Business skills migration visa is our proudest service sector. Back in the days of applying for subclass 163 visa, Kingway has successfully applied for various types of business skills migration for many clients (please see the client testimonials section). There are a number of successful cases in each application category. Business skills migration is the most complicated visa category in Australia, with the highest requirements and the most cumbersome application process. From background review, formulation of application plan, preparation of visa application and document submission, Kingway team has a systematic and strict review process. Each application is personally checked by an agent to ensure a positive result rate.
The Kingway business skills migration team keeps close contact with the Australian state immigration offices and commonwealth immigration offices, to obtain the latest and most accurate information. The team also regularly attends vocational training to ensure that clients are provided with the latest immigration policies and trend analysis.
Kingway utilizes the advantages of a local Australian company to provide resettlement services for business skills migrants who have just arrived in Australia. The applicants may need help to: assist their children to go to school; purchase real estate and start a business; trade assistance and support; and even to provide food, clothing, housing and transportation assistance and other all-around services. With Kingway’s help, business skilled migrants and their families could enjoy a carefree journey from landing, to settling down, and to establishing a career in Australia.
From 1st July 2021, The Australian Department of Home Affairs has reformed the business migration program ( BIIP ) and narrowed it down from 9 to 4 types of visa:
- Subclass 188 Business Innovation Stream（188A）
- Subclass 188 Investor Stream (188B)
- Subclass 188 Significant Investor (188C)
- Subclass 188 Entrepreneur (188E )
For more detailed information please visit the resource center.
The latest and key changes after 1st July 2021:
- The Premium Investor, 132 Significant Business History and 132 Venture Capital Entrepreneur visas closed to new applications from 1 July 2021.
- All subclass 188 Provisional visa holders in all four streams will be able to apply for permanent residence if they meet the requirements after three years, but the provisional visa will now be valid for five years instead of four years.
- Subclass 188 Business Innovation and Subclass 188 Significant Investor visa holders will also continue to be able to extend their provisional visas if they do not meet the business and residence thresholds in the required timeframe. Significant Investor provisional visa holders can apply for two, two-year extensions provided they continue to maintain their complying significant investment.
- Business Innovation provisional visa holders can apply for a two-year extension provided they demonstrate a realistic commitment to continuing to manage a business that has been actively operating in Australia for the previous two years.
- The requirements for Business Innovation visa holders has increased Subclass 188 Business Innovation visa holders will be required to hold business assets of $1.25 million (up from $800,000) and have an annual turnover of $750,000 (up from $500,000) to prove their business acumen.
- The investment amount for the Investor stream will increase from $1.5 million to $2.5 million. The investment amount for the Significant Investor stream will remain at $5 million.
- The Complying Investment Framework (CIF) will be applied to both investment streams—Investor and Significant Investor. The venture capital and private equity component of the CIF will be increased from 10 to 20 per cent, with a further 30 per cent dedicated to emerging companies.
- All four stream of provisional visa holders of four streams will be able to apply for permanent residence if they meet the requirements after three years, but the provisional visa will now be valid for five years instead of 4 years.