Generally, you are required to first obtain the 188 visa, and then after meeting the requirements about 2 years later, apply for the permanent 888 visa.
You must first be nominated by a State or Territory government, for both the 188 business visa and the 888 business visa, hence we must also ensure that their requirements are met.
There have been significant changes made for business and investment visas in recent years, and hence a detailed review of your business and personal profile must be made to ensure eligibility.
Business and Investment Visas
This is the most common option for those wanting to migrate to Australia using a business investment visa.
This business innovation visa stream allows you to establish a new business or purchase an existing business in Australia and then use it to obtain permanent residency.
Your eligibility for this visa is tested on your current business and personal profile, where your net assets and business turnover among other aspects are thoroughly analyzed.
If you are a skilled investor with a portfolio of more than AUD2.5 million, you may be eligible for this business visa.
The business investment visa allows you to invest at least AUD2.5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
It must be invested in the following proportions:
- at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least AUD1.25 million in managed funds
If you have over AUD5 million and are willing to invest in Australian investments, this is the best pathway for permanent residency.
The AUD5 million must be invested in the following proportions as part of this business visa process:
- at least AUD1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least AUD2.5 million in managed funds
This significant investment visa has the least requirement for permanent residency and hence is favoured by those who are eligible.
The subclass 888 business visa is a permanent business investment visa usually for those who have settled and maintained their business and investment activities in Australia for at least two (2) years.
The requirements for the 888 visa will follow the stream that you held for your 188 visa, and hence will vary.
Just like the 188 business visa, you must be nominated by the State or Territory government, and hence we must review their requirements carefully to determine eligibility.
If you are not eligible, it may then be best to consider the business visa 188 extension stream to gain more time.