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An important component of the Australian Business Innovation and Investment Program, the provisional Business Innovation and Investment visa strives to boost the economy of the nation.
Australia Business Innovation & Investment (Provisional) (subclass 188) Visa is strictly to be had by invitation only. Prior to being duly invited to file an application, the aspirants would do well to at first file an Expression of Interest (EOI), via SkillSelect. The EOI must mention if the aspirants are keen in the Business Innovation stream or the Investor stream. They must also mention if they are keen in only one or all states and territories. At this time no supporting documents is required.
How useful is the Australia Business Innovation and Investment (Provisional) (subclass 188) visa?
It makes is possible for the candidates to:
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Set up a fresh or expand an already existing business in the country, or make a nominated investment with a state or territory government of the nation;
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Travel in and out of Down Under for a period of five years;
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Have family members go along with them to the country; and
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Request for permanent residency status (subclass 888).
Australia Business Innovation and Investment (Provisional) (subclass 188) Visa Streams
This visa has two streams, namely, The Business Innovation stream and the Investor stream. While the former is for those individuals who wish to own and run a fresh or existing business in the country, the latter is for those who wish to make a designated investment in a territory or state of Australia, and who wish to continue business and investment activity in the country, post the maturing of the original investment.
Australia Business Innovation and Investment (Provisional) (subclass 188) Visa Prerequisites
Visa applications are strictly and only by invitations. For invitation, an applicant must:
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File an Expression of Interest (EOI);
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Have nomination from a territory or state government;
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Be below 55 years;
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Possess a flourishing business and/or investment background;
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Possess sufficient business and personal resources; and
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Possess (for business class) an overall assets of not less than AUD800 000 which have been obtained lawfully and which may be transmitted to the nation lawfully inside 2 years of the visa/permit being proffered;
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Possess (for business class) an overall yearly turnover of not less than AUD500 000 in at least 2 of the 4 financial years, without delay, prior to being duly invited to apply;
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Have (for investment class) an overall worth of not less than AUD2.25 million for the 2 financial years, without delay, prior to being duly invited to apply;
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Have (for investment class) an overall thriving proof of appropriate investment or licensed business activity with nil participation in improper actions; and
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Achieve not less than 65 points.
If interested in making an application under Sub-class 188 immigration Visa, please send an email to ajay@abhinav.com with your city and phone contacts and brief business profile – including business turnover in each of the last 5 years. One of our senior executives will call you up as soon as possible to take forward the assessment and filing process under Sub-class 188 immigration Visa!