Business Innovation Stream (Subclass 188A)

This visa is a 4 years 3 months temporary visa designed for applicants who plans to operate a new or existing business. Applicants who establish a qualified business in Australia will be eligible to apply for a permanent visa.

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Note: To be eligible for subclass 888 visa, applicants are required to establish and operate a qualified business for at least 2 years (before visa application) with annual turnover of at least AUD300k and satisfy 2 of the following requirements at least 12 months before application: a) net business assets of at least AUD200,000; b) personal and family net assets of at least AUD600,000; c) hire at least 2 full-time eligible employees in applicant’s main business.

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Eligibility:

• Obtain state / territory nomination

• Under 55 years old (If older, need to demonstrate exceptional economic benefit)

• Own personal and business assets (including applicant and family) of at least AUD1.25 million

• For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD750,000 turnover in each of those 2 years. The applicant must own at least 30% ownership (10% if the business is a public company)*

• Be able to score 65 points or more

• Have a successful business career

*Additional requirements might apply to some states

 

Be able to bring family members：Spouse and dependent aged below 23 years old

Processing time：around 12 months (Hong Kong passport holders are prioritised)

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