Business Innovation and Investment (Provisional) Visa Subclass 188

The Business Innovation and Investment Visa is applicable for those candidates who are looking to own or manage a business in the country. This is an Australian visa which allows the applicant to conduct various business related activities in the country. They can also undertake an entrepreneurial activity in the country. With the help of 188 visa, you can also start a new business if you wish to. The applicant must be recommended by the territorial government agency or by an Australian state. You can also bring your eligible family member with you who wishes to reside in the country.

In Visa Subclass 188, there are seven categories, amongst which two of them discussed here, which are Business Innovation Stream Visa and Investor Stream Visa. Depending on the eligibility criteria, you can either apply for Business Innovation and Investment (Permanent) Visa (Subclass 888) for Business Innovation Stream or Business Innovation and Investment (Permanent) Visa (Subclass 888) for Investor Stream. The Migration Agent Australia of the ISA Migrations & Education Consultants is the best one to be contacted if you want to avail the provisional Visa 188 and set up a business in the country.

Who Can Apply For Business Innovation Visa Subclass 188 Australia?
The provisional Visa 188 has certain factors which need to be qualified before you apply for it:

For Business Innovation Stream:

• You need to provide the proof of business success.
• Both you and your partner or only you should have the personal asset and total net business of AUD 800,000 while applying for the Business innovation visa.
• You must score at least 65 on the points test.

For Investor Stream:

• You must be a holder of an asset or an investment whose net value should be at least AUD 2.25 Million.
• You must score a minimum of 65 on the point’s board to get the Visa Subclass 188.
• You must have made an investment of AUD 1.5 Million in the territory of the country.

With Visa Subclass 188, you can operate a new business or can carry out an existing one in the country. The business Innovation Visa permits you to reside in the country for 4 years and 3 months. You can also apply for a permanent business visa which is Business Innovation and Investment Visa Subclass 888 either in the business stream or in the Investor Stream. The 188 Investor Visa allows you to bring your family members with you, who wish to reside in Australia.

To qualify for the Business Innovation Visa 188, you must attain the 188 Visa eligibility factors which are quite important. Without achieving these factors, you will not qualify for the Visa subclass 188. The eligibility factors are communicated below:

Common for Business Innovation Stream and Investor Stream Visa

• Status of the Visa:
  Your visa should not have been cancelled or rejected even for once in the past.
• Outstanding amount:
  You must not have any amount registered under your name with the Australian government. If anything as such is there, then you need to pay the amount before applying for it.
• Sign the Value Statements:
  The applicant needs to sign the statement which states that he or she will respect the law and order of the country during this period.
• Health and Character requirements:
  You must qualify the health and character requirements stated by the nation before applying for it. Your extended family members who are not travelling with you might also need to meet the requirements, in that case, the respective person needs to do so.
• Have Functional English:
  If the applicant is above 18 years, either he or she must know English Functional Test or need to pay an extra amount with the application form.
• Not have been involved in any kind of Illegal activity:
  Your business has not been involved in any kind of illegal activity that is unacceptable in the country.
• Age Requirement:
  You must be below 55 years when you are applying for it. An applicant who is above 55 years is eligible to apply for it if his business is of exceptional economic benefit.
• Score at least 65 in the points test:
  You must score at least 65 in the point’s test which includes qualifications, age factor, and business turnover, and special endorsement, net personal and business assets.
• Nomination Details:
  The applicant must be first nominated by the Australian government agency before applying.

For Business Innovation Stream Visa

• Business Career:
  The applicant must have a successful business career and should continue owning and managing the business.
• Personal and Business Asset:
  The business net value should be at least AUD 800,000 and you should be able to transfer it to the country lawfully within a 2 year time period after the visa is granted.
• Ownership of the Business:
  In these 2 out of 4 years’ time span, before you receive an invitation to apply for it, you must have a business of AUD 500,000 in these 2 years. You must own at least one of the below factors:
  • If the business has a turnover of AUD 400,000 or more per year, then you should own 30% of the business.
  • If the business has a turnover of AUD 400,000 or less per year, then you should own 50% of the business.
  • If the business is operated by a publicly listed company, then you should own 10% of the business.

For Investor Stream Visa

• Intent to live in the same place:
  You must reside in the same territory of the country for at least 2 years.
• Have the right experience:
  The applicant must have either a high level of management skills in relation to the investment or must comprise of a successful record of an investment activity or should contain at least 3 years’ experience in the business.
• Must own and manage the Business:
  The applicant must have an asset of AUD 2.25 Million or investment of AUD 1.5 Million in the country or managed a business of net value AUD 1.5 Million.

It is quite difficult to determine the 188 visa processing time, as it depends on quite a few factors. The Business Innovation Visa 188 processing time depends on:

• Filling the necessary details in the application form of Visa subclass 188.
• Provide the necessary details that are important for the visa to be granted.
• The authority needs some time to verify all the details that are submitted by you.

Summary

Being the most trusted and reliable Migration Agent Australia, we at ISA Migrations & Education Consultants are the perfect ones to approach for the Business Innovation Visa 188.

We help you by providing all the details that are needed for the Visa subclass 188 visa application forms to be granted. Right from the beginning of the application to the entire procedures, our experts will be right there to extend professional support. Give us a call and get in touch with us today for swift and prompt assistance!