About Business Innovation & Investment Visa (Visa 188A)

The provisional Business Innovation and Investment visa (Visa 188A) is part of the Australian government’s Business Innovation program to attract successful entrepreneurs & investors from around the world to immigrate and grow businesses in Australia.

  • Investor and family members (spouse and children under the age of 23 at the time the visa is issued) will be granted a Temporary Resident Visa (Visa 188A) for a period of more than 4 years (and can be extended for another 2 year)
  • While holding the 188A – Temporary Resident Visa, applicants need to meet the additional requirements for doing business in Australia before they can apply for the 888A – Permanent Resident Visa
  • The advantage of Visa 188A is that the assets and revenue conditions of businesses in Vietnam are easier to achieve than the other types of Visa

Visa 188A Benefits

  • Applicants and family can come to live, study, work and do business in Australia during the visa is issued
  • Applicants’ children are exempt from tuition fees for grades 1 through 12 if they attend public school
  • Enter Australia freely while Visa is valid
  • Opportunity to apply for 888A permanent resident visa if all conditions are met

Visa 188A Requirements

  • Primary applicant under 55 years old
  • Present business plan to state or territory governments
  • Nominated by a state or territory government
  • Directly involving in the main business management and having successful business career
  • Combined business and personal net assets of the primary applicant and the spouse is no less than AUD $800,000 before the visa application
  • Main business achieving annual turnover of no less than AUD $500,000 for at least two financial years in the past 4 financial years immediately before the visa application
  • Achieving no less than 65 points in the Business Visa Point Test

From Visa 188A To Visa 888A

Conditions for applicants

  1. Holding Visa 188A as the principal applicant, having been in Australia for at least 2 years for a period of 4 years
  2. Direct management of legal business in Australia for at least 2 years
  3. Get a sponsorship/nomination by the state prior to applying for a visa
  4. In the 12 months before applying for Visa, minimum turnover reached 300,000 AUD/year and the applicant or/and wife/husband have 2 of the 3 following conditions:
    • Total net assets in the Australian business to reach at least 200,000 AUD
    • Total personal assets (including wife/husband) in Australia at least 600,000 AUD
    • Use at least 2 local employees to work full time at Australian business

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