VISA 188A/888A – BUSINESS INNOVATION STREAM

The Temporary Business Visa for Australia is designed for entrepreneurs who are interested in investing and managing a new business, transferring or acquiring a commercial franchise, and have a minimum investment requirement of only 300,000 AUD, equivalent to 5 billion VND.

With this visa, business owners will be granted a 5-year residency period to fulfill their investment and business commitments, in order to meet the requirements set forth by the Australian Department of Home Affairs and get closer to the opportunity of obtaining a Permanent Resident Visa (subclass 888A).

BENEFIT

The primary applicant, along with their spouse and children under 23 years of age, will be granted a 5-year temporary residency visa for Australia.

Children of the primary applicant can receive free education at public schools from grade 1 to grade 12.

The entire family will have the freedom to travel between Vietnam and Australia during the validity of the 188A visa without the need for any other visas.

The 188A visa can be extended for an additional 2 years (maximum of 7 years) if the business in Australia has not met the requirements set forth by regulations.

There is a chance to obtain a Permanent Resident Visa (subclass 888A) within a minimum of 3 years if the business and residency requirements are met according to Australian Department of Home Affairs regulations.

There is an opportunity to improve English proficiency with up to 510 hours of free English language courses.

MELBOURNE

This is a Permanent Resident Visa for entrepreneurs who already hold the 188A visa and wish to continue their investment and business activities in Australia. The spouse and children under 23 years of age (at the time of visa issuance) of the primary applicant can also become permanent residents, along with the opportunity to obtain dual citizenship of Australia and Vietnam.

BENEFIT

The entire family will have the freedom to live, work, and study in all states and territories of Australia.

Children of the primary applicant can receive free education at public schools from grade 1 to grade 12.

The family will have access to full healthcare and social security benefits like Australian citizens, except for the right to vote.

The family will have the freedom to travel between Vietnam and Australia without restrictions.

There is a chance to obtain Australian citizenship for the entire family if all requirements are met.

CONDITION

The primary applicant must have lived in Australia for at least 1 year in the 3 years prior to applying for the 888A Permanent Resident Visa and while the 188A temporary residency visa is still valid.

The primary applicant must own one or two businesses (maximum) operating in Australia for at least 2 years prior to the application.

The business must have achieved a minimum annual turnover of 300,000 AUD, equivalent to 5 billion VND in the 12 months immediately preceding the application.

Within the 12 months prior to the application date, the primary applicant must meet at least 2 of the following 3 criteria:

• • The net assets of the business in Australia reach a minimum of 200,000 AUD, equivalent to 3.5 billion VND.
  • The combined net personal and business assets in Australia reach a minimum of 600,000 AUD, equivalent to 10 billion VND.
  • Employ at least 2 full-time employees who are Australian or New Zealand citizens.

The primary applicant and their family must not engage in any illegal business activities, and must comply with Australian laws.

Within the 12 months prior to the application date, the primary applicant must meet at least 2 of the following 3 criteria:

• • The net assets of the business in Australia reach a minimum of 200,000 AUD, equivalent to 3.5 billion VND.
  • The combined net personal and business assets in Australia reach a minimum of 600,000 AUD, equivalent to 10 billion VND.
  • Employ at least 2 full-time employees who are Australian or New Zealand citizens.