Investing first then becoming an Australian permanent resident with a Subclass 188A visa
Despite business purposes, many people tend to choose a Subclass 188A in order to become a permanent Australian resident or to sponsor another family member to Australia. With a low standard investment and amazing benefits, a Subclass 188A may be worth considering to many businessmen.
What is a Subclass 188A?
This is a temporary visa for investors to come to Australia to do investment and/or business by buying an existing business(es) or establishing a new one(s). It is a great potential opportunity for them to live, study and work in such a wonderful country.
Holding this visa also allows you and your family members to become permanent residents by applying for a Subclass 888A if you meet the requirements.
The benefits of an Australian subclass 188A visa
With a Subclass 188A, applicants can:
- Operating a new or existing business(es) in Australia.
- Staying in Australia for up to 4 years and 3 months.
- Being able to bring your eligible family members with you.
- Applying for a Business Innovation (Permanent) Visa Stream if you meet certain requirements.
The requirements of a Subclass 188A visa
You cannot directly settle down in Australia with a 188A visa. But after holding this visa, if you meet the requirements, you can absolutely have the opportunity to apply for a 888A visa for permanent residence.
Under 55 years old at the time of the visa lodgement.
Applicants must be nominated by a state/territory government in Australia to come to Australia. Clients using VEM’s Australian visa services will not have to worry about this issue.
|Own a business||
Applicants must score at least 65 points.
|Health and character||
Meet the health and character requirements of the Australian Government.
|Where to lodge a visa||Depending on your situation, you can apply for it onshore or offshore.|
|Where to receive a visa|
If you find yourself eligible for an Australian Subclass 188A visa, please continue to see the information below. In case you consider yourself not eligible, please contact VEM! Maybe you already meet the requirements for a Subclass 188A visa, you just didn’t check properly.
At VEM, you will be consulted and assessed by our migration specialist – Mr. Phong Cao. Phong Cao has been an Australian investment consultant for over 10 years and has helped many clients successfully apply for visas. So he has the ability and experience to accompany you on your investment journey to Australia.
In addition, you may refer to a Subclass 188B visa.
The requirements of a Subclass 888A visa
After applying for a Subclass 188A visa and after you’ve met all the requirements from the Department of Home Affairs, you can start your visa application for a Business Innovation and Investment (Permanent) visa – Subclass 888A.
Have resided in Australia for at least 1 year in the last 2 years from the time of applying for a Subclass 888A visa.
|Operate a business||
During the 2 years prior to applying for the 888A visa, the applicant must:
In the year before applying for a visa, the turnover of businesses must reach at least 300,000 AUD (can include businesses of spouses).
|Property and Staff||
Within 1 year before applying, the applicant (can include spouse) must meet at least 2 of the 3 following requirements:
|Be nominated||Applicants need to obtain a new nomination from the state where they are investing.|
|Commitment||Applicant commits to continue doing business and investing in Australia.|
Have no debt to the Australian Government. If so, it must be refunded before submitting the application.
For more information about the requirements of the Subclass 888A visa, contact VEM today. Our professional migration consultant who is licensed by the Australian Government (MARN: 1577877) will support you to make sure you are eligible for this visa.
How to get migration points for a Subclass 188A
|Age||From 18 to 24 years old.||20|
|From 25 to 32 years old.||30|
|From 33 to 39 years old.||25|
|From 40 to 44 years old.||20|
|From 45 to 54 years old.||15|
|Over 55 years old||0|
|English level||IELTS 5.0 or higher||5|
|IELTS 7.0 or higher||10|
|Graduate with a Bachelor’s degree in business, science or technology from an Australian institution/recognised educational institution.||10|
|Asset||Total personal and business assets of the applicant and his/her spouse in the last 2 financial years:|
|From 1,250,000 AUD and over||5|
|From 1,750,000 AUD and over||15|
|From 2,250,000 AUD and over||25|
|From 2,750,00 AUD and over||35|
|Business revenue||In 2 out of 4 financial years prior to the time of application, annual business revenue of the enterprise:|
|From 750,000 AUD and over||5|
|From 1,250,000 AUD and over||15|
|From 1,750,000 AUD and over||25|
|From 2,250,000 AUD and over||35|
|Total investment||Prior to applying for a visa, the applicant must have owned at least AUD 250,000 in investment funds:|
|More than 4 years||10|
|More than 7 years||15|
|Has registered for a patent at least 1 year before.||15|
|Has registered a trademark 1 year ago.||10|
|Applicants are always directly involved in business management for at least 1 year before applying for a visa.||5|
|The applicant’s shares are equal to or more than 50% of the company’s annual turnover from the export trade.||15|
In the last 5 years:
|Certifications||A state or territory government in Australia certifies that the applicant’s business is the only entity of particular interest to the region.||10|
VEM clients will be consulted by experts to accumulate points from the very beginning.
Step-by-step of a Subclass 188A visa
- Step 1: Preparing your documents.
- Step 2: Applying for nomination of the Australian state or territory government agency.
- Step 3: Submitting your Expression of Interest (EOI) after receiving the nomination approval.
- Step 4: Applying for a Business Innovation Visa Stream when receiving the invitation.
- Step 5: Being granted a Subclass 188A Visa.
How to prepare for your Subclass 188A visa documents
Proof of business ownership
The applicant provides proof of owning a business, such as:
You can schedule a consultation with VEM for a complete list of required paperwork and documents!
|Running the company
|Provide evidence demonstrating the continuity of direct management and business direction for the enterprise.
These proofs must be within 2 out of 4 financial years before the nominated applicant submits the visa application.
Proof of the originality of the assets
Applicants must provide documents proving their assets are transparent such as:
Providing proof of the above documents is not easy. In fact, many entrepreneurs take lots of time to prepare the documents because the information provided is not clear and convincing enough. Therefore, VEM’s migration consultant are always dedicated to guiding and supporting their clients.
|Proof of business loss (if any)||If the business is at a loss or is no longer able to pay, the applicant needs to describe this in detail.|
Provide proof of your eligibility.
|Documents for accompanying person (if any)||
If your application does not include any of the above documents, please quickly add them to the application. In case you aren’t confident in making an application, come to VEM for advice and support from consultant – Mr Phong Cao – a member of the Migration Institute of Australia (MIA: 12648).
The cost of a Subclass 188A visa
The visa application fee is 6,085 AUD (not including 1.4% surcharge) for the main applicant. There is an additional fee for each family member who applies for this visa with you:
- Additional applicant who is over 18 years old: 3,045AUD (not including 1.4% surcharge).
- Additional applicant who is under 18 years old: 1,520AUD (not including 1.4% surcharge).
Furthermore, each applicant who is at least 18 years old and does not meet the functional English requirements. This fee is also called a second instalment which you are required to pay before the visa is granted.
- Main applicant: 9,795 AUD (not including 1.4% surcharge).
- Family member: 4,890 AUD (not including 1.4% surcharge).
Any kind of refund is impossible when your application is rejected. Additionally, when the Department of Home Affairs doesn’t approve your visa for the first time, any visa applications in the future will be much harder and much more complex.
How to stay in Australia when the Subclass 188A visa expired?
During 4 years and 3 months of holding an Australian subclass 188A visa, you need to meet visa requirements of a Subclass 888A visa. But if not satisfied, you can renew the Subclass 188A visa once to continue to temporarily reside in Australia and accumulate more.
The total time you can stay in Australia with 2 times of holding a Subclass 188A visa is:
- 8 years: if you are eligible for preferential policies because of the Covid-19 pandemic.
- 6 years: if not affected by the Covid-19 pandemic.
If you are a VEM’s client, your entire Subclass 188A visa application journey is always accompanied by VEM to remind you of the conditions that you need to meet. This helps you limit the renewal of the Subclass 188A visa.
The processing times of a Subclass 188A
The DHA said that normally, a Subclass 188A visa applicant will wait about 2.5 years to receive the application results.
|75% of the applications||31 months|
|90% of the applications||33 months|
Moreover, your application might take longer if you are misleading and do not include all the documents that are required or fill it in the wrong way. It takes the DHA longer to verify your information. Your processing could also not be done by paying the wrong application charge.
VEM will help you step by step with your documents, fees and applications. Do not hesitate to contact us for help. It is our pleasure to assist you!
Clients successful story
Clients applying for a Subclass 188A visa with VEM always receive more than just a visa. For example, Ms. Thu Giang Nguyen – a client accompanied by VEM, is now preparing for the final stage of applying for a Subclass 888A visa.
Listen to her experience during the visa application process in the following video.
If there’s any further questions, don’t hesitate to leave a comment or call our hotline. VEM will contact you as soon as possible.