Benefits
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Applicants and family can come to live, study, work and do business in Australia during the visa is issued
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Be able to establish a new or develop an existing business and/or invest in Australia
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Travel in or out of Australia for the length of the visa
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Seek permanent residence by applying for the Business Innovation and Investment (Permanent) Visa 888
About Business Innovation & Investment Visa (Visa 188A)
The provisional Business Innovation and Investment visa (Visa 188A) is part of the Australian government’s Business Innovation program to attract successful entrepreneurs & investors from around the world to immigrate and grow businesses in Australia.
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Investor and family members (spouse and children under the age of 23 at the time the visa is issued) will be granted a Temporary Resident Visa (Visa 188A) for a period of more than 4 years (and can be extended for another 2 year)
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While holding the 188A – Temporary Resident Visa, applicants need to meet the additional requirements for doing business in Australia before they can apply for the 888A – Permanent Resident Visa
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The advantage of Visa 188A is that the assets and revenue conditions of businesses in Vietnam are easier to achieve than the other types of Visa
188A/888A
BUSINESS INNOVATION & INVESTMENT VISA
Visa 188A Requirement
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Primary applicant under 55 years old
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Present business plan to state or territory governments
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Nominated by a state or territory government
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Directly involving in the main business management and having successful business career
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Combined business and personal net assets of the primary applicant and the spouse is no less than AUD $800,000 before the visa application
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Main business achieving annual turnover of no less than AUD $500,000 for at least two financial years in the past 4 financial years immediately before the visa application
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Achieving no less than 65 points in the Business Visa Point Test
From Visa 188A To Visa 888A
Conditions for applicants
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Holding Visa 188A as the principal applicant, having been in Australia for at least 2 years for a period of 4 years
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Direct management of legal business in Australia for at least 2 years
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Get a sponsorship/nomination by the state prior to applying for a visa
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In the 12 months before applying for Visa, minimum turnover reached 300,000 AUD/year and the applicant or/and wife/husband have 2 of the 3 following conditions:
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Total net assets in the Australian business to reach at least 200,000 AUD
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Total personal assets (including wife/husband) in Australia at least 600,000 AUD
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Use at least 2 local employees to work full time at Australian business
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