Mục lục (Contents)
Visa 188A – Creative Entrepreneur
– Belongs to the Business Innovation stream (Business Innovation stream)
– Is a temporary resident visa with a temporary stay of 5 years and needs to meet the conditions to apply for Permanent Residence (PR).
– For entrepreneurs, major shareholders of businesses with revenue from 750,000 AUD (about 14 billion VND) who want to do business, do business and settle in Australia.
Visa 188A to settle in Australia
Requirements – Visa 188A:
- Under 55 years old (exceptions exist)
- Have a convincing business investment plan in Australia and get a guarantee from the State successfully.
- Own and operate one or more eligible businesses under Australian immigration law.
- Have a successful business management career.
- Your business has achieved a minimum turnover of 750,000 AUD (applicable from 1 July 2021) in 2 of the last 4 years.
- Accumulate net worth of at least AUD 1.25 million (applicable from July 1, 2021).
- Pass the Australian government’s 65-point rating scale, applicable from July 1, 21. Applications lower than 65 points and reaching a minimum of 55 points still have a chance and need to meet some special conditions to successfully apply for a 188A visa.
Conditions for permanent residence 888A from visa 188A:
- Invest in one or more businesses that are eligible under Australian immigration law in the Australian State that has sponsored you with a capital of at least AUD 200k (depending on the requirements of each State)
- Invest and run a business in Australia for at least 2 years.
- Generate a minimum turnover of AUD 300,000 in the last 12 months before applying for permanent residence 888A
- Hire 2 Australian workers or transfer total assets to Australia at least 600,000 AUD (depending on the requirements of each State: note VIC, South Australia has its own conditions)
- Meet the minimum Federally required time of stay: 12 months in the 3 years prior to applying for permanent residency 888A and/or State (allowed to apply “Role Swap” meet the applicant’s conditions)
Benefits of Visa 188A::
- Visa 188A is a 5-year temporary visa with conditions for permanent residence
- If you have made the investment and business commitments as required by the original visa, you will be eligible to apply for a subclass 888A permanent resident visa.
- If needed, you can be allowed to extend your visa for another 2 years, so a total of 7 years to make the initial business investment commitments.
- Children can study for free in grades 1-12.
- Freedom to study, work and do business in Australia.
Note:
- Applying for a business or investment visa in Australia is a complicated process and determining whether you have a high chance of getting a visa or not may not be simple. On the other hand, you are most likely eligible for more than one visa category.
- So, if you want to check and properly assess the level of your application, or you want us to assist you in setting up a settlement application, please make an appointment for a consultation.