188A Business Innovation and Investment (Provisional) Visa, and 888A Business Innovation and Investment (Permanent) visa
From July 1, 2021, the threshold for applying for a Visa 188A will be raised. The clients who meet the requirements should apply as soon as possible before 30 June 2021.
188A business innovation and investment provisional visa is designed to attract small and medium-sized business owners with genuine innovation capabilities and successful business backgrounds to come to Australia for starting and operating businesses（investment and creating job opportunities）. Visa 188A is a temporary visa for four years and three months. After the applicant is granted for Visa 188A, he/she will go to Australia to do business for 2 years and participate in the daily management of the company. When meeting certain requirements, Visa 188A of can be transferred to Visa 888A business innovation and investment permanent residence visa.
If the applicant obtains the visa after applying for 188A after July 1, 2021, it will be a 5-year temporary visa.
Australian Visa 188A is the visa category that requires the lowest personal assets of the applicant among all business investment immigration visas. No mandatory requirements for academic qualifications and English. It is very suitable for domestic medium and small-sized business owners and shareholders. But it needs to be scored through the commercial selection system (at least 65 points). Visa 188A visa is the highest cost-effective category in Australian business investment immigration visas.
888A business innovation and investment permanent residency visa is the visa category that an applicant who holds an Australian Visa 188A can apply for a permanent residency visa in Australia after operating a business in Australia for two years and meeting relevant conditions such as assets.
For Visa 188A obtained after July 1, 2021, you can apply for a permanent residence visa (888A) only after operating a business in Australia for three years.
We know that Visa 188A is a temporary residence visa, and it does not achieve the real migration purpose. Only obtaining Visa 888A permanent residence visa can be regarded as successful migration.
1, The full and formal name of Visa 188A is Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream.
2, The full and formal name of Visa 888A is Business Innovation and Investment (Permanent) visa (subclass 188) in the Business Innovation stream.