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Australia is one of the top places for business tourists seeking for newer lands due to its amazing exploration chances. Australia is a talent magnet and a regional economic powerhouse due to its distinctive landscape. The Australian Firm Innovation & Investment Stream visa allows entrepreneurs to set up or buy a business in Australia (subclass 188). It is a road to permanent residency that gives outstanding rewards to individuals who satisfy the qualifications. Global Investment Services’ staff in charge of investor visas is among the finest in the world. if this is the case, and if this is the case, and if this is the case, and if this is the case, and if this is the case, and this is the case.
Those wanting to invest in new or existing Australian firms, or in a bond issued by an Australian state or territory, should have a track record of success outside of Australia. This visa is also accessible to investors who have a proven track record of success overseas. The Business Innovation and Investment (Permanent) (Subclass 888) Visa is a four-year temporary visa that offers.
This visa has five streams, which are as follows:
- Business Innovation Stream – for those with the necessary business skills who desire to start, grow, and manage a new or existing business in Australia.
- Investor Stream – for persons who wish to continue doing business and investing in Australia and want to invest at least AUD1.5 million in one of the country’s states or territories.
- Significant Investor Stream – for individuals who are prepared to invest at least AUD $5 million into compliant assets in Australia and who wish to retain their company and investment operations there.
- Premium Investor Stream – for individuals who wish to retain their company and investment activities in Australia and are ready to spend at least AUD$15 million in qualifying premium assets.
- Entrepreneur Stream – Individuals who have a funding agreement in place with a third party for at least AUD $200 000 to carry out a legitimate entrepreneur activity that will either lead to the commercialization of an item or service in Australia or the founding of a firm there.
Key Benefits
- Develop a new business, expand an existing one, invest in Australia, work with a state or territory government in Australia to make a specific investment, or establish and maintain legitimate interests in Australia.
- You can use your visa to enter and exit Australia.
- Bring your family with you to Australia.
- To get permanent residency, apply for a Business Innovation and Investment (Permanent) Visa (subclass 888).
Eligibility Criteria
To be eligible for 188 visa, you must:
- The applicant must be between 25 to 55 years of age
- Should have successful business career (not less than 4 years)
- The applicant can own (in Pakistan) maximum two businesses that can be claimed
- The business must have at least AUD 750,000/- annual TURNOVER/SALES/REVENUES, for the last two to three years before applying the visa
- Must have personal & business assets of minimum value of AUD 1.5 Million (this is also included in the documents charges)
- The applicant must receive an invitation by an Australian State (like Victoria, Queensland, NSW)
- The applicant must have at least vocational English abilities or 12 to 14 years of fulltime education (we will arrange English proficiency letters to waive off IELTS)
- The applicant must possess personal and company assets totaling at least $2,000,000 (including assets owned by the applicant and his partner); this requirement is the responsibility of the consultant and is covered by document fees.
- The tax returns should display the same turnover and assets as the other documents if the business is registered with NTN.
How are the eligibility points calculated?
The 65 points to be attained are calculated based on the following criteria:
|
Factor
|
Description
|
Points
|
|---|---|---|
|
Age
|
18–24 years
|
20
|
|
|
25–32 years
|
30
|
|
|
33–39 years
|
25
|
|
|
40–44 years
|
20
|
|
|
45–54 years
|
15
|
|
|
55 and older
|
0
|
|
English language ability
|
Vocational English
|
5
|
|
|
Proficient English
|
10
|
|
Educational Qualifications
|
Trade certificate, diploma or bachelor degree by an Australian education institute; or a bachelor qualification recognized by an educational institution of a recognized standard
|
5
|
|
|
A Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification in business, science or technology by an educational institution of a recognized standard
|
10
|
|
Financial assets
|
Net business and personal assets of you, your partner or you and your partner combined in each of the preceding 2 fiscal years immediately before the time of invitation of at least:
|
|
|
|
Not less than AUD1,250,000
|
5
|
|
|
Not less than AUD1,750,000
|
15
|
|
|
Not less than AUD2,250,000
|
25
|
|
|
Not less than AUD2,750,000
|
35
|
|
Business turnover
|
If you are invited to apply for the visa on or after 1 July 2021, you had an ownership interest in one or more main businesses that had an annual turnover in at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa:
|
|
|
|
Not less than AUD750,000
|
5
|
|
|
Not less than AUD1,250,000
|
15
|
|
|
Not less than AUD1.,750,000
|
25
|
|
|
Not less than AUD2,250,000
|
35
|
|
Business Innovation stream only
Business experience
|
You have held 1 or more main businesses before you were invited to apply for the visa for:
|
|
|
|
Not less than 4 years within the preceding 5 years
|
10
|
|
|
Not less than 7 years within the preceding 8 years
|
15
|
|
Investor stream only
Investor experience
|
If you are invited to apply for the visa on or after 1 July 2021, immediately before the time of invitation to apply for the visa you held eligible investments of at least AUD250,000 held for:
|
|
|
|
Not less than 4 years
|
10
|
|
|
Not less than 7 years
|
15
|
|
Business innovation qualifications
|
Patents or designs registered not less than 1 year before that time and used in the day to day activities of the main business
|
15
|
|
|
Trademarks registered not less than 1 year before that time and used in the day to day activities of the main business
|
10
|
|
|
An ownership in and day to day participation in the management of one or more main business operated under a formal joint venture agreement/s entered into no less than 1 year before the time
|
5
|
|
|
An ownership interest in a main business/s that derives no less than 50% of its annual turnover from export trade
|
15
|
|
|
An ownership interest in a main business/s not more than 5 years before :
• had an average annualized growth in turnover that was greater than 20% per annum over 3 continuous fiscal years; and • in at least one of the 3 fiscal years employed 10 or more employees for a total number of hours that was at least the total number of hours that would have been worked by 10 full-time employees |
15
|
|
|
An ownership interest in a main business/s that received :
• a grant from a government body in your home country of at least AUD10,000 for the purposes of early phase start up of a business, product commercialisation, business development or business expansion or • venture capital funding of at least AUD100,000 not more than 4 years before the time of the invitation for the purposes of early phase startup of a business, product commercialization, business development or business expansion |
10
|
|
Special endorsement
|
The nominating State or Territory government agency has determined that your proposed business is of unique and important benefit to the State or Territory where the nominating government agency is located
|
10
|
Application Process
Step 1: Submit an Expression of Interest (EOI) on Skill Select and Earn at least 65 points
Step 2: Apply for state/territory nomination depending on where you plan to establish your business and live in Australia
Step 3: Receive an Invitation to Apply (ITA) once the state/territory nomination is approved
Step 4: Submit your visa application within 60 days of receiving the ITA
Step 5: Provide all supporting documents by mailing certified copies to the correct DIBP office
Document Checklist
The applicant must submit the following documents supporting his business visa 188 application:
• A copy of the pages from recent passport.
• An outline of his business plans and goals in Australia (a description of the research or study in appropriate sectors, an outline of investment activities, etc.)
• Bank statements showing the net value of the business and personal assets.
• Proof that the applicant owns a business at the time of the application.
• Proof that the applicant has managed his business (made essential decisions, involved himself in day-to-day activities, etc.)
• Business license proving that the business is registered.
• Evidence that the applicant partially owns the business.
• Financial statements prepared by an independent accountant according to international accounting standards. Documents must include a balance sheet, profit, and loss statement and cover:
• Records from two fiscal years before the applicant is invited to apply for business visa 188.
• Any other fiscal year from 4 years before the applicant is invited to apply for visa 188.
• A detailed one-page chart showing the applicant’s position in the company, staff members, responsibilities, and so on.
• Six photographs of the business place (building, set up, and so on).
• Evidence that the applicant, his spouse, or both together have a total of personal assets of AUD800,000. The applicant must transfer these assets within a two-year period after he gets visa 188, and he must specify the transfer date 3 months before he apply for the visa.
• Form 1139A for the statement of assets and liabilities position (SALP).
• The applicant must provide any proof of ownership for every asset, its value, and any liabilities.
• Points test documents.
• Proof that the applicant has a functional level of English language.
• Evidence that the applicant have a fine character. Attached to the character documents the applicant must also provide form 80 for his character assessment and personal particulars assessment.
• In case the applicant assign someone to receive communication for the visa application, then he must provide this form, but, if a migration agent is helping him then submit form 956.
• The applicant is also recommended to obtain adequate health insurance during his stay in Australia, and he may be asked to submit proof that he doesn’t have any serious illnesses.
• Details of losses or insolvency if it’s applicable.
• Sign Australia’s values statement.
If the applicant is applying with family members, he must also include:
• His partner’s identity documents.
• Marriage certificate or evidence of relationship.
• Copies of his children’s birth certificates (if he’s applying with his children).
• Copies of adoption papers (if applicable).
• Parental consent or a statutory declaration.
• Proof of dependency, form 47a, if he is bringing children over 18 years old with him.
For the investor stream please include these as well:
• A list of all funds in latest form of statements of assets and liabilities position. These funds must be what the applicant intend to use to fund his 1.5 million investment.
• Prove that the applicant has at least 3 years of owning or managing a business, or proof of owning or managing an eligible investment of AUD1.5 million.
For the significant and premium stream, you must provide the following:
• A detailed description of how will the applicant make his investment and the amounts of each investment.
• His assets’ portfolio source of funds. The applicant must sign a declaration listing his fund sources and that they were acquired legally.
For the entrepreneur stream:
• The funding agreement.
• A business plan.
• Proof of your ownership interest in the entrepreneurial activity.
Answers to frequently
asked questions
Nobody can guarantee that you will gain citizenship via investing. DealDone21 offers a Compliance Department that performs preliminary due diligence checks on applicants in order to identify rejection risk and best option to overcome that risk. As a result, the vast majority of our clients pass the Due Diligence and obtain citizenship.
Investors may be able to recoup their money under the Dominica program. They can sell a stock or a piece of real estate three years later. They get rental money for the duration of their ownership. Typically, the investor earns 2-5% each year.