If you are an existing business owner and have decided to own and daily manage your business in Australia, the Subclass 188 Business Innovation (Provisional) visa or 188A and Business Talent (Permanent) visa (subclass 132), Significant Business History or 132A are idea pathways for you and your dependent direct family members to live, work and study in Australia. Both these two visa types are under state nomination and the business investment amount and state nomination requirements may be different in each state. You may startup a new business venture, invest into an existing business or become a franchisee if you invest and manage an eligible franchise business in Australia.
To increase your chance of success in your visa application, your proposed Australian business is related to your past successful business experience in Hong Kong. If you are a senior manager or executive without holding any share equity of your company or companies, you are not eligible either of these two visa types. Moreover, the main applicant must provide enough supporting documents including the sources of funds and the company audited financial statements evidencing the success in managing his business.
188A – Subclass 188 Business Innovation (Provisional) visa
This is a common visa type by which you can invest, own and manage your business venture in any state at your own choice.
- Be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
- Score at least 65 on the points test.
- For 2 out of the 4 fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500,000 turnover in each of those years.
- Invest no less than AUD200,000 or more in your Australian business (each state has its own business investment amount requirements)
- At the time of invitation, you, your partner, or you and your partner combined must have total net assets of at least AUD$800,000 that are lawfully acquired and available for legal transfer to Australia within 2 years of the visa being granted.
After meeting all the residence, business investment and visa requirements, the main applicant and family members may apply for the Subclass 888 Business Innovation (Permanent) visa.
Under the role swapping condition, the spouse of the main applicant may become the main applicant of the Subclass 888 Innovation (Permanent) visa if he / she meets all the visa requirements.
132A – Subclass 132 Business Talent (Permanent) visa, Significant Business History Stream
This is a popular visa type by which the main applicant and all dependent family members get permanent residence once their visas are granted. The main applicant must meet the following two visa requirements as well as other conditions.
- Net business and personal assets of at least AUD1,500,000 that are legally acquired and can be transferred to Australia within 2 years after the visa is granted.
- A total annual turnover of at least AUD3,000,000 in one or more of your main businesses in at least 2 of the 4 fiscal years immediately before you are invited to apply.
Why Invest in Australia?
Australia provides a safe and low-risk environment to invest and do business. The benefits in doing your business in Australia are:
- A resilient economy with sustained continuous economical growth.
- Globally significant industries including various natural resources, commodities and services for import / export, thus giving you lots of business opportunities.
- Smart, enterprising people and highly educated workforce.
- Connected to the world in common English business language, high speed communication networks and international flights to all major trading partners.
- A stable business location which attracts many direct investment by many Global 500 multinational firms and individual foreign investors
The Application Process
Both 188A and 132A have the same initial application steps below, except that 188A is a temporary visa which can be switched to Subclass 888 Innovation (Permanent) visa after the main applicant has met all the business, residence and other requirements.
1. Research and decide upon which industry and business for your investment e.g. startup a new venture, invest into an existing business or become a franchisee of a franchise business, as well as selecting the right state in which you manage and operate your business and family settlement.
2. Engage an experienced registered Australia immigration consultant to give you expert immigration advice and process your visa on your behalf.
3. Execute your business plan as planned with the onshore professional services and support from local business consultants, accountants, tax consultants etc. to meet your business objectives.
John Hu Migration Consulting
Many of our satisfied clients who are existing successful business owners have engaged John Hu Migration Consulting to process their 188A and 132A visa because of the following good reasons.
- John Hu and his professional team have unsurpassed experience and professional knowledge in helping you identify the best business idea which fits you best and increase the chance of success in your state nomination and visa application.
- We help you develop a viable, scalable and feasible business plan which you can execute and achieve your business objectives after your settlement in Australia.
- We arrange you with a well planned business exploratory trip to your nominated state to meet the state business migration manager and potential Australian suppliers, business partners and professional service providers like certified accountant, auditor, business consultant, franchisor to help you startup your new venture smoothly.
- With our excellent business network and strategic partnerships with the state business migration managers and professional business and related services firms, you will have our ongoing onshore business services and family settlement services to enjoy your business growth and family life in Australia.