Eligibility Criteria
In order to apply for the Australian 188B visa, there are certain eligibility criteria that must be met. Firstly, applicants must be nominated by an Australian state or territory government agency. The visa is designed for individuals who are willing to invest in Australia and have a genuine and realistic commitment to becoming involved in business or investment activity in the country. Additionally, applicants must have a genuine intention to live in the nominating state or territory.
To qualify for this visa, applicants must also meet health and character requirements. They must undergo a health examination by a panel physician and obtain a police clearance certificate from every country they have resided in for 12 months or more over the past 10 years. Discover additional pertinent details on the subject by checking out this thoughtfully chosen external resource. https://www.premiervisagroup.com/zh, extra information available.
Investor Options
There are two streams available for applicants interested in the 188B visa: the Investor stream and the Significant Investor stream.
The Investor stream requires applicants to have a minimum net worth of AUD 2.25 million and make a designated investment of at least AUD 1.5 million in Australian state or territory bonds prior to the visa grant. Additionally, applicants must have at least three years of experience managing a qualifying business or eligible investments.
The Significant Investor stream, on the other hand, requires applicants to make a complying investment of at least AUD 5 million in the Australian state or territory prior to the visa grant. This stream is for individuals who are willing to invest and maintain investment activity in Australia and have a genuine intention to continue their involvement in business or investment activity in the country.
Business Innovation and Investment Program
The Australian 188B visa is part of the Business Innovation and Investment (BIIP) program. This program encourages individuals with proven business skills to invest in and develop new or existing businesses in Australia. The program also aims to attract successful business owners who have a genuine and realistic commitment to be involved as owners or part-owners of a business in the country.
The BIIP program offers various visa options, including the 188B visa, which is a provisional visa that provides a pathway to permanent residency in Australia. Once the applicant holds the 188B visa for a minimum of three years, they may be eligible to apply for the 888 permanent visa, provided they meet certain requirements.
Benefits of the 188B Visa
There are several benefits associated with the Australian 188B visa. Firstly, it allows individuals and their families to live, work, and study in Australia for up to four years from the date of visa grant. It also provides a pathway to permanent residency, which can ultimately lead to Australian citizenship. The visa also allows individuals to travel in and out of Australia as many times as they wish while the visa is valid.
Furthermore, the 188B visa provides access to the high-quality education and healthcare systems in Australia. It also provides opportunities to establish and expand business ventures, take advantage of the country’s strong economy, and enjoy the high standard of living that Australia offers.
Application Process
The application process for the Australian 188B visa involves several steps. Firstly, applicants must submit an Expression of Interest (EOI) to the Department of Home Affairs, indicating their interest in applying for the visa. They must also receive a nomination from an Australian state or territory government agency.
After receiving a nomination, applicants will be invited to apply for the visa. They must provide all the necessary documents and evidence to support their application, including proof of funds and a comprehensive business/ investment plan. A successful visa application will result in the grant of the 188B visa.
Conclusion
The Australian 188B visa is an attractive option for individuals interested in investing in and developing businesses in Australia. By meeting the eligibility criteria and going through the application process, individuals can gain access to the numerous benefits and opportunities that this visa offers. Whether through the Investor stream or the Significant Investor stream, applicants can pave the way for a successful business and a bright future in Australia. Interested in further exploring the topic discussed in this article? Click to read more about this topic, packed with supplementary and useful information to enhance your reading.
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