Is there some online list of Australian businesses that one can go through before applying for the business residency visa in Australia? How much stake would an applicant need to have in an existing business to qualify for residency?
To apply for the 188A Visa, your Australian migration agents or CPA accountants can introduce you to existing Australian businesses. To be eligible for the 888A Permanent Visa, after 24 months, you must own at least: 51% of the total value of a business with a turnover of less than AU$400,000 per year, or 30% of the total value of a business with a turnover of AU$400,000 or more per year.
The answer to this question will very much depend on which state or territory and which region you wish to settle in. Each state and territory will have different criteria and preferences for the types of businesses for which they will provide state nomination for a 188 Business Innovation stream visa. For example, in Victoria, you will need to have at least a bachelor degree in a STEM field as well as at least three years’ experience operating a business in a target sector. New South Wales has different target sectors for Sydney and regional areas, and the amount you need to invest into the business also varies with AU$500,000 required for purchasing a business in Sydney and AU$300,000 for regional NSW. The investment amount required in Queensland is AU$400,000 in the Greater Brisbane area or the Gold Coast or AU$300,000 in a regional area. The investment requirement in Canberra is AU$200,000 for a 188A visa, while South Australia requires an investment of AU$300,000 or AU$1.2 million into a property development business. South Australia also provides options for applicants who are over the age of 55, who can apply if they invest higher amounts into the new business. As you can see the requirements vary greatly between states and territories. There is no list of businesses for sale which would qualify for a visa, but by liaising with professionals who can provide guidance on eligibility you will make the correct choice for your future.
The Subclass 188 Business and Innovation Stream visa allows one to acquire and operate an existing business in Australia. Assets worth at least AU$1.25 million should be ready for transfer to Australia after the visa grant. However, subclass 188 visa needs to have a nomination from a state or territory in Australia. Each state or territory will have their own conditions on business investment level, and also will have preferred sectors that you may be required to invest in in order to become eligible for nomination. The state may also have different conditions for investment in different regions of the state. Therefore, you must first contact the respective state/territory government in Australia to understand the options available.
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