Business Innovation Visa 188A

11th June 2020

With this type of residence, the investor will be granted a temporary business visa in Australia before being eligible to apply to for Permanent Residency. After 2 years the applicant will be considered for conversion to Permanent Residence.

Conditions for applicants:

  • Under 55 years of age
  • Achieve 65 points on the Migration Scale and are guaranteed by the state in Australia
  • The total value of assets and equity in the enterprise (including individuals and businesses) must reach a minimum of AUD 800,000 and must be transferred to Australia within 2 years
  • Minimum percentage of company ownership
    • 51% if the annual turnover is below 400,000 AUD, or
    • 30% if the annual turnover is over 400,000 AUD, or
    • 10% for listed companies, listed on the stock exchange
  • Owning and directly managing a business with a turnover of 500,000 AUD / year (2 in the last 4 years)

Conditions for receiving Permanent Residence (888A)

  • Annual turnover (up to 2 companies) reaches a minimum of AUD 300,000 in the 2 months prior to the date of permanent residence
  • Working capital / company in Australia, directly managing 1 or 2 companies in Australia for 2 years from the date of applying for permanent residence and holding at least:
    • 51% if turnover <400,000 AUD / year
    • 30% if the turnover is> 400,000 AUD / year
    • 10% if the company is listed and listed on the stock exchange
  • Achieve 2 of the following 3 conditions:
    • The total value of capital contribution to the enterprise reaches at least 200,000 AUD in the 12 months prior to the date of application.
    • The total value of the property must be at least AUD 600,000 within 12 months before the date of application
    • Companies in Australia must create a minimum of 2 fulltime jobs for local people
  • No offense, while in Australia
  • Stay in Australia for a minimum of 1 year

For any inquiries

Contact our Vietnam team