188A – Business Innovation StreamThis is a stream of subclass 188 which is a temporary business visa which will allow you to transition to permanent visa (subclass 888) once you are eligible, this visa allows you to operate a business in Australia. You will need to score an EOI score of 65 points for the business points test. You will be able to stay for 4 years and 3 months after your visa is granted. You must own 51% of the total value of a business if the turnover is less than AU$400,000 per year or 30% of the total value of a business if the turnover is more than AU$400,000 per year or 10% of the total value of a business if the business is operated by a publicly listed company.
Subclass 188A – Business Innovation Stream Visa Checklist:Note: all documents must be in English, all non-English documents have to be NAATI translated.
Personal Identity documentsHover or Click
You will need to prepare your personal identity documents such as passport, birth certificate, national ID, birth certificate, etc…
Business & Assets DocumentsHover or Click
These documents should show your business career and intention in Australia and evidence of the amount of assets and value of the business
Points Test DocumentsHover or Click
These will include the documents included in the points test criterias that you are claiming such as English level, qualifications, financial assets, etc…
English Language DocumentsHover or Click
You need to submit the English test report that shows at least a functional level of English.
Police CheckHover or Click
You need to submit a police check from every country that you have lived in for at least 12 months.
Form 80Hover or Click
You need to complete a form 80 and submit it to the department so that the department know better about your history, qualifications, and work experience.
Health CheckHover or Click
The department will request a health check and you will need to book a session of health check with the provided HAP ID.
188 – Business Innovation Extension StreamYou can apply for 188 – Business Innovation Extension Stream if you need more time into making yourself eligible for subclass 888 application. You will need to provide the same documents for subclass 188A but they will need to be updated with the additional information from the duration of 188A. You will need to demonstrate why you will need the extra time other than getting a permanent resident, you need to maintain the ownership interest in your main business(es).
Transition To Permanent Resident (Subclass 888)In order to able to transition to permanent resident, you will need to satisfy the following requirements 2 years immediately before you apply:
- Continue to own the interest of up to two businesses in Australia
- Direct management role in in the owned business(es)
- Submitted business activity statements to ATO
- Have ABN for each of the businesses
- Own at least 51%, 30%, or 10% of the total business value depending on the turnover per year
- Have the turnover of AU$300,000+ per year
- You will need to satisfy the two of the following: assets of AU$200,000 from your main business(es) in Australia, net value of AU$600,000 personal or business assets in Australia, at least 2 full-time employees in your main business(es)
- Your employee must be an Australian citizen, Australia permanent resident, or a New Zealanders holding a valid visa.