This visa is valid for 5 years. You may apply for an extension of 2 years if eligible.
Benefits
With this visa, you may:
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migrate to Australia together with your family
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apply for permanent residency through Business Visa – Innovation stream (Subclass 888A) visa in only 2 years if eligible
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potentially bring your extended family members to Australia permanently on parent visa or visa intended for other relatives
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stay in Australia for 5 years without having to leave
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access Australia’s public health care scheme (Medicare) which essentially provides free medical consultations, operations and hospitalization for a wide range of medical conditions
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travel overseas and back to Australia without limitations for any purposes (e.g. overseas holiday, visiting family and/or attending family matters in home country)
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study in Australia without any limitations
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attend free English language course provided by Australian government
Application Fees
You may include your family in the application so your family can migrate to Australia together.
First Instalment
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Main applicant: $6270
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Each secondary applicant aged 18 or over: $3135
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Each secondary applicant under 18: $1565
Second Instalment
If any applicant at least 18 is assessed as not having functional English at the time of invitation, a second instalment applies:
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Main applicant: $9795
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Each secondary applicant: $4890
Please note: you may incur third-party charges, for example, for assets valuation, translation, English test, police certificate and health exam.
Processing Time
Kindly note the processing time constantly varies. Please contact us for update.
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75% of applications: 31 months
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90% of applications: 35 months
