About Business Innovation & Investment Visa (Visa 188A)
The provisional Business Innovation and Investment visa (Visa 188A) is part of the Australian government’s Business Innovation program to attract successful entrepreneurs & investors from around the world to immigrate and grow businesses in Australia.
- Investor and family members (spouse and children under the age of 23 at the time the visa is issued) will be granted a Temporary Resident Visa (Visa 188A) for a period of more than 4 years (and can be extended for another 2 year)
- While holding the 188A – Temporary Resident Visa, applicants need to meet the additional requirements for doing business in Australia before they can apply for the 888A – Permanent Resident Visa
- The advantage of Visa 188A is that the assets and revenue conditions of businesses in Vietnam are easier to achieve than the other types of Visa
Visa 188A Benefits
- Children under the age of 18 enjoy 12 years of compulsory education in Australia
- You can buy a second-hand house in Australia
- The sub-applicant can live in place of the main applicant
- Low asset requirements, the overall asset requirement is 1,250,000 AUD
Visa 188A Requirements
- Primary applicant under 55 years old
- Have the successful experience of directly participating in the operation and managing the enterprise
- The personal net assets of the main applicant and spouse are not less than 1,250,000 AUD
- The company has a turnover of at least 750,000 AUD/year in 2 of the past 4 years
- The main applicant has a score of 65 points (Victorian needs to have positions in science, technology, engineering, mathematics and MBA majors, IELTS 5.0)
- Ownership of business shares: You together with your spouse must have at least
- The equity is at least 51% or more – When the annual turnover is less than 400,000 AUD
- The equity is at least 30% or more – When the annual turnover is greater than or equal to 400,000 AUD
- At least 10% equity – If your business is a listed company
From Visa 188A To Visa 888A
Conditions for applicants
- The main applicant is the main applicant holding a 188A visa or his spouse;
- Obtain state and local government guarantees
- Business turnover and ownership, the applicant should meet the following requirements in the 12 months before application:
- The applicant’s business turnover in Australia reaches 300,000 AUD
- The applicant has been managing the company for more than 2 years
- The applicant and spouse must meet at least two of the following three conditions in the 12 months before the application:
- Continue to have business net assets of more than 200,000 AUD
- Continue to have total net assets of more than 600,000 AUD in the nominated state
- Continue to hire 02 full-time employees (non-family members and Australian permanent residents or citizens)
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Other visas
Visa 188B - 888B
Visa 188C - 888C
Visa 190/491 MINT Program
Global Talent Independent Visa (Visa GTI)
Family Visa
