AUSTRALIA
Australian 188 Visa Program

Overview and advantages

Australia has become a choice immigration destination with its stable economy, safe and democratic society as well as a very well developed business environment. Australia is very welcoming to different peoples and businesses which is clearly reflected by its different immigration programs. Simard & Associates and its partners in Australia can help you understand and select numerous from the different options leading to residency, including skilled migration and business/investment migration. Among the many programs available, we present the most popular 188 Visa which is suited for businessmen and businesswomen as well as investors. The 188 Visa has three different streams: 188A (business creation), 188B (investment) and 188C (significant investment).

Requirements

The potential applicant must :

– Except for the 188C visa, be under 55 years of age;
– Be nominated by an Australian state or territory government agency;
– Score at least 65 on the points test;
– Reside in the state or territory in which they have been nominated;
– Continue their business and investment activity in Australia.
– Depending of the program selected, the applicant must also prove a minimum amount of assets.

Investment

The 188 Visa offers 3 options:

1. The candidate can establish, develop and manage a new or existing business in Australia. This program is aimed at those with an already thriving business background who wish to either continue their activities in Australia. Among other criteria, the applicant must:

– For 2 out of the past 4 fiscal years before applying, had ownership in a business that had at least AUD 500,000 turnover in each of those years;
– Own at least
o 51% of the company in question, if its turnover is less than AUD 400,000/year;
o 30% of the company, if turnover is above AUD 400,000/year;
o 10% per cent, if it is publicly listed company.

2. The candidate can to invest AUD$ 1.5mil in an Australian state or territory government security, and must hold that investment for 4 years.

3. The candidate can invest AUD$ 5 million into complying investments in Australia.

– Application Process

– Preparation of the documentation;
– Expression of Interest and Australian state nomination;
– Submission of file;
– Landing in Australia. Note that the candidate will need to, after satisfying certain conditions of the selected 188 Visa, apply for a “188 Visa” in order to obtain permanent status.

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