Business Innovation and Investment (Permanent)Subclass 888 Visa

Business Innovation and Investment Residence subclass 888 visa is a second stage visa of business innovation and investment program.

Salient Features

• This visa is granted on fulfilling preconditions of temporary visa under subclass 188
• There are 2 categories in this visa
• Business owners for those who own and run their visa in Australia
• Investors who have sustained investment in the qualified venues and specified region of Australia and have strong intent to maintain their investment in the country after the maturity of original program goals
• You can
• Own and run business or investment permanently in the country
• Live and work permanently
• Include family members

Pre-requisites Require for Subclass 888

• Must be holder of temporary business innovation and investment visa
• Have been sponsored by Aussie province or region
• Have fulfilled all pre conditions of original temporary arrangement
• Have fulfilled category specific requirements like
• Business innovation
• Created atleast 2 full time jobs for Aussie citizens or Permanent residents or NZ passport holders
• Played an active role in management of main business (or 2 main stay) established for a minimum of 2 years preceding to application
• Have complied with all statutory and regulatory requirements for each of establishments
• In a year preceding to application achieved
• A turnover of a minimum of AUD 300000
• A net business asset value of AUD 200000 of main (or 2 mainstay) business and a net business and asset value of AUD 600000
• Owned share of the establishments in specified ratio pattern
• Investor.
• Maintained qualified investment for a minimum of 4 years
• Complied with all statutory and regulatory requirements in relation to your investment
• Intend to continue with investments

Australian Business Visa is an ideal option for anyone looking to establish or buy an existing business in Australia. There are different Australian business visas for eligible applicants depending on their investment needs and the purpose of immigration. The Australia business visa is a perfect pathway to conduct business activities in Australia and live an accomplished life in Down Under.

Australia Business Visa Process and Requirements:

Following are some of the most famous investor visa Australia categories for prospective foreign entrepreneurs planning to expand their Australian business.

Business Innovation and Investment (Provisional) visa (subclass 188)

The Business Innovation and Investment (Provisional) visa (subclass 188) has five streams available. Out of five, four streams require applicants to be nominated by the state or territory government. They are described below:

Business Innovation Stream (Subclass 188)-It's a provisional visa for candidates with commendable business skills looking to establish a new business or buy an existing business in Australia. A state or a territory government must nominate you to have this visa.

Business Innovation and Investment (Provisional) Visa (Subclass 188) Investor Stream- A provisional visa for high net worth individuals capable of making a designated investment of at least AUD 1.5 million in any Australian state and conduct business activities in Australia.

Significant Investor Stream- Designed for people willing to invest at least AUD 5 million into complying with substantial investments in Australia and maintaining the business in the country. The applicant must be nominated by an Australian State or Territory government agency or Austrade for an

Entrepreneur Stream- For business individuals who have secured a minimum of AUD 200000 from a designated funding body to facilitate Australia's investment activities. You must be nominated by a state or territory government.

Business Talent (Permanent) visa (subclass 132)

Significant Business History Stream- for high-caliber business owners who want to do business in Australia. The visa category requires you to get a nomination from a state or territory government.

Venture Capital Entrepreneur Stream- A permanent visa stream for individuals who have secured venture capital funding from one of the designated members of AVCAL to start their business in Australia.

Australia Business Visa Eligibility Criteria:

To be eligible for a business visa Australia, you must be:

• Below 55 years of age
• You must score at least 65 on the Department of Home Affairs' points test in SkillSelect.
• You must have a Vocational level of English (or equivalent).
• Have a minimum of three years' experience in managing the eligible business or the qualified investment
• Able to present a successful track-record of qualifying business activity or management of an eligible investment.
• Genuinely interested in owning and maintaining a typical management role in the business located in Australia.

How to apply for an Australia business visa from India?

All eligible applicants must apply for a state nomination before making any formal application for the business visa. Applying for a state nomination is a three-step process.

Step 1: Lodge an Expression of Interest to the Department of Home Affairs Australia through SkillSelect and select your preferred Australian state for the nomination.

Step 2: Submit an official application for the state or territory nomination. You must register as a user first and then complete the application process. You will need to submit the following documents:

• Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream Nomination Conditions form
• Appointment of an Agent/Representative form (if applicable)
• If you propose to undertake export or eCommerce activity
• Evidence of your relevant academic qualification/s
• Evidence of your business experience
• Evidence of your English language competency

Step 3: Lodge a formal visa application if nominated by your chosen state. In this stage, an automatic invitation will be sent to your email ID by SkillSelect, requesting you to submit an official application for the visa. You must respond to the request within 60 days of receiving the nomination.

Even if you seek more information about Canada Immigration you can write an email on ssbagga.multilinetravels@gmail.com and one of the most experience immigration consultants will get in touch with you to help you out with your questions and concerns or you can also choose to call us on +91-81461-65577