GENERAL INTRODUCTION
I. Introducing the 188A visa
Business Innovation is one of the visa of the Investment Temporary Visa and Business innovation 188.
Business innovation for individuals with the ability to do business, to establish, manage and develop a new or existing business in Australia. Note that the individual must be appointed by an Australian state or territory government.
Therefore, you must submit an Expression of Interest (EOI) through the Skill Selection program and must be appointed by the state or territory government or Australian Trade Commission (Austrade) on behalf of the Australian Government before receiving an invitation to apply for a visa.
The visa is valid for up to 4 years and 3 months. After this time you can continue to stay in Australia by applying for an additional 2 years extension.
Obtaining this visa is the first step for you to qualify for an 888 Permanent Resident and Business Innovation visa.
II. Visa 188A benefits
- New start up or growing existing business in Australia.
- Access to Australian territory during visa period.
- Bring your family members to Australia for living.
- Get a chance to permanently reside in Australia by applying for a Permanent Resident visa 888 - Investment and Business Innovation.
III. Visa 188A conditions
- Under the age of 55, however, this condition will be ignored if your business is for the special economic interest of the state or territory designated.
- Achieve a minimum of 65 points in the rating scale system.
- 2 out of the 4 financial years immediately prior to submission, one or more businesses you own must have a minimum annual turnover of AUD 500 000.
- The minimum number of shares in an enterprise is specified as follows:
- 51% if the annual turnover is less than 400 000 AUD.
- 30% if the business has an annual turnover of or above AUD 400,000, or 10% if the company is listed on a stock exchange.
- Having a successful business career.
- There is a desire to own and maintain a management role in an Australian business.
If your designated business specializes in providing professional, technical, or commercial services, you must have at least half the time operating in these areas rather than general business management. At the time of receiving the visa application, you (and your spouse) must have a total legal assets of at least AUD 800,000 and must be available to move to Australia within 2 years of the date of visa issuance.
PARTICIPATION PROCESS
Step 1. Confirmation of consulting registration (1 month)
Step 2. Provide documents required by NTV (1 month)
Step 3. Aspiration Statement (EOI) (1 month)
Step 4. State Government Invitation (9 month)
Step 5. Visa is granted (12 month)
Step 6. Implement bussiness plan (12 month)
Step 7. Visa 888 (permanent) for Investment and Business
POINT SCALE
|
Evaluation factor |
Description |
Scores |
|
Age |
18–24 years old |
20 |
|
25–32 years old |
30 |
|
|
33–39 years old |
25 |
|
|
40–44 years old |
20 |
|
|
45–54 years old |
15 |
|
|
55 or > 55 years old |
0 |
|
|
English level |
Basic |
5 |
|
Competently |
10 |
|
|
Degree |
A business certificate, diploma or bachelor degree from a school in Australia; or Bachelor degree accredited by an educational institution |
5 |
|
A bachelor's degree in business, science or technology from an Australian institution; or a bachelor's degree recognized by an educational institution. |
10 |
|
|
Confirmed in some special cases |
The nominee's state or territory government agency believes that your proposed business is solely and specifically for that state's territory or territory. |
10 |
|
Financial capability |
The personal property or business of you, your spouse or both you and your spouse in the previous 2 years is at least: |
|
|
800 000 AUD |
5 |
|
|
1,3 million AUD |
15 |
|
|
1,8 million AUD |
25 |
|
|
2,25 million AUD |
35 |
|
|
Turnover of the business |
The annual turnover of the enterprise of the 2 years within the last 4 fiscal years shall reach at least: |
|
|
500 000 AUD |
5 |
|
|
1 million AUD |
15 |
|
|
1.5 million AUD |
25 |
|
|
2 triệu AUD |
35 |
|
|
For creative business Business experience |
You must have one or more businesses before you receive an invitation to apply for a visa: |
|
|
Not less than 4 years within the previous 5 years |
10 |
|
|
Not less than 7 years within the previous 8 years |
15 |
|
|
For investment
Experience of Investors |
Having a minimum investment of 100 000 AUD: |
|
|
At least 4 years prior to the time of receipt of the visa application |
10 |
|
|
At least 7 years prior to the time of receipt of the visa application |
15 |
|
|
Innovative business degree
At the time of receiving the invitation to apply for a visa: |
Proof of patent or registered design |
15 |
|
Proof of registered trademark |
10 |
|
|
Proof of joint venture agreement |
5 |
|
|
Proof of trade export |
15 |
|
|
Evidence of ownership of shares in newly established businesses has a rapid growth rate in a short time. |
10 |
|
|
Proof of receipt of sponsorship or business capital |
10 |
|
|
Designated by state or territory |
Confirmed in some special cases (limited quantity) |
10 |