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188A/888A investment immigration
188A Business Innovation Stream (Business Innovation Stream), also known as 188A investment immigration visa, is one of the three major categories of Australian business immigration 188 visa. The Australian government hopes to attract truly innovative professional technical and management talents to do business and start up businesses in Australia. Injecting capital and creating jobs in Australia. The 188A investment immigration visa mainly targets four categories of applicants: corporate legal persons, shareholders, contractors, and senior managers. Before submitting the 188A visa application, the applicant must submit EO1 through the SkilSelect system and must be nominated by the state or regional government to apply for this type of visa. Holding the Australian Investment Immigration 188 visa is eligible to obtain the Australian Innovation and Investment Permanent Residence Visa (888 ) in the first step. 188A is valid for 5 years from the date of issuance. The visa validity period will be adjusted to 4 years and 3 months before July 1, 2021). After being approved, the applicant needs to operate the company normally in the sponsored state of Australia for at least 2 years and participate in daily management work. After living in Australia for a certain number of years within 5 years (before July 1, 2021, the applicant must have lived in Australia for 2 years before submitting 888A). 1 year, after July 1, 2021, the 3 years before submitting 888A will be 1 year.) You can transfer to 888A business innovation and investment permanent residence visa.
188A Business Innovation Temporary Visa
Main advantages of 188A visa
● There is no English requirement for applicants;
● Only need to audit the company’s turnover, the minimum investment is 200,000 Australian dollars, and the form of investment business is more flexible;
● Can apply for temporary residence and corresponding permanent residence visa with eligible direct family members;
● visa holders are free to travel to and from Australia;
● During the visa period, children can attend Australian public primary and secondary schools for free;
● The whole family immigrates.
188A visa general requirements
● Need to get EOl invitation (be invited to apply);
● be guaranteed by the state government;
● Be younger than 55 years old (unless exempted by the state government);
● The score reaches 65 points (click to view the 188A investment immigration self-test form);
● Successful business or investment history.
188A visa application conditions
● The main applicant is under the age of 55 or exempted by the state government, and the accompanying children are under the age of 23 when the visa is approved;
● The EOl score of the business selection system is not less than 65 points (click to view the 188A investment immigration self-test form);
● The total family assets owned by the applicant (or together with the spouse) are no less than 800,000 Australian dollars (the total family assets will be adjusted to 1.25 million Australian dollars after July 1, 2021), and the investment period is 3 years. These assets are obtained through legal means and can be transferred to Australia within 2 years after issuance;
● In at least 2 of the past 4 financial years, the annual turnover of the enterprise is not less than 500,000 Australian dollars (up to 2 companies combined) (the annual turnover of the enterprise will be adjusted to 750,000 Australian dollars after July 1, 2021);
● Husband and wife own any of the following enterprises:
A company with an annual turnover of less than RMB 400,000, holding at least 51% of the shares;
Companies with an annual turnover rate higher than RMB 400,000 must hold at least 30% of the shares;
If it is a publicly-listed company, hold at least 10% of the shares;
● successful business background;
● Can prove the true intention of operating and managing a business in Australia:
● If the business nominated by the applicant is a type of enterprise that provides professional, technical or transactional services to external parties, the applicant must spend no more than 50% of the time on these services compared with the enterprise that comprehensively manages the applicant;
● The applicant and the applicant’s spouse are not involved in illegal business or investment activities.
188A visa application process
1. Submit an application for expression of interest (EOI)
2. Call and obtain state government guarantee
3. Get EOl invitation
4. Complete asset audit
5. Submit application materials
6. Get the interview or interview exemption notice and supplement the materials
7. Physical examination and payment of English contribution fee
8. Signed
188A visa processing cycle
● Visa application stage
75% of applications are approved within 31 months
90% of applications are approved within 33 months
188A visa application fee
● State sponsorship application fee: It depends on the standards of each state, ranging from free to hundreds of Australian dollars.
● Visa application fee
Main Applicant: AU S 6,085.00
Sub-applicant over 18 years old: AU $3,045.00
Sub-applicant under 18 years old: AU $1520.00
● English contribution:
1. If the main applicant does not have an IELTS score report with a total score of 4.5, he or she must pay a language fee of AUS 9,795.00.
2. Spouses or accompanying children over 18 years old who do not reach a total IELTS score of 4.5 will need to pay a language learning fee of AU $,890.00/person.
188A visa renewal fee (renewal for two years)
Main applicant: AU $730.00
Sub-applicant over 18 years old: AU S 370.00
Sub-applicants under the age of 18: AU $ 185.00
(Note: The above fee is the latest immigration application fee after July 1, 2021, and the final fee will be subject to the final charge of the Australian immigration department)
888A Business Innovation Permanent Residence Visa
After the applicant is approved for the 188A visa, he needs to operate the company normally in Australia and participate in daily management. After meeting the following requirements, he can transfer to the 888A business innovation and investment permanent residence visa.
888A visa requirements for company operations
In the 2 years before submitting the application, the applicant must meet:
● Own and continue to own ownership (shares) of up to two major Australian businesses
● Serve in a direct and ongoing management role within the company
● lodge business activity statements with the Australian Taxation Office
● Each company under the name has an independent ABN.
In the 24 months prior to submission, applicants must meet:
● If the company’s annual turnover is less than A$400,000, it must hold more than 51% of the shares
● If the company’s annual turnover is greater than 400,000 Australian dollars, it must hold more than 30% of the shares
● If the company is a listed company, it must hold more than 10% of the shares.
If the original owners of the company you are acquiring are:
● Have submitted the 888A visa or hold the 888A visa
● Holding 890/891/892/893 permanent residence visa for business skilled immigrants,
The applicant must prove that the applicant and the owner of the acquired company have jointly owned the company for at least 1 year before submitting.
In the 12 months prior to submission, applicants must meet:
(If you meet the exemption conditions of the guaranteed state or territory, you can apply for an exemption. The annual turnover of the company is more than 300,000 Australian dollars.
888A visa asset and employee requirements
In the 12 months before the visa submission, the applicant or his/her spouse or the applicant and his or her spouse must meet any two of the following conditions
● The net business assets in Australia are more than A$200,000,
● The commercial and personal net assets in Australia reach more than 600,000 (including commercial net assets of 200,000)
● Employ at least 2 Australian local full-time or equivalent full-time employees (not family members)
(The above conditions can be waived if the exemption conditions of the state or territory being sponsored are met.)
888A visa residence requirements
Please refer to the following link: Residence time requirements for investment immigrants in Australia and exemption requirements during the epidemic
888A visa application process
1. Submit state government guarantee
2. Submit visa application
3. Permanent residence visa approved
888A visa processing cycle
● Visa application stage: about 8-12 months.
● Visa application fee:
Main Applicant: AU S2,935.00
Sub-applicant over 18 years old: AU $ 1,470.00
Sub-applicants under the age of 18: AU S 730.00
(Note: The above fees are the latest Immigration Bureau application fees after July 1, 2021, and the final fee will be subject to the final charge by the Australian Immigration Department)