Business Visa Subclass 188 – Eligibility Criteria, Requirements, Processing Time

About 188 (Provisional) or Business Innovation and Investment Visa –

Foreign nationals who intend to invest in Australia, operate a business there, or launch a new venture are granted the temporary Business Innovation and Investment Visa subclass 188. Business owners and investors who want to start operations in Australia can apply for it. The four-year visa is valid.

Before applying for a business visa (188), you need to be invited and have a certain quantity of personal and business cash. Today, we discuss the details a person applying for this visa needs to know.

Eligibility Criteria

Embarking on the journey towards the Business Innovation and Investment Visa, Subclass 188 (Provisional) through the Victorian Business Innovation stream demands meeting specific eligibility criteria. Only those nominated and meeting the Australian State’s needs can apply for the 188A visa. The applicant must submit an Expression of Interest (EOI) system to be considered for nomination. To qualify for visa nomination, you must:

• You must be younger than 55.
• Before receiving an invitation, you must be nominated by a State or Territory in Australia.
• You must have owned one or more enterprises with at least AUD750,000 in revenue in each of the previous two years to be asked to apply.
• You need at least AUD1.25 million in assets, including personal and company.
• Have a successful career in business.
• To be able to apply, you must receive at least 65 points on the test.
• Must have invested AUD 1.5 million in the state or territory where your visa nomination originated.
• It is required that you possess several profitable assets and a minimum of three years of expertise managing a business or investments.

Read More – Requirements for Subclass 888 Visa Streams

Required Documentation and Proof –

Embarking on business endeavours in Australia becomes a reality through the Business Innovation stream visa, tailored for individuals wielding valuable business skills. Grasping the nuances of its features and eligibility criteria is paramount for a seamless application process. This is the key information required for your visa subclass 188 visa:

Key Features:

• Stay Duration: Up to 5 years.

Processing Time:

188 visa processing time Depends on individual cases. Utilise the website visa processing time guide tool for more information on your processing time.

Visa Benefits:

1. Business Operation:

Establish and operate a new or existing business within the Australian landscape.

2. Family Inclusion:

Extend the journey to eligible family members.

How Do I Submit a Business Visa 188 Application?

You must take these two actions to apply for this visa:

1. Use ImmiAccount to apply online:

Create an ImmiAccount and send in the necessary fee along with the visa application if you don’t already have one. Your application will not be processed if the appropriate fee is not paid.

2. Apply by Mail:

You can mail your documents to Australia’s Business Skills Processing Center once you’ve completed paying and filling out the visa application. Learn more about document preparation.

What Occurs if the Application Is Turned Down?

If your application is denied, you will be notified of the reasons why. If the case officer made a mistake, you have the right to request a review of the decision. Any written request for reconsideration must include an explanation of the incorrect decision.

Immigration officials will only reevaluate the original documents that were submitted with the application if it is decided to review the ruling. If you have a new business plan in the meantime, you will need to begin the application process again. You will need to obtain another invitation to apply for the ACT 188 nomination.

Conclusion

Keep in mind that business migration can be very complicated, and it can be challenging even to determine if you have a reasonable chance of being accepted. Furthermore, you can be eligible under several distinct business migration categories. Get in touch with the Immigration Department for further details and contact a Business Visa Lawyer Perth WA if necessary.