Since 2012, the Australian Business Innovation and Investor Visa (188 temporary residence visa) or the Talented Businessman (Visa 132) has replaced most of the previous business immigrant visas. For 188 visas, there are four main categories, each developed according to the business characteristics of the entrepreneur or investor, each of which may result in a LEGAL permanent visa.
All applicants must not engage in illegal business or investment activities.
Purpose of business immigrant visa
The program is designed to increase the attractiveness of entrepreneurial talent and diversify the Australian economy. It is oriented towards the number of settlers with successful business or investment history who can contribute to the overall development of the Australian economy.
The investment program was created with the goal:
- Creating jobs
- Promote import and export of goods and services
- Introducing new, improved technology, increasing competition and commercial activities
- Connect with the international market
- Promote diversification of the economy
The Business Innovation & Investor visa includes three main categories
- Direct permanent residence: Talented Business Visa (Visa 132)
- Temporary Residence: Innovation Business & Investors (Visa 188)
- Permanent Resident: Innovation Business & Investors (Visa 888)
Most entrepreneurs settled in Australia on a 2-stage Temporary Stay (TR) - Permanent Resident (PR). The Temporary Stay visa is valid for a maximum of 4 years, after you have met certain requirements for doing business in Australia or investing, you can apply for permanent residence (PR). In addition, if you can prove your experience and successful business history, you can apply for permanent residence directly (Visa 132).
Main types of Temporary Stay Visa
- Innovation Business: Entrepreneur owns at least one business in Vietnam, wishes to establish and operate a new business in Australia
- Investor: for investors who want to invest AUD 1.5 million in Australian Government bonds for a minimum of 4 years
- Critical Investors: for investors wishing to invest a minimum of AUD 5 million in a qualified Australian portfolio
With each immigrant visa category for Business Innovation and Investors, there will be certain requirements before being able to apply, to determine what type of residence you are suitable for, as well as investment plans. To ensure the ability to receive permanent residence, limit risks, you can discuss directly with Absolute Immigration, we will have a plan for you and your family.