The 188A: Business Innovation Stream

188A Business Innovation Visa is a stream of Business Innovation and Investment visa. Compared with other business immigration programs, is most suitable for Chinese small and medium-sized business owners and managers of large enerprises. This visa application has relatively relaxed audit requirements, focuses on the company's turnover, does not have high requirements on the amount of investment, and the investment method can be flexible.

Applicants who come to Australia with this stream visa must invest at least $500,000 to set up a business.

An applicant who has established a business in Australia for three years and has lived there for a specified period may apply for permanent residence.

Applicant family requirement：

Applicants under the age of 55 (currently 50 in NSW).

Meet the minimum score of 65 in EOI* Holding at least 30% of the shares in a business with an annual turnover of more than A $750,000 (Sydney area 1.25 million) in at least 2 of the last four financial years.

Applicants should be involved in the daily operation and decision-making of the company and have successful business experience.

The applicants and their spouse have net personal assets of more than A $1.25 million ($1.75 million in Sydney) for investment and settlement.

Has an established business development program in Australia and is recognized by the State Government.

No lousy business record in any country in the past, no bankruptcy or loss record.

Follow-up requirements for Permanent Residence Approval:

Own and manage a company in Australia for at least three years.

The company must comply with the audit requirements of the Australian Immigration Department for tax purposes.

Meet the following requirements:

        - Employ at least two full-time local staff within 12 months before application (new employee)

        - Personal net worth of more than $600,000 in Leah, Australia ($1.5 million in Sydney) in the 12 months before the application

        - More than $500,000 invested in the company in the 12 months before the application

        - Increase turnover by at least 10% or increase business net assets by 25% and exceed AUD 300,000 a year

If applicants want to emigrate to Sydney, they should also transfer their net assets to Australia to more than A $1.5 million, among which the net assets invested in the company should be at least A $500,000. (Net worth can include owner-occupied property)

The capital invested in the enterprise must be invested in fixed assets, equipment, property, intellectual property, and corporate Goodwill.

The principal applicant is involved in the day-to-day management and decision-making of the enterprise.

The applicant has lived in Australia for at least one year in the two years before the application.