Which Australian state or territory has the least minimum investment or turnover requirement for a 188 Business Innovation stream visa?

Answers

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  Christina Lim

  Regis Gateways Pty Ltd

  September 15, 2022

  The minimum investment or turnover for 188 Business Innovation stream will always be pegged to the regulation benchmark which is minimum for most states to follow. Certain states such as NSW and VIC would impose additional requirements for points, previous business achievements or even education qualifications. Some would require post-grant commitments. In short, there is no clear, straight-cut answer as to which state would be the smoothest or most cost-efficient option for you because it would depend on your individual background, the business type that you are proposing and the amount of capital typically required for the business; whether the state considers your proposal to be viable based on your previous background or skills. I would encourage you to do your own research on each state's requirements, the type of sectors favored and whether you can realistically carry out a business that suits what each state is looking for as a benefit to their state. You are then advised to connect with a migration professional to help advise you on further action.

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  Mark Schwartz

  VisaConnect

  September 07, 2022

  For the 188A visa, applicants must satisfy the Department of Home Affairs' requirements and meet the eligibility criteria for the state or territory, which they have nominated, based on the applicant's preference for that state/territory. For example, in Victoria, the applicant must 'be committed to establishing, operating and growing a Victorian business'. In NSW, the state will refuse your nomination application for a permanent visa (subclass 888) if during your provisional visa you have not made a business investment of $A500,000 – Sydney or $A300,000 – Regional NSW. Note the Queensland Government eligibility criteria are that applicants must not invest in property development businesses and export businesses must develop international markets for Queensland products. Moreover, the applicant must invest in one or two qualifying business(es) in Queensland after being granted a visa: (i) business investment of at least A$400,000 if the proposed business will be established in the Greater Brisbane and Gold Coast regions; or (ii) business investment of at least A$300,000 if the proposed business will be established in regional Queensland.

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  Venkateswaran Palat Krishnan

  Ven Waran

  September 07, 2022

  One important aspect that the nominating state government for subclass 188 visa will be looking at is the direct and indirect economic benefit your proposed business will bring to that region. This would include direct and indirect employment in that area and also your annual turnover. It is usually expected that your business has a turnover of at least $300,000 in Australia to apply for permanent residence at the end of subclass 188 visa period. This simply means you should have the knowledge about the market where you are going to commence your business, the operational requirements in that region, and also that matches with your actual business interest or expertise so that your business would be successful in that state or region. Therefore, it would be worthwhile to discover the market for your business investment in each region and compare the benefits you could have for your business in the region that is interested in your proposed business investment.

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  Ali Shahami

  R&K Immigration Group

  September 07, 2022

  That depends on your business plan and how much you want to invest in Australia. But South Australia (Adelaide) and ACT (Canberra) usually have the minimum requirements to invest in their state.