Australia’s Business Immigration Opportunities
The country of Australia is one of the largest sovereign nations in the world as it occupies the entire Australian continent. The nation is composed of six states and multiple territories with its cities of Sydney and Melbourne being the most popular destinations in the country. Australia is widely recognized as a highly developed nation that boasts the world’s twelfth largest economy and fifth highest per capita income. Moreover, Australia is also a respected global power with memberships in G20, the World Trade Organization, and the United Nations.
The country attracts millions of tourists every year who vacation in Australia in order to experience the nation’s rich aboriginal culture and heritage, witness its rare and indigenous animal species such as kangaroos, koalas, and dingoes, and to traverse its unique topography and beautiful scenery.
In addition to its tourists, Australia also attracts hundreds of thousands of foreign investors who flock to the nation every year to take advantage of the country’s international investment opportunities. The country’s thriving economy is based on its tourism, education, and financial services industries and the nation is also exceptionally rich in natural resources such as gold, iron-ore, wheat, and wool, which Australia exports on an international scale.
As a way of encouraging more foreign investment, Australia offers numerous investment-based visas for foreign nationals to use in order to come to the country and develop commercial enterprises and investments.
Australia’s Business 888 Visa
Australia’s permanent investment visa is called the 888 Visa. However, before qualifying for the 888 Visa, the investor must first receive the 188 Visa. The 188 Visa is for temporary residence and is granted to a foreign investor who qualifies for immigration under one of the three sub-categories of business innovation, business investment, or qualification as a significant investor.
The 188 Visa requires the investor to be under 55 years old at the time of making the application, to have a detailed plan to establish a business through investment or participate in an existing business, and to achieve at least sixty-five points based on the investor’s age, proficiency in the English language, education background, business or investment experience, previous innovative business activities, and whether the investor obtains a special endorsement from the nominating state or territory. Once investors meet the qualifications for the 188 Visa, they are issued visas that are valid for four years. At the conclusion of the four year period, the investors may apply for the permanent Business 888 Visa.
To qualify for the Business 888 Visa, the investor must meet one of two criteria; first, that the investor has maintained continuous ownership interest in an Australian business, that the investor possesses a net value of at least $600,000A and that the business employs Australian nationals. Or second, the investor may prove that the investor has made an investment in connection with the 188 visa and has sustained the investment for a minimum of four years.
Interested investors are encouraged to contact knowledgeable attorneys to assist them with the Australian Business Talent 132 Visa process.