The number of people applying for Australian immigration is increasing, and Australia's 188 business immigration is favored by many. So, what is the policy for Australia's 188 business immigration?
The Australian 188 Business Visa is divided into the following five streams:
1. Business Innovation stream (188A);
2. Investor stream (188B);
3. Significant Investor stream (188C);
4. Premium Investor stream (188D);
5. Entrepreneur stream (188E).
I. Introduction to the Australian 188 Business Visa
The Australian 188 Business Innovation and Investment visa is part of the Australian Business Innovation and Investment Program. Holding this visa is the first step toward obtaining the Australian 888 permanent residency visa.
Applicants must submit an Expression of Interest (EOI) through SkillSelect and receive a nomination. This visa includes five streams:
1. Business Innovation stream (188A): Suitable for applicants with business skills who wish to establish, develop, or manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
2. Investor stream (188B): Suitable for applicants who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business and investment activities in Australia. Applicants must be nominated by a state or territory government.
3. Significant Investor stream (188C): Suitable for applicants who are willing to make a complying significant investment of at least AUD 5 million in Australia and wish to maintain business and investment activities in Australia. Applicants must be nominated by an Australian state or territory government or Austrade on behalf of the Australian government.
4. Premium Investor stream (188D): Suitable for individuals willing to make a complying premium investment of at least AUD 15 million in Australia and who wish to maintain business and investment activities in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
5. Entrepreneur stream (188E): Suitable for entrepreneurs who have a funding agreement from a third party of at least AUD 200,000 to undertake a complying entrepreneur activity in Australia or to commercialize a product or service. Applicants must be nominated by a state or territory government.
II. Application Requirements for the Australian 188 Business Visa
To apply for the Australian 188 Business visa, applicants must meet the following conditions:
1. The applicant is nominated by an Australian state or territory government or Austrade on behalf of the Australian government;
2. The applicant receives an invitation to apply for the visa;
3. The applicant (and family members) meets health and character requirements;
4. The applicant meets other requirements for the specific visa stream.
III. Advantages of the Australian 188 Business Innovation and Investment Program
1. Ability to establish a new business or develop an existing business and/or make investments in Australia;
2. Ability to make a designated investment in an Australian state or territory or make and maintain a complying investment in Australia;
3. Ability to travel to and from Australia freely during the visa validity period;
4. Ability to bring family members to Australia, including a spouse and children;
5. Family members can legally study and work in Australia;
6. Ability to apply for the Business Innovation and Investment (Permanent) visa (subclass 888) upon meeting the requirements.