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

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

This visa is for those with a successful business or investment career, as well as a realistic commitment to invest or conduct business in Australia, and who are willing to invest at least $1.5 million in the country over four years.

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

To qualify for a Business Innovations and Investment Visa (188B), you must:

Be invited (either you, your partner, or you and your partner) to manage your investments for at least one of the past five fiscal years. Also,

- Your total investments must be worth at least $1.5 million, or

- You must manage a qualifying business where you owned at least 10% of the total business

Have a net value of at least AUD $2.25 million for the past two fiscal years

Receive at least 65 points in an Innovation Points test

Once you acquire a 118B visa, you can qualify for a permanent 888B visa by:

Holding a current 188B visa

Meeting Australia's health and character requirements

Living in Australia for at least two of the past four years

Investing at least $1.5 million in designated investments in the past four years

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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