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Important information for 188A Business Innovation visa holders intending to change business plans

Today’s ever changing economic climate can result in necessary changes to business plans.

What happens if you were approved for state nomination based on a particular business plan, and then this plan changes after your 188A visa is granted?

Overview of 188a Business Innovation Visa Australia

188a Visa is one of the 4 streams of the Business Innovation and Investment Program of Australia. 

Other streams are Investor Visa Stream, Significant Investor Visa and Entrepreneur Visa 188

Among all Business Visa options in Australia, the 188a Business Innovation stream seems to be the most popular stream for business migrants for a number of reasons:

  • No English requirement for Business Innovation visa 188a applicants
  • Flexible age limit up to 55 years of age or older than 55 with a condition of proving exceptional economic benefit to Australia
  • Low investment amount needed to apply for the Visa 188a 
  • Have a pathway to permanent residency visa 888a.

However, there is an important step when applying for this stream is proposing a Business plan that may bring benefit to the state that nominated you.

There can be serious consequences if you change your business plan without informing the nominating state government body. Each state has different rules on what to do if your business plans change.

Know someone who is interested in applying for business visa in Australia, use this Business Visa Compare tool for the best option:

 Business Visa Compare Australia

Business Visa Compare Australia

Check this article for the criteria for permanent residency pathway to subclass 888 visas >

Changing business plan for Business Innovation stream in South Australia

To apply for a business change, you are required to provide Skilled & Business Migration with a new business plan and explain why you are seeking to change the business plan. 

Skilled and Business Migration will assess the business plan and determine whether to approve it. 

If you don’t seek approval of Skilled & Business Migration, this may unfortunately lead to 888A endorsement (permanent residency) being refused.

Changing business plan for 188a Visa in New South Wales

If you were nominated to establish a business in Sydney or regional NSW, you are not required to obtain approval to change your business activity. 

However if you were nominated to establish a business in Regional NSW, you must obtain an approval if you wish to move your business activity in Sydney. An 888A nomination application may be refused if this approval was not obtained.

Approval is not needed if you are moving your business activity in another Regional NSW area.  188A visa holders nominated to do business in Sydney are not required to obtain an approval if they wish to move their business elsewhere in NSW.

Changing business plan for 188a visa in Victoria

The Victorian Government expects all applicants to undertake the business proposed in their nomination application.
If you decide to change your business activity from the initial proposal provided in your Victorian subclass 188 nomination application, you must seek advice from Skilled and Business Migration prior to undertaking this business activity through a designated online form.

You must ensure the new business activity complies with:

  • all Victorian visa nomination conditions, and

  • Department of Home Affairs’ subclass 888 visa criteria

Examples of businesses that have been successful in Victoria:

  • Technology development
  • Tourism and primary producer
  • Cosmetics manufacturing
  • Nutritional product manufacturing and export

Examples of business types that will not be accepted:

  • property development
  • gift stores
  • convenience stores
  • dollar stores
  • franchises (unless international brand that is new to Australia)

Changing business plan for Visa 188a in Queensland

If you intend to change to a different type of business, you are required to seek approval from Migration Queensland by completing an online application form alongside payment of an application fee.

Changing business plan for Visa 188a in Western Australia

You must seek prior approval from the Business Migration Centre for any change in business proposal. 

Changing business plan for Visa 188a in Tasmania

There is no requirement to advise of a change to business intentions. However, it would be wise to provide details so Migration Tasmania can indicate whether or not it is consistent with the intent of the nomination and endorsement at the 888 nomination stage.

Recommendation

Work Visa Lawyers has significant experience with Business and Investment visas.

If you hold a subclass 188 visa in the Business Innovation stream, and would like to change your business plans, we can advise whether this would meet state nomination requirements, help you prepare a detailed business plan that clearly explains how your business will contribute to the economy and create new jobs, and guide you through the 888 (permanent residency) visa process. 

 

Australian Business and Significant Investor Visas Subclass 188 Closed - New Visa Expected in 2024! Read more here! 

 

More about the Business Visa Australia Agents and Lawyers

Understanding the difficulties in choosing the best Australian Business Visa options, Business Visa 188 Agents and Lawyers team have worked together to create this tool to help experienced business owners or investors find their best Business and Investor Visa options in Australia.

Work Visa Lawyers has strong immigration knowledge and committed to keep updating our website and Business Innovation and Investment news in Australia.

Work Visa Lawyers ® is a migration firm founded by Lawyer Chris Johnston in 2011. Our team is focused on providing quality immigration services to our clients, wherever they are in the world. We speak English, Mandarin, Cantonese, Punjabi, Hindi, Tagalog (Filipino), Portuguese and Vietnamese.

We can help you with the Business Innovation and Investment (Provisional) visa (subclass 188) for the following four streams and Global Talent Visa:

We are experts in Business and Investor Visas 188 and Global Talent Visa 858 in Australia. We help overseas business owners, investors to create a new life in Australia with their family much faster through those visa streams.

Business Visa Lawyers Australia Work Visa Lawyers

Learn more about our Business & Global Talent Visa Team >>

Sources

https://www.migration.sa.gov.au/visa-options/business-and-investment-visas/business-innovation-and-investment-provisional-visa#nav-requirements

https://liveinmelbourne.vic.gov.au/migrate/business-investor-visas/188a-supporting-information

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Sunday, 21 July 2024

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