Overview

This subclass 188 visa stream is ideally suited for the applicants who are already operating a lawful business enterprise successfully and have an ownership interest, either individually or with their spouse/partner, in an existing business overseas. Any overseas business that is either a proprietorship firm/sole trader, registered/unregistered partnership, a privately held or a public listed company as long it is carrying out lawful business activities according to local as well as Australian legislation.

Eligibility Criteria:

• Ownership interest of minimum 51% in no more than two lawfully operating businesses with a turnover, combined or individually, of at least AUD 750,000 for at least 2 of the last 4 fiscal years; and
• Net personal and business assets of at least AUD 1,250,000; and
• Under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit; and
• Meet the pass mark in the Business innovation and investment Points test (currently 65 points)
• Have an overall successful career in business
• All applicants must meet the health and character requirements

Visa Application Charges – VAC

First VAC

• Primary Applicant: $6,085 | Secondary Applicant – over 18 years: $3,040 | Additional applicant – under 18 years: $1,520

Second VAC

• A primary applicant over the age of 18 years assessed as not having functional English – $9,795
• Any other applicant over the age of 18 assessed as not having functional English – $4,890