Business Innovations and Investment Visa(188A)+permanent Visa(888A)

Business Innovations and Investment Visa (188A) and Permanent Visa (888A)

This visa is for those with a successful business of investment career, and a genuine and realistic commitment to becoming involved in Australian investing or business.

The 188A visa is the first step to qualify for a Permanent 888A visa.

To qualify for a Business Innovations and Investment Visa (888A), you must:

Be under 55

Have a successful business career

Be invited to apply

Hold at least AUD $800,000 in net personal and business assets, with a total annual turnover of at least AUD $500,000 in at least two of the past four fiscal years before being invited to apply

Have taken shares in companies with a total annual turnover of at least AUD $500,000 in at least two of the past four fiscal years, and participated in their management.

Own at least

- 30% shares in an unlisted company, or

- 10% shares in a listed company

Hold a 188A visa

Meet Australia's health and character requirements

Be sponsored by either an Australian State or Territory government

Have owned at least

- 51% of a business with a turnover of less that AUD $400,000 per annum, or

- 30% of a business with a turnover of more than AUD $400,000 per annum, or

- 10% of a publicly-listed company

Meet at least two of the following requirements:

- Have owned a business in Australia and have a personal net worth of AUD $600,000

- Have owned a business with a net value of at least AUD $200,000

- Have hired two full-time Australian staff

Also, in the 12 months prior to your application, your business's annual turnover must be at least $300,000 (GST excluded).

For more information, visit the Australian Department of Home Affairs website:

http://www.homeaffairs.gov.au/Trav/Visa-1/188-

Please note: Any application, notarial, translation, visa, inspection, and Tsinghua certification fees, as well as any other third-party related expenses, will need to be paid separately. Also, the cost of applying for this visa varies on a case-by-case basis.

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