The innovation business investment stream 188A is an investment stream which the applicant will directly conduct business or operate a business in Australia, so the conditions of this stream also require management experience, property ownership, as well as certain corporate shares

Business Innovation Stream – 188A – designated by the state government, requires Applicants to:

• Have been nominated by an Australian State or Territory Government before receiving an Invitation to Apply from the Australian Department of Immigration
• At the time of receiving an Invitation to Apply from the Department of Immigration, the Applicant or his/her spouse, or both, must have a combined net personal and business net worth of at least AUD 800,000, the money is a legal purchase and is available for transfer to Australia within two years of the date of the regulation 188A visa
• Having business ownership, in which:
  • Have 2 of the 4 financial years immediately before receiving an Invitation to Apply from the Australian Department of Immigration, the applicant must have an ownership stake in 1 or 2 businesses with a turnover of at least AUD 500,000 in each of those 2 years
  • In 1 or 2 businesses, the Applicant must own at least:
    • 50% with sales less than AUD 400,000
    • 30% if turnover is over 400,000 AUD
    • 10% if the business is listed on the stock exchange.
  • The main applicant must score at least 65 points on the Australian Immigration Department’s migration scale (points are calculated when applying for the initial application).
  • Have a successful business career and a serious desire to continue owning or managing a business in Australia
  • Under 55 years old
  • No IELTS is required if the Applicant can demonstrate completion of high school

In addition, the Applicant and family members need to meet other criteria such as: have a good criminal record and health, have no debt to the Australian government, and have never been canceled or refused a grant of visa while staying in Australia before…

With this option, the initial temporary resident visa is valid for 4 years and 3 months and can be extended for another 2 years. In order to convert to a 5-year permanent residence (Subclass 888), in addition to the business requirements, the applicant must ensure to maintain a residence in the nominated province in Australia and must be present at least 01 year in 02 years before applying.