What is a subclass 188A visa?
Subclass 188A visa is a temporary visa for overseas entrepreneurs/investors to come to Australia to invest by buying an existing business or establishing a new one. It is a great opportunity to live, study and work in one of the best countries in the world.
The applicants and their family members can apply for a permanent resident subclass 888 visa if they meet the requirements.
The benefits of the subclass 188A visa
|Residence||Staying in Australia for up to 5 years.|
|Business and investment||The applicants are allowed to invest, run a new business or buy an existing business in Australia.|
|Education and working||Working and studying in Australia.|
|Working and studying in Australia||Being able to travel outside Australia and return as many times as they want while the visa is valid.|
|Sponsor family members||Being able to sponsor family members after obtaining PR.|
|Applying for Australian citizenship, if eligible||Permanent resident visa holders have the opportunity to apply to become Australian citizens.|
If you have any inquiries about the Business Innovation Stream, please contact us for more information.
The requirements of the subclass 188A visa
The requirements of the subclass 188A visa (stage 1)
In order to successfully apply for this temporary visa, you must meet the following requirements:
|Age||Under 55 years old at the time of the visa lodgement.|
|Be nominated||Applicants must be nominated by an Australian State before being invited to apply for this visa.|
Owning and directly running a business/businesses for at least 2 financial years.
The ownership percentage in those 2 years must be:
|Net business and personal assets||
|The Australian skilled points test||Applicants must achieve a minimum of 65 points.|
|English||At least 4.5 IELTS, or equivalent (applicants may be asked to pay an additional fee if they do not meet the requirements).|
|Health and character||
|Where to lodge a visa||Depending on the specific circumstances, applicants may be inside or outside Australia|
|Where to receive a visa|
If you believe that you are eligible for the subclass 188A visa, please continue referring to further information below. Otherwise, contact us!
At VEM, our licensed migration specialist – Mr. Phong Cao who has been an Australian investment consultant for many years will evaluate and advise you on the best business/investment visa pathway. With many successful cases and practical experience, Mr. Phong Cao is confident to accompany you for the whole journey.
If you find the subclass 188A visa not attractive enough, please refer to the business innovation and investment visa Australia for further information.
The requirements of subclass 888A visa (stage 2)
|Residence time||Must reside in Australia for at least 1 year in the last 2 years before applying for a subclass 888A visa.|
During 2 years prior to subclass 888A visa lodgement, applicants must have:
|Turnover||One year prior to visa application lodgement, the turnover of businesses must be at least 300,000 AUD.|
|Assets and employees||
|Be nominated||Must have a new nomination from the state where they are investing.|
|Commitment||Must have a firm commitment to continuing their business activities in Australia.|
How migration points for a subclass 188a visa are counted?
Applicants must score at least 65
|Age||18 – 24 years old||20|
|25 – 32 years old||30|
|33 – 39 years old||25|
|40 – 44 years old||20|
|45 – 54 years old||15|
|Over 55 years old||0|
|English level||IELTS 5.0 or above||5|
|IELTS 7.0 or above||10|
|Graduate with a Bachelor’s degree in business, science or technology from a qualified Australian institution/ educational institution.||10|
|Net personal and Business assets||Total personal and business assets of applicants and his/her spouse in the last 2 financial years:|
|Business Turnover||For 2 out of 4 fiscal years prior to the time of application, annual business revenue must be:|
|Business Statement||At the time applicants receives the invitation, the business has been running:|
|More than 4 years||10|
|More than 7 years||15|
|Total Investment||Prior to applying for a visa, applicants must have owned at least AUD 250,000 in investment funds:|
|More than 4 years||10|
|More than 7 years||15|
|Has a registered patent at least 1 year||15|
|Has a registered trademark 1 year ago||10|
|Applicants directly run their business for at least 1 year before applying for the visa||5|
|Applicants’ shares are equal to or more than 50% of the company’s annual turnover from the export trade||15|
For the last 5 years:
|Certifications||A state or territorial government in Australia certifies that the applicants’ business is the only entity of particular interest to the region.||10|
Step-by-step of the subclass 188A visa
Step 1: Considering the possibility of being eligible for this visa.
Step 2: Preparing documents.
Step 3: Applying for a State’s nomination.
Step 4: Receiving a State’s nomination and invitation to apply for the visa.
Step 5: Applying for the visa
Step 6: Receiving visa lodgement confirmation.
Step 7: Providing additional documents if requested.
Step 8: Being granted the subclass 188A Visa.
What must prepare for the subclass 188A visa documents
|Business documents||Business Overview||
|Business Ownership||Applicants provide evidence of ownership of a company, such as:
You can schedule a consultation session with VEM for a complete list of required documents!
|Prove the right to run the company||
|Proof of the originality of the assets||
Applicants must provide documents proving their assets are transparent such as
Providing proof of the above documents is not easy. In fact, many entrepreneurs take lots of time to prepare documents because the information provided is not clear and convincing enough. At VEM, our Migration Specialist will advise and assist you through.
|Proof of business loss (if any)||If the business is at a loss or is no longer able to be paid, applicants need to describe this in detail.|
|English||Provide proof of the applicant’s eligibility.|
|Migration points||Provide evidence of at least 65 points.|
|Documents for accompanying person (if any)||
The cost of the subclass 188A visa
|Visa application charge installments||Visa costs
(not including 1.4% surcharge)
|Over 18 years old||Under 18 years old|
|First installment: the time of lodging a visa application.||9,450 AUD||4,725 AUD||2,365 AUD|
|Second installment: Additional applicants who are 18 years old or older have less than functional English (4.5 IELTS).||9,795 AUD||4,890 AUD||0 AUD|
Any kind of refund is impossible when the application is rejected. Additionally, when a visa is refused, there is not only financial lose, but time and especially opportunities for your whole family!
How to stay in Australia when the subclass 188A visa expired?
During 5 years of holding the subclass 188A visa, applicants need to meet the visa requirements of a subclass 888A visa. But if not satisfied, applicants can renew the subclass 188A visa once to have more time to complete the requirements (only apply for the visa was applied and granted before 01/01/2021).
If you are VEM’s client, your entire visa journey will be accompanied. It is important to achieve your permanent residency as soon as possible.
The processing times of a subclass 188A visa
The applicants will wait for more than 2.5 years to receive the application results.
|75% of applications||33 Months|
|90% of applications||36 Months|
In order to get the best choice for future orientation, investors can refer to information about other types of investment visas such as: subclass 188B visa, subclass 188C visa, subclass 188E visa.
VEM’s customer – Ms. Susan Le has just been granted subclass 188A visa – Business Innovation stream just before the Australian Government increases the requirements. Ms. Diem is now in Australia for the second permanent residence stage.
VEM’s customer who is granted the subclass 188A visa
Clients applying for the subclass 188A visa with VEM always receive more than just a visa. For example, Ms. Thu Giang Nguyen – a client accompanied by VEM, is preparing for the final stage of applying for a subclass 888A visa.
Following her experience during the visa application process in the video below.
VEM’s customer who is granted the subclass 188A visa
Frequently asked questions
What assets can i use to prove that i meet the subclass 188a visa eligibility requirements?
- Valid sources of assets, such as: cash, savings accounts, real estate, loans, stocks or bonds,….
I want to use my real estate to prove property eligibility. my real estate is currently mortgaged at the bank, can i use it for subclass 188a visa financial requirement?
- The answer is yes. But depending on the purpose for which you take a mortgage, the value of the property may decrease. This issue is quite complicated, if you need to find out, you should consult with VEM’s specialist!
I want to settle in Australia permanently via a subclass 188a visa. however, i do not want to run a business in Australia, is there another way to meet the requirements for a permanent visa – subclass 888a?
- Absolutely possible. But keep in mind that the business has never been used for subclass 888A visa purposes.
When you acquire a business, you need to ask the owner of that business to commit to the issue. If you are not secure, contact VEM now!
I am worried that i would not be able to meet the requirement to apply for a subclass 888a visa. so, during the period of holding a subclass 188a visa and doing business, if i can not meet the subclass 888a visa requirements, can i switch to another kind of business?
- A subclass 188A visa is valid for 5 years. And you can only change your type of business in the first 2 years of holding this visa.
The answer is yes. You must be able to prove your assets are legitimate. The way of providing evidence may be different. You can review section 6 for details!
Unfortunately, the answer is no. An applicant must own a minimum of 30% of the shares of the operating company. If you do not own any shares, you should refer to another investment visa.
Subclass 188A visa only requires 4.5 IELTS (or equivalent result). And if you can have a higher English level you can increase your immigration points. You can review part 4 for a better understanding.
You must live at least 1 in 2 years before applying for the subclass 888A visa.
Unfortunately no until you become a permanent resident.
It depends on your actual situation. VEM needs more information for accurate advice. Please call VEM’s hotline and schedule a consultation.
Of course yes. You can go in and out Australia within the duration of your visa.
Lots of entrepreneurs/investors apply for this subclass 188A visa this year. You should complete and submit the application as soon as possible. If you need help from our licensed migration specialist – Mr. Phong Cao, contact VEM now! Moreover, we have a preferential program for this investment visa!