7
200,000 AUD
1-1.5 years
Australia is one of the largest economic countries in the world, with its capital being Canberra. Located in the southern hemisphere of the globe, its diverse economy relies heavily on natural resources such as coal, gold, iron, and natural gas. In addition to tourism, Australia boasts a multitude of natural and cultural landmarks. The Australian government seeks to encourage innovation and development by offering incentives to startups and various enterprises. Thanks to the advanced infrastructure and open market, companies in Australia can effectively expand and grow.
The Australian Business Innovation Visa (subclass 188) is a visa for successful business owners who wish to establish a business in Australia. The visa awards successful applicants with a temporary visa for up to 7 years in one of the most competitive and thriving markets in the world.
The Australia Business Innovation Program offers an abundance of benefits to any potential investor, with the foremost of them being:
The cost of the program lies in the foundational expenses of the project according to the state/region’s terms, in addition to the nature of the project and its location, plus other governmental and administrative expenses for the request.
If you hold at least 30% of shares in a successful company, you may be eligible for the visa. If you do not own the required share percentage in a company, then you are ineligible.
You must reside in the state that nominated you until you get permanent residency.
If you were not able to fulfill the requirements within the visa validity period, you can apply for an extension for another 2 years, which will give you a chance to work on the business conditions.
There are no standard processing times for this type of visa yet from experience, it would take a year to a year and a half on average.
It is a requirement for the businessperson and any dependent aged 18 and above to prove functional English proficiency in an approved English language test. If this requirement is not fulfilled, additional fees will be paid to the government of Australia.