After obtaining the 4 years provisional visa, the Australia subclass 188A Visa holder will have to set up a company in Australia for at least two years, and fulfil the minimum stay and revenue requirements. Eventually after meeting these requirements, the person can be allowed to convert his/her status to a permanent resident. Ā
1.Ā Ā Ā Ā There are no requirements regarding to the choice of industry.
2.Ā Ā Ā Ā The amount of investment capital required will be around AUD 200,000
3.Ā Ā Ā Ā Ā Low Cost and High Success Rate
4.Ā Ā Ā Ā Identity
Conversion (Converting to a permanent resident) is a must for all applicants of
the 188 Visa Program.Ā
1.Ā Ā Ā Ā Have set up a business for at least 2years during the 4years residency.
2.Ā Ā Ā Ā 2 years before the submission of the application, the applicant should be holding no less than 30% of market shares; however, if itās a publicly listed company, then the requirement should be no less than 10%.Ā
3. 1 year before the submission of the application, the annual revenue must be at least AUD 300,000; If the person is holding less than 51% of shares, the annual revenue should be at least AUD 400,000.
4) Fulfil at least two of the following requirements:
a.Ā Ā Ā The average net worth for married couple should be AUD 600,000
b.Ā Ā Holding AUD 200,000 of the companyās net asset
c.Ā Ā Ā Hired two local full-time employees
d.Ā Ā Have set up the business for at least 22months.Ā
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