Australia is the home for entrepreneurs and businessmen who are aiming for something big and better in their lives. In fact, the history of Australia begins with people reforming and making the country of the best names in the world. If you happen to have the skills required to open or manage a business in the island country, then opting for the 188 visa Australia needs to be your first step. The country provides multitudes of opportunities for the people and help them sustain in it.
What Is The 188 Visa Australia?
The 188 visa Australia or the provisional Business Innovation and Investment visa is a temporary visa that allows you to enter the country with the purpose of opening a new venture or manage an existing business provided you have the skills to keep it afloat and in profit. While the visa provides a temporary entry, you can opt to apply for permanent stay if you meet all the criteria required. Having a 188 visa Australia you become eligible to:
Invest in any Australian business or open/manage business in Australia
Have 4 years traveling permit to and from Australia
Permission to bring family members who are eligible to Australia
Applying to subclass 888 that grants permanent residency in Australia
Types Of 188 Visa Australia
The 188 visa Australia has three streams which helps categorize the people entering the country on terms of operating a business. These streams are:
Business Innovation Stream: this is for people who has the skills required to successfully manage an existing venture or open a new business in Australia and they have a nomination from the Australian State or Territory government. This stream has no stands time for processing the documents and the validity of the visa is up to 4 years and 3 months.
Investor Stream: for people willing to make an investment of at least 1.5 million Australian Dollars in a security provided by Australian State and Territory Government while opening, investing, operating and managing a new or existing business in the country. You should have a nomination from the government. The validity of this visa is 4 years and 3 months.
Significant Investor Stream: the clause for this stream is as same as that for Investor stream, except, in this case you need to make an investment of 5 million Australian Dollars in an existing business in the country. Here, you can have a nomination from the State and Territory government or from Austrade. The validity of this visa is 4 years and 3 months.
There is also a provision for entrepreneurs in the 188 visa Australia that states that if a third party agrees to finance the entrepreneurship and can provide for 2 million Australian Dollars for the ventures and the person is eligible for undertaking any entrepreneurial venture for the promotion of any Australian brand/product then they will be granted the business visa.
Conclusion
With the help of experienced and vetted immigration lawyers who also hold registration of migration agents will be further beneficial for people wanting to understand the 188 visa Australia clauses and apply for the same. The prospect of a business in Australia is great for the country has the capital that businesses need to fund their products and brands. That said, the culture and ambiance of the country too allows people to find their growth faster. Once people meet the criteria set by the Department of Home Affairs, they are set to begin their new journey.
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