Australian Business Innovation and Investment Visa (188A)

About Australian Business Innovation and Investment Visa (Subclass 188A)

The Australian Business Innovation and Investment Visa (Subclass 188A) is an ideal choice for experienced investors in the business sector. This program allows investors to come to Australia to invest in and manage a new business, purchase an existing business, or engage in franchise models, with an investment starting from just 300,000 AUD (approximately 4.9 billion VND).

When investors meet all the required conditions, they will be granted the Australian permanent residency Visa (Subclass 888A). Additionally, the spouse and children under 23 years old of the primary applicant will also be granted accompanying visa.

Time to Residency

At least 2 years

Minimum Investment

300,000 AUD (4.9 billion VND)

Type of Investment

Entrepreneur, Business owners

Visa-free Countries

Freedom to travel in and out of Australia and New Zealand

Benefits of the Australian Business Innovation and Investment Visa (Subclass 188A)

The spouse and children under 23 years old of the primary applicant will be granted accompanying visas
Children will receive free education until the end of high school at public schools in Australia.
The primary applicant can obtain permanent residency in Australia (Subclass 888A) after a minimum of 3 years if all business and residency requirements are met.
Freedom to travel between Vietnam and Australia.

Advantages of the Australian Business Innovation and Investment Visa (Subclass 188A)

Investors can own and manage a business in Australia.
They can establish a new business or purchase an existing one.
The investment amount is lower compared to other Australian business investment programs.
Offers potential for profitability from business operations.

Conditions for the Australian Business Innovation and Investment Visa (Subclass 188A)

Applicants must meet the following conditions:

Requirements for the Applicant's Skills

Between 18 and 55 years old.
Must be a business owner or shareholder actively involved in the management of the company, with proven successful business experience in Vietnam.
A minimum total asset value of 1,250,000 AUD (~21.9 billion VND).
Must score at least 65 points on the Australian immigration points test.
Must be nominated by one of the Australian states or territories.

Requirements for the Company and Business Experience in Vietnam

Must own at least 30% of the company's equity and be directly involved in managing the business for a minimum of 3 years.
In 2 out of the last 4 financial years (up to the date of application), the company's annual revenue must be at least 750,000 AUD (~13.1 billion VND).
Provide evidence of a successful business operation in Vietnam.

Requirements for Company and Business Experience in Australia

Establish or acquire a business in Australia and directly manage it, with at least 30% ownership.
Investment threshold starts from 300,000 AUD (~4.9 billion VND), depending on the state.

Process for obtaining an Australian Business Innovation Visa (188A)

Step 1: Assess the requirements and prepare the necessary documents for the visa application.
Step 2: Submit a nomination application to the state or territory where you intend to invest or establish a business.
Step 3: After receiving state nomination, submit your 188A visa application to the Australian immigration authorities.
Step 4: Monitor the processing of your application and wait for its approval.
Step 5: Complete the required health examination as mandated by the Australian immigration authorities.
Step 6: Obtain your 188A visa once all previous steps are completed and your application is approved.
Step 7: Move to Australia and proceed with your planned investment or business management activities.

Risks of Investing in Australian Visa 188A

When investing to settle in Australia with visa 188A, there are several risks to be aware of:

The business owned or managed by the investor may not meet revenue or asset requirements, or may fail to achieve the minimum 30% ownership ratio.
The business plan in Australia might not be feasible or may not qualify for conversion to a permanent residency visa 888A.
The applicant may face risks if providing incorrect information or has a history of communicable diseases, cancer, hepatitis B, HIV/AIDS.
Choosing an inexperienced lawyer or immigration company could lead to issues in proving the source of funds and preparing documentation that does not meet the immigration department's requirements.

When choosing Quốc Tịch Thứ Hai, these risks are significantly minimized. We are committed to thoroughly verifying and evaluating the investor's documentation before assisting with the application preparation to ensure that all requirements of the Australian Department of Immigration are fully met.

Proving Income and Legitimate Source of Funds

The Australian immigration investment program requires investors to prove that their investment funds are legal and clean, similar to investment immigration programs in the US and Canada. Applicants must demonstrate that the investment money has a clear and lawful origin.

The proof of clean funds and lawful accumulated income depends on the type of visa the applicant chooses. For example, with the 188B visa, investors must prove ownership of assets amounting to at least 2.5 million AUD (approximately 43.8 billion VND). If the assets are real estate, detailed explanations of the working process and the accumulation of money at the time of purchasing the property are needed.

Investors should thoroughly review the guidelines provided by the Australian Department of Immigration related to each visa type to ensure accurate and complete information when preparing their application.

Common types of assets typically included in an Australian investment immigration visa application include:

Residential properties, land, or other types of real estate owned by the applicant.
The value of the company, including fixed assets, equipment, and business ownership.
Savings accounts or other types of financial accounts with value.

Investing in companies through ownership of shares or stocks. All of the aforementioned assets must be registered in the name and owned by the applicant and/or their accompanying spouse.

Investors can use mortgaged real estate to demonstrate their financial status. However, it should be noted that the outstanding loan value from the mortgage may be deducted from the total value of the assets.

Documents for applying for a 188A visa

To apply for a 188A visa, you need to prepare the following documents:

Identification documents:

A copy of the applicant's valid passport.
ID card/National Identification Card: A copy of the valid ID card or national identification card.
A copy of the applicant's birth certificate.
A copy of the marriage certificate (if applicable).
If there has been a name change, provide documentation to prove it.
Provide documents related to English language proficiency and qualifications.
Health documents will be sent directly to the Australian Department of Immigration by the medical facility.
Provide documents proving that the applicant has achieved the required 65 points for immigration, including English language certificates, qualifications, and documents proving assets and company revenue.

Documents about the Business:

Business license, company registration certificate.
Description of business activities, organizational chart, layout images.
Documents proving the applicant's annual contribution to the business.
Evidence of executive rights and direct management of the company.

Evidence of asset sources:

Bank statements, property ownership certificates, loan agreements, loan statements, share certificates, equity ownership documents, and financial reports.

Documents/Procedures for accompanying individuals (if applicable):

Copy of identification documents for spouse and children under 23 years old.
Documents proving the accompanying individual's eligibility.
Proof of relationship with the primary applicant.

Submit the initial application

9,450 AUD for the main applicant
4,725 AUD for each accompanying adult (18 years and older)
2,365 AUD for each child under 18 years

Submit additional fees

9,795 AUD for the main applicant
4,890 AUD for accompanying dependents aged 18 or over
0 AUD for dependents under 18 years old

(If the applicant aged 18 or over does not meet the 4.5 IELTS requirement)

Processing time for the 188A visa

Typically, the processing time for the Australian 188A visa ranges from 12 to 24 months.

However, some applicants may experience significant delays if their application does not meet the Australian Department of Immigration’s requirements, potentially extending the waiting time to up to 2.5 years or even 3 years.

In some cases, the visa may be denied if the application does not meet the requirements, or if the applicant has a criminal record, history of offenses, or fails to meet health requirements.

Important considerations when holding a Visa 188A

To obtain a Visa 188A, you need to pay attention to the following key points:

You and your family must ensure there is no history related to illegal business or investment activities.
You need to live and conduct business in the Australian state or territory that nominated you. To be eligible for permanent residency application, you must be present in Australia for at least 2 years before applying.
Austrade must not withdraw its nomination for your application.
You must hold shares and directly manage one or more businesses operating in the nominated Australian state or territory for the 2 years immediately preceding your application date.
Your business needs to have an Australian Business Number (ABN) and must submit business activity reports to the tax authorities for the 2 years prior to your 888A visa application date.

To succeed in applying for the 188A visa, choosing a reputable migration consultancy is crucial. Second Citizenship is one of the leading companies in Australian migration consulting with many years of experience. We provide high-quality advisory services and are a trusted partner of numerous government agencies managing residency programs worldwide..

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What is the 188A Visa and who is it for?

The 188A Visa (Business Innovation Stream) is a temporary visa designed for entrepreneurs with successful overseas business experience who wish to invest in and develop a business in Australia. This program targets individuals who own or manage businesses with significant turnover, possess sufficient financial capacity, and aim for long-term residency through active business operations in Australia.

Basic eligibility criteria for the 188A Visa

Applicants must meet the following key requirements:

Under 55 years old (unless exempted by state/territory nomination)
Have at least 2 years of business management experience within the last 4 years.
The business must have an annual turnover of at least AUD 750,000.
Personal and business assets totaling at least AUD 1.25 million that can be transferred to Australia.

Applicants must also score at least 65 points on the Department of Home Affairs points test.

Can 188A Visa holders apply for permanent residency in Australia?

Yes. After maintaining a lawful business in Australia for at least 2 years and meeting requirements regarding turnover, investment, employment, and residency, 188A visa holders can apply for the 888A Visa. This is a key step toward becoming a permanent resident in Australia, paving the way for long-term settlement and eventually eligibility for Australian citizenship.