Permanent Residence: After 2 years of doing business in Australia, you can transfer to the 888 Green Card visa
Investment: $1.25 million
Application Prerequisite
An invitation is required to apply for a visa
Under 55 years of age (subject to availability, exemptions may apply)
The EOI score of the Letter of Intent review is at least 65 points
Have a successful business background and involvement in day-to-day business management
The turnover of a company (which may be more than one) is not less than $750,000 for at least 2 years in the past 4 financial years)
Own business and personal assets of at least $1.25 million and can be transferred to Australia within 2 years
Genuinely interested in doing business and managing business in Australia
Australia 188A Visa to 888 Permanent Residence Visa:
At the time of applying for the 888 Permanent Residence Visa, the applicant has been directly managing the business in Australia for more than 2 years.
2 years before applying for permanent residence, and have lived in Australia for a total of 1 year
2 years prior to applying for permanent residence, holding equity and management positions in one/more businesses
In the 12 months prior to applying for permanent residence, the business has an annual turnover of at least $300,000
Before applying for permanent residence, the applicant needs to own any of the following businesses and meet the following shareholding requirements:
With an annual turnover of more than $400,000 and more than 30% stake; or
With an annual turnover of less than $400,000 and more than 51% stake; or
Listed company, more than 10% of the shares
Two of the following 3 conditions need to be met:
In the 12 months prior to applying for permanent residence, the family’s net worth remains at least $600,000
In the 12 months prior to applying for permanent residence, the business has net assets of at least $200,000
In the 12 months prior to applying for permanent residence, the company employs at least 2 local full-time employees
Project Advantages
The threshold is low, after getting 188A, the main applicant and the secondary applicant of the 888A permanent residence stage can be exchanged (spouse only, children can not), that is, the spouse can run a business in Australia to meet the living conditions, while the spouse can stay in the country to continue to manage the business.
Asset requirements are as low as AUD 1,250,000, compared to the investment amount of AUD 2,500,000 at 188B.
Family Members
Spouse of the main applicant
Children of the main applicant:
Unmarried under 23 years of age, and
Financially dependent on the main applicant
Application Procedure
Sign an agreement
Prepare documents and submit applications of intent
Guaranteed nomination by state or territorial governments
Formal submission of the application
Get the file number
Interview (if any) medical examination
Successfully obtained a visa
Landing in Australia and completing investment requirements/incorporation
Application of intent: Approximately 4 to 12 weeks
188A Temporary Visa: Approximately 17 to 18 months
(*The above approval time is taken from the data released by the Australian Immigration Department in July 2018)
