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188A Business Innovation Visa

This provisional visa is for people with business skills, intend to operate a new or existing business in Australia. This visa provide permanent resident(888 visa) pathway to the holder of visa.

188A-Business Innovation stream

If you are

  • ★ less than 55 years of age or is proposing to establish or participate in business or investment activity which is of exceptional economic benefit to the State or Territory ;
  • ★ have a successful business history;
  • ★ have adequate personal and business assets of at least AUD800,000, the funds must be available to transfer to Australia within 2 years of granting the visa;
  • ★ for 2 out of 4 fiscal years immediately before receive an invitation to apply, have had an ownership stake in 1 or 2 businesses that had at least AUD500,000 turnovers in each of those 2 years;
  • ★ score at least 65 points on the point test;
       POINT TEST HERE

You have to lodge an Expression Of Interest (EOI) and wait to receive an invitation from the State or Territory Government; it requires to satisfy the basic requirements of the above as well as the nomination requirements of the State or Territory Government.

The nomination requirements of State/Territory Governments 

New South Wales 188A
Criteria-Sydney Regions-postcodes:1000-1920, 2000-2249, 2555-2574, 2740-2786
1) Meet Department of Immigration’s requirements
2) Business turnover:
If you are seeking to migrate to Sydney
·        for at least two of the four fiscal years immediately before the application is made, you must have had a qualifying ownership interest in up to 2 main businesses that had an annual turnover of at least A$1.0 million.
3) Net personal and business assets :
If your proposed business will be in Sydney
·        you (or you and your spouse combined) must have net personal and business assets of at least A$1.3 million.
4) Have successful business career
5) Business investment:
If your proposed business will be in Sydney
·        your business commitment must include at least A$500,000 in business investment.
Criteria-NSW Regional Regions-All other postcode areas other than Sydney’s postcodes
1) Meet Department of Immigration’s requirements
2) Business turnover:
If you are seeking to migrate to Regional NSW
·        for at least two of the four fiscal years immediately before the application is made, you must have had a qualifying ownership interest in up to two main businesses that had an annual turnover of at least at least A$500,000 (in line with Department of Home Affairs criteria).
3) Net personal and business assets :
If your proposed business will be in Regional NSW
·        you (or you and your spouse combined) must have net personal and business assets of at least at least A$800,000 (in line with Department of Immigration criteria).
4) Have successful business career
5) Business investment:
If your proposed business will be in Regional NSW
·        your business commitment must include at least A$300,000 in business investment.
Victoria 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Point: must score at least 80 on the Department of Immigration’ points test
3) Propose Business activity . Can be any commercial endeavour, exclude below (unless otherwise agreed to in writing):
·        small scale property development
·        small scale freight forwarding and warehousing
·        commodity and scrap metal export
·        passive investment.
Export business activity
Applicants proposing to engage in export activity, must demonstrate that the business will export 100% Victorian manufactured products only.
4) Employee:
·        must agree to employ at least 1 full time Australian PR or citizen employee in their main business for a minimum of 12 months within the 24 months prior to lodging their nomination application for the Business Innovation and Investment (Permanent) visa
5) Business investment:
·        no less than AUD400,000 available for business activity and AUD 200,000 available for settlement activity.
Change of Business Activities
188 Business Innovation visa holders are permitted to change their business activity from that originally outlined in their nomination application.
ACT Canberra 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Business investment: Plan to meet two out of the following three investment criteria while holding the visa :
·        Invest at least $200,000 to purchase or establish a business in the ACT; and / or
·        Invest at least $600,000 investment in personal and business assets in the ACT; and / or
·        Employ at least the equivalent of two full-time employees who are Australian citizens, Australian permanent residents or New Zealand passport holders, and are not your family members.
Queensland 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Propose Business activity :
·        Entry level small retail business, such as convenience stores, cafes, restaurants are only accepted if your proposed business is established in regional Queensland.
·        General importing business will not be accepted unless the imported products are highly innovative, advanced in technology, or currently unavailable in Queensland. You should also provide value-adding service to the imported products such as customised design, product assembly installation, testing, repair, maintenance etc.
·        Property development businesses will not be acceptable.
5) Business investment: Must make a business investment of at least $200,000 after your visa is granted
South Australia 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Propose Business activity :
·        The choice of the business is based on the client's own preference; however, a business which is solely on-selling imports (including bringing product into South Australia from other States/Territories) will require substantial justification via the business plan to demonstrate the benefit to state
·        a proposed business undertaking property development is still at the discretion of the State Manager to approve
3) Previously Visit South Australia : you must have visited South Australia previously to be eligible for State nomination
Western Australia 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Adequate personal and business assets : you, your partner, or you and your partner combined must have total net business and personal assets of at least $AUD900,000 which will be held in Western Australia within two years of visa grant
3) Professional service business
You have not been engaged in a business where the provision of professional, technical or trade services took up more than 50 per cent of your time
4) Propose Business activity : it will need to contribute to the State’s economy through
·        transfer of new capital
·        generation of new employment
·        expansion of trade in Western Australian goods and/or services
·        development of export markets for Western Australian products or replacement of imports
·        introduction of new skills, expertise, technologies or innovations
·        investment in a regional area
5) Age : less than 55 years of age, or if at or above 55 years of age, you are proposing to participate in a business or investment activity which will be of exceptional economic benefit to the State include:
·        commit a significant amount of new capital investment
·        generate skilled employment or a large number of new jobs
·        develop export markets or replace imports
·        introduce new skills, expertise, technologies or innovations
·        locate the business activity in a regional area
·        have a significant flow-on effect to other sectors of the economy
6) Business investment: propose:
for any qualifying business
·   value of total net assets to be in Western Australia: at least AUD$900,000 of which at least AUD$300,000 must be net assets in business.
·   creation of new jobs (full time equivalent) in Western Australia: at least one
188 Business Innovation and Investment Visa – Business Investor Stream applicants must propose:
·   value of total net assets to be in Western Australia: at least AUD$2 million of which at least AUD$1.5 million must be invested into Western Australian Treasury Corporation (WATC) Bonds.
Northern Territory 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Propose Business activity : Activities must benefit Australia's Northern Territory (NT) and align with its economic goals through
·        transfer of new capital
·        generation of new employment
·        generation of Indigenous employment
·        expansion of trade in NT goods or services
·        development of export markets for NT products or replacement of imports
·        introduction of new skills, expertise, technologies or innovations
·        investment in remote areas
·        investment in a range of areas such as healthcare, education, tourism, mining and primary industries and fisheries
·        have a significant flow on effect to other sectors of the economy
and
an understanding of Australia's Northern Territory (NT) business and investment
Tasmania 188A
Criteria
1) Meet Department of Immigration’s requirements
2) Propose Business activity : Proposed business activity must demonstrate a genuine benefit to Tasmania. This may include
·        investment in key Tasmanian industry areas
o    Food and beverage production
o    Tourism
o    Aquaculture and Agriculture
o    Minerals and mining industry
o    Forestry and timber
o    Antarctic and marine science
o    Information and communications technology
o    Arts and Creative industries
·        Flow on benefits to other areas of the economy
·        Introduction of new skills, technology, innovations
·        Creation of jobs
·        Trade expansion
·        Innovation
Investment outside Greater Hobart
If for property development:
·        A minimum AUD 1.5 million investment leading to creation of at least 4 properties for general sale or tourism, low income or student accommodation.
·        Property development must add to stock of housing available for general sale or for increasing tourism, low income, or student accommodation.
·        Sale of developed property must be at arm’s-length (not to a known or related individual/ business)
Qualifying Business

The business/businesses using for meeting business skill must be a qualified business. Qualifying business means an enterprise that:

✪ is operated for the purpose of making profit through the provision of goods, services or goods and services (other than the provision of rental property) to the public; and

✪ is not operated primarily or substantially for the purpose of speculative or passive investment.