188 Visa Australia Meant For Prospective Business Owners In Australia
188 Visa Australia is a subclass of Business Innovation and Investment visas that allows successful entrepreneurs to invest in an existing or new business. If you want to open a business in Australia and make some investments in any Australian territory then you can apply for 188 Visa Australia. It is a temporary visa that can be applied for five different streams: business innovation stream, investor stream, significant investor stream, entrepreneur stream or premium investor stream. It is a points-test based type of visa that is open for only those who are nominated by a territory or state government. But, after launching your business in Australia, you can apply for a permanent visa through 888-Business Innovation and Investment Visa. For this permanent visa, you need to fulfill some criteria implemented by the Australian Government.
Streams To Apply For 188 Visa Australia:
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| 188 Visa Australia |
As already mentioned, 188 Visa Australia can be applied for in five different streams. Let’s find out which one you should apply for:
- Apply for a business innovation stream if you want to establish a new business or manage an existing business in Australia.
- Apply for investor stream if you want to maintain investment and business activity in Australia and if you are ready to invest a minimum of $1.5 million in it.
- Apply for a significant investor stream if you are ready to invest a minimum of $5 million in business. You can invest this amount in any Australian territory.
- Apply for a premium investor stream if you are ready to invest a minimum of $15 million in a business or investment activity in Australia.
- Apply for entrepreneur stream if you have funding of a minimum $200,000 from a 3rd party to carry out business activities in Australia.
Eligibility Criteria For 188 Visa Australia:
No matter in whichever stream you are applying, here are a few eligibility conditions that you must meet to get 188 Visa Australia:
- You should be minimum 18 and maximum 55 years of age, however, the upper age limit is exempted in case of exceptionally profitable proposals.
- You must submit an EOI (Expression of Interest) before filing your visa application
- You should be invited by the Australian Government.
- You must be nominated by a territory or state government, or by Austrade from the Australian government
- You must meet the health and character requirements specified by the Australian government
How To Apply For 188 Visa Australia?
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| 188 Visa Australia |
- If you are applying for business innovation or investor stream, then you will need to give a points test. You have to score a minimum of 65 points, after which you get entitled to receive an invitation for application. This test is not required for candidates applying under any of the other three streams.
- Then you will have to draft and submit an expression of interest, after which you will receive an invitation for application from the department.
- You need to prepare and submit your application within a given deadline. If you are already in Australia, you will receive a bridging visa until the expiry of your current visa. This will give you permission to stay in the country until your 188 Visa Australia is granted or rejected. Once your visa approved, you can start your own business according to your business proposals in Australia.
Remember, if you do not apply for your visa within 2 months, your state nomination will be canceled. After that, you will need to submit another state nomination application to the Business Migration Centre.
So, if you are planning to establish or manage a business in Australia, then consider applying for 188 Visa Australia today. Take the help of professionals if you are not sure and want to maximize your chances of approval.
