The scope of Australia SkillSelect Visa Subclass 188

The Department of Immigration and Citizenship has made provisions for the experienced businesses around the world to come to Australia for the bright new opportunities. The Government of Australia intends to make the migration policy a vehicle that facilitates economic progress for all. In Australia SkillSelect Visa Subclass 188 does make it possible. Commonly known as Business Innovation and Investment visa, it offers the following benefits to the intending migrants –

  1. As part of the Business Innovation Stream the visa allows an applicant to develop or establish new businesses in Australia.
  2. As part of the Investor Stream the visa allows the intending person to make investments at a certain state or territory
  3. As part of the Significant Investor Stream the investor needs to invest at least AUD 5million in the Australian economy.

Australia is being seen as the new business centre for the world especially for the evolving new opportunities and a cosmopolitan community. The on going recession could also ‘not’ hinder the economic progress of the country and this speaks of its robustness. The Australia SkillSelect Visa Subclass 188 makes way for the business innovators across the world to build or manage new businesses anywhere in Australia. The visa also makes it possible for the intending investors to make investments in any of the Australian state for a long term basis. Such investors can also manage a business ‘borne out of the investment’ even after the initial investment has matured. Under a more elaborate arrangement the significant investors are allowed to make investments worth AUD 5million and more. Together the subclass 188 makes sure that the business owners foresee a good investment potential in Australia and can also avail the opportunities. These visas also help the local governance in Australia to evolve new jobs and employment opportunities for the population.

As an outcome to globalization, Australia has also opened up its gates to new businesses, ideas and ideologies of the world. The talents and successful businesses are being invited to come to Australia and work synergistically with the local resources. In Australia, the SkillSelect Visa Subclass 188 forms part of the Business Innovation and Investment Program being run by the state or territory governments. The intending investor or the person needs to first make an ‘Expression of Intent’ EOI to the Australian government. Upon a thorough assessment of the declarations made within the EOI, SkillSelect will rank the applications. The intending investors and the entrepreneurs will be sent invitations subject to their ranking, nomination by the state or territory governments and any other preferences.

As an applicant under the visa subclass 188 the individuals needs to comply with certain prerequisites-

  1. The applicants should have received the invitation from SkillSelect, given their ranking.
  2. The investors or the entrepreneurs must also substantiate their claims with a successful track record of their businesses or the investment history
  3. The investors or the entrepreneurs must also possess adequate business assets to support the future business
  4. The investors or the entrepreneurs should have been nominated by any state or territory governments for a particular occupation on the SOL.

Australia does adopt a reasonably good migration policy that aims at not just providing visas to the intending migrants but also to make the migration economically viable. The association seems profitable on both ends. The migrants or the investors are availed the evolving new opportunities in Australia along with the basic infrastructure. While the domestic industry and the population gets the benefit of the new job opportunities and employment at Australia.

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