The Federal government of Australia has planned to allocate a large share of their Permanent Residence seats to BUSINESS VISAS. Every state in Australia is looking for Businessmen from all over the world who have genuine intentions to invest in these States by running their own businesses. The 188 Business Innovation and Investment (Provisional) visa (EB-188) is the only subclass of the Business Skills (Provisional) (Class EB) visa. This visa may lead to a permanent subclass of 888 visas.
EB-188 has the following five streams:
• Business Innovation (188A)
• Investor (188B)
• Significant Investor (188C)
• Premium Investor (188D)
• Entrepreneur (188E)
The visa is valid for up to 4 years and 3 months from the date of grant.
- Applicant must be under 55 at the time of invitation.
- Applicants who are 55 years or older may access age exemptions under nomination by a State/Territory government, which may deem them of exceptional economic benefit to the State/Territory.
- English: Functional at the time of decision (IELTS 4.5 overall/ if not, then pay around AUD 5000.)
- If claiming Points – Time of EOI- Minimum 65 score – Points Test ( Consult our Registered Migration Agent for your Points Assessment)
- State/Territory Nomination
- Previous Business Ownership: Applicants must have had, for at least 2 of the 4 fiscal years preceding the date of the invitation, an ownership interest in one or more qualifying, main businesses that had an annual turnover of at least AUD 500 000 together, in each of those 2 years. From July 1st, AUD$750,000.00
- The applicant and his/ her de facto partner or spouse must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
NEW CHANGES TO BUSINESS VISAS FROM 1st JULY 2021
- Assets $800K to $1.2 million
- Business Turnover from $500K to $750K annually
- 5-year initial visa grant instead of 4 years
- PR application possible after 3 years only
- CONSULT OUR REGISTERED MIGRATION AGENT FOR AN INITIAL ASSESSMENT