Migrate to Australia as Business Investor through Subclass 188 Visa
Hey there! If you are a business enthusiast packed with entrepreneurial spirit to set up your business in Australia or a business investor with skills to expand your business horizons. Then, we may have a good opportunity for you to explore and fulfil your migration journey. Today, we will look into how you can Migrate to Australia as a Business Investor through a Subclass 188 Visa.
What is the Subclass 188 Visa?
Before we proceed with the application details. Let’s first familiarise ourselves with the 188 Visa First.
Sub-class 188, also called the Business Innovation and Investment visa, is a gateway allowing individuals to temporarily live and work in Australia while allowing them to set up their own business or invest in a business venture.
The facility has been offered for business owners, investors, and entrepreneurs who want to step ahead and contribute to the Australian economy while pursuing their own future business goals in a growthful work environment.
The visa has several distinctions/categories, specific requirements, and eligibility criteria for each, catering to different types of business investors. The streams within it include:
- Business Innovation stream
- Investor stream
- Significant Investor stream
- Premium Investor stream
- Entrepreneur stream
- Business Innovation Extension stream.
This provisional visa is granted for a specific period of time, usually up to four years. The added benefit of this sub-class visa is that under a certain stream, a user may, after meeting certain requirements, be eligible to apply for permanent residency through the Subclass 888 visa.
Let’s take a quick look at what are the different streams of Visa 188.
The Business Innovation Stream is perfect for those who want to establish or develop a new business in Australia. But the condition is that the Business Innovation stream requires investing at least $200k in a new business or purchasing an existing one. It also needs to be viable and benefit the local economy. In addition, it requires applicants to meet points tests assessing their business skills and expertise. It also has a pre-requisite that it should be backed by a state-nominated visa; applicants need support from the regional authority where they intend to establish their business venture.
The Investor Stream is designed for those individuals who can invest $1.5 million in Australian government bonds, managed funds, or shares in Eligible Australian companies. You must invest the funds 90 days before applying for the sub-class 188 visa. Keep that investment for 4 years of the provisional period. Similarly, you must actively manage the investment and be involved in investment decisions.
The Significant Investor Stream is for high-net-worth individuals who agree to invest about $5 million in Australia in eligible Australian assets like government bonds, managed funds or private companies. This offers a provision to apply under Subclass 888 towards permanent residency.
The Premium Investor Stream is an invitation-only application for ultra-high-net-worth individuals, which requires a $15 million investment that can be parked. Premium investments that are allowed need to create jobs and benefit the economy in Australia. This includes things like venture capital and private equity funds. However, it offers the added benefit of a fast-track application for Permanent residency through the Significant Business History visa under Subclass 892.
The Entrepreneur Stream is another good option for people with creative business ideas who wish to execute in Australia. It should be creative, innovative, and one that will positively impact the Australian business scenario. The applicants are required to procure a minimum funding amount of $AUD 200,000. This funding agreement is from a specified funding entity, such as a state or territory government agency, to support their venture in Australia. It would be best to project your business plan, showing that your venture will benefit the Australian economy.
The Business Innovation Extension stream allows existing provisional visa holders of the Subclass 188 visa will fall under the Business Innovation stream to extend their stay and continue their business activities in Australia beyond the initial four-year time period.
To come to a conclusion and, as discussed above, the various streams of sub-class visa 188, if you are still considering migrating to Australia as a business investor, we would highly advise you to try for the Subclass 188 Visa, and it may as well be the right choice. This visa will not just help you set up or expand your business in Australia but also offer you grounds to secure a permanent residency under a few streams. However, we are aware that the process can be complex and challenging to go through. Our advice for you would be to seek professional companies that deal in Australia student visa immigration in Delhi and seek guidance from experts in Australian immigration. They can help you navigate the eligibility criteria better and assist you efficiently throughout the application process with the latest updated information, improving your chances of success. We hope you can Migrate to Australia as a business investor. Good Luck.
Frequently Asked Questions
Q.1 Should I also need to have a certain level of English proficiency for the Subclass 188 visa?
Answer: We are happy that you asked that. While the English proficiency criteria may be a relaxed requirement for all the stream 188 Visa. However, it is needed in some of them, like the entrepreneur stream. Nevertheless, having a good grip on the language is always beneficial. Since it will also help you communicate effectively and integrate into the Australian business environment.
Q: Will I be able to apply for permanent residency after the Subclass 188 visa?
Answer: Yes, for sure. As discussed in the blog, the Subclass 188 visa lays down ways to permanent residency in Australia. Once you meet the requirements, you can apply for PR under the Subclass 888 visa or even under subclass 892, offered for ultra-high-network individuals.