You are a business investor and you plan to migrate to Australia but do not know how… The following article will help you learn about the 188A visa and its conditions. If you want a permanent visa, in part 2 of the article we will introduce subclass 888A (stage 2 of visa 188A)
PART 1 – STAGE 1: VISA 188A
Benefits of owning a 188A visa
- To operate a new or existing business in Australia in Australia
- To stay in Australia for up to 5 years.
- To bring eligible family members.
- To apply for a permanent visa (Subclass 888) if certain requirements are
Conditions for applying for a 188A visa.
| CRITERIA | 188A |
| Point | 65 |
| Age | Under 55 years old |
| Be nominated | Nominated by an Australian State or Territory government agency |
| Business ownership | For 2 out of 4 fiscal years immediately before you receive an invitation to apply (ITA), having an ownership in 1 or 2 businesses at least:
– 51% of the total value of the business if the business has a turnover of less than AUD 400,000 per year; – 30% of the total value of the business if the business has a turnover of AUD 400,000 or more per year; – 10% of the total value of the business if the business is managed by a publicly listed company. |
| Business Experience | Not less than 4 years within the preceding 5 years
|
| Business Turnover | AUD 750,000 turnover in each of those 2 years |
| Total Assets | AUD 1,25 million |
| How | Running and managing a business in Australia
|
PART 2 – STAGE 2: VISA 888A
Benefits of owning an 888A visa
- To stay in Australia permanently
- To work and study in Australia
- To continue the business activities
- Be enrolled in Australia’s public health care program, Medicare.
- To sponsor the relatives to come to
- To travel to and from Australia for 5 years
- To apply for Australian citizenship if eligible.
Conditions for applying for visa 888A
| PERMANENT RESIDENCY | 888A |
| Residency Requirements | At least 1 year in the last 3 years immediately before applying 888A visa application |
| Business Ownership | For the 24 months immediately before applying, must own at least:
– 51% of the total value of a business with a turnover of less than AUD 400,000 per year, or – 30% of the total value of a business with a turnover of AUD 400,000 or more per year, or – 10% of the total value of a business that is operated by a publicly listed company. Having a direct and continuous management role in that business or businesses. |
| Business Turnover | At least AUD 300,000 in the 12 months immediately before the application |
| Assets and employees requirement | Within 1 year prior to application, must meet at least 2 of the following 3 requirements:
– Assets of AUD 200,000 net value in the main business. – Personal and business assets of AUD 600,000 net value. – At least 2 full-time employees who are permanent residents/Australian citizens (not family members of Applicant) |
Some risks of investing in Australia with visa 188A – 888A:
- Business profile and business plan risks:
- The enterprise that the investor owns/operates does not meet the conditions for revenue and assets. The investor does not own the minimum percentage (30%) required for the business.
- The business option in Australia is not feasible, not eligible to apply for a permanent immigrant visa 888A.
- Risks of documents and documents:
- The applicant submits missing
- Unsatisfactory documents and documents of the Immigration Department
- The applicant provides, enters false information.
Coming to BCCM, customers do not need to worry about the risk of paperwork and visa application procedures. BCCM International Co., Ltd. has a team of lawyers with many years of experience and working in immigration-related fields. We are one of the experts in the field of Business & Corporate Consulting, Legal – Litigation, Immigration and International Transactions. For detailed advice on investor-business visas and permanent residency opportunities in Australia, please contact us:
BCCM International LLP.
Address: 2-6 Phung Khac Khoan, District 1, Ho Chi Minh City, Vietnam.
Tel: +84-28-3521-2535 | Fax: +84-28-3521-2536
Email: CMS@bccm.vn
