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Ownership of a business with turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years
Net personal and business assets of at least AUD 800,000.
Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic contribution benefit.
Meet the pass mark in the Business Innovation and Investment Points test currently 65 points. Points are awarded on:
Age, English language ability, Qualifications
Experience in business or investment
Net personal and business assets, Business turnover
Innovation. Special endorsement
Have an overall successful career in business.
As one of the world’s most dynamic countries, Australia has an immense requirement for skilled talent. Make the most of this opportunity by applying for an Australian Work Visa. Having years of experience in Australian immigration processes, Y-Axis is the perfect consultant to launch your career in Australia.
Australia is one of the world’s most desired migration destinations, with a welcoming culture, vibrant cities, and sunny beaches. Highly-skilled professionals from all over the world come to Australia for its great quality of life and stable economic prospects. An English-speaking country, Australia is easy to assimilate into. Australia has a more cosmopolitan culture thanks to a significant migrant population. The enviable citizen benefits and progressive policies of Australia make it a great destination to settle with your family.
Choosing to be an overseas student might considerably expand your educational opportunities. Foreign universities in the United States, the United Kingdom, or Australia have highly reputed institutions, and these three nations are home to a large percentage of the world’s top universities.
With incredible opportunities to explore, Australia is one of the best destinations for business people seeking newer shores. Australia is a hotbed for talent, and its unique location makes it a regional economic powerhouse.
Australia has Subclass 188 (Australian Business Innovation & Investment Stream (Provisional)) that allows entrepreneurs to establish or purchase a business in Australia. It’s a path to permanent residency that offers incredible benefits to successful applicants.
There are five different types of streams under Subclass 188 Visa, which include:
Two pathways are available for foreign entrepreneurs to set up their businesses in Australia:
It will also be possible to extend your permit for a further 2 years if you have applied and been granted Subclass 188 under the Business Innovation stream.
Y-Axis has a dedicated team to guide investors trying to invest overseas. The experience of the team, combined with our expertise in immigration consulting, makes us your ideal partner to make your business foray in Australia.
Eligibility for the Subclass 188 Visa
Innovation capability: Overseas business with an annual turnover of $1,750,000 or greater.
Age: Under 55 years of age unless the nominating state or territory certifies that you will make an exceptional economic benefit.
Business History: 3 years of business ownership experience listed in the SkillSelect EOI.
Points: 65 points in Australia Points Grid. Meet the passing mark in the Business Innovation and Investment Points test. Currently, you need 65 points to pass. Points are awarded on:
Step 1: Check your eligibility by using Y-Axis Australia Immigration Points Calculator.
Step 2: Arrange all the checklist of requirements.
Step 3: Apply for the Subclass 188 visa.
Step 4: Check your Visa Status.
Step 5: Start your business in Australia.
The processing times for business visa 188 vary from 2 years to 2.5 years depending upon the types of stream you choose and the details of the submission. The below table gives you detailed information regarding the processing time of Subclass 188 Visas:
|Name of the Visa||Processing time|
|Business Innovation And Investment (Provisional)
Visa Subclass 188
|75% Applications||90% Applications|
|Business Innovation Stream Visa||30 Months||33 Months|
|Investor Stream Visa||33 Months||34 Months|
|Significant Investor||11 Months||14 Months|
|Visa||Visa fee for applicants over 18 years||Visa fee for applicants under 18|
|Business visa innovation stream||1,470||730|
|Significant Investor Stream||4,465||4,465|
|Premium Investor Stream||4,725||4,725|
|Code of Conduct||Code Of Professional Conduct|
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