Australia PR Points Calculator Criteria for the Subclass 188 Visa
Businesspersons, entrepreneurs and investors planning to move to Australia typically immigrate through the Business Innovation and Investment (Provisional) Visa (Subclass 188) – which allows foreign nationals to manage a business, and/or conduct investment, entrepreneurial or business activities in Australia. There are several applicant categories or streams under this visa, each of which has distinct eligibility criteria – including the Australia PR points calculator.
One of the criteria for filing an Expression of Interest (EOI) under the Business Innovation Stream and the Investor Stream is to score at least 65 points based on the selection criteria of the points calculator. It is important to note, however, that Subclass 188 is not an Australia PR visa, as it does not directly assure permanent residence (PR).
It allows for provisional residence of up to 4 years and three months, which can further be extended or eventually converted to permanent residence by applying for the Subclass 888 visa. So, after living in Australia on a provisional basis for a sufficient amount of time, the candidate and their family can potentially access all the benefits of Australia PR. The Subclass 188 point allocation criteria include:
Age (Maximum 30 points): Those aged between 25 to 32 years can avail the maximum points under this factor.
English language ability (Maximum 10 points): Those who demonstrate Proficient English language skills through the results of an approved language proficiency examination gain the maximum points.
Academic Qualifications (Maximum 10 points): A recognized bachelor qualification in science, technology or business can earn the maximum points.
Financial Assets (Maximum 35 points): This refers to the net personal and business assets of the applicant (and/or spouse, if applicable) in each of the past two financial years. The minimum threshold is AUD 800,000, while the maximum points can be claimed for financial assets worth AUD 2.25 million or more.
Business Turnover (Maximum 35 points): Having ownership interest in a single business or multiple businesses that have an annual turnover of AUD 2 million or more in at least two of the preceding four financial years would earn the maximum number of points. To be eligible, the turnover should not be less than AUD 500,000.
Business/Investor Experience: To claim the maximum points under this criteria, those applying under the Business Innovation Stream should have held at least one main business for seven of the past eight years and those applying under the Investor Stream should have held eligible investments amounting to AUD 100,000 or more for at least seven years.
Business Innovation Qualifications: Additional points can be claimed for meeting specific requirements related to the following –
- Registered patents or designs (15 points)
- Registered trademarks (10 points)
- Ownership and participation in business(es) operated under a joint venture agreement (5 points)
- Ownership interest in a business deriving 50% or more of annual turnover from export trade (15 points)
- Ownership interest in a business that meets growth and employment requirements (10 points)
- Ownership interest in a business that received a government grant or venture capital funding (10 points)
Special Endorsement (Maximum 10 points): These points are available if an Australian state/territory nominates the candidate for the Subclass 188 visa and determines that the business proposed by the applicant has a unique and important benefit to the nominating state/territory.
Those who score the required points and meet other requirements can submit an EOI. EOIs in the pool are ranked based on point score. Through regular invitation rounds, the highest-scoring candidates who meet the point cut-off are invited to apply for the visa. The point cut-off changes with every invitation round. To explore options for enhancing your score under the Australia PR points calculator, or consider alternative visa pathways, seek the guidance of seasoned experts at Abhinav Immigration Services Pvt. Ltd. – India’s most trustworthy immigration consultancy, since 1994.