1. Visa 188A increases business requirements

From July 1st, 2021, the 188A business visa will increase business requirements to ensure program participants have the ability to effectively manage their businesses. Accordingly, businesses should have:

• Corporate turnover in Vietnam (of 1 or 2 companies combined) per year must be at least AUD 750,000 (two of the last 4 financial years).
• Requirements for the total value of personal & business assets need to be at least AUD 1.5 million.

To apply for an 888A Australian Permanent Resident Visa, the investor needs to have lived in Australia for at least 1 year in the 2 years prior to the date of application. Under the new rules, investors need to have lived in Australia for at least 1 year in the 3 years prior to the application date. Conditions on business and business operation are still kept according to the old law.

In addition, there are the following conditions: 

• Applicants aged 18 - 55 years old
• Score from 65 on the government's profile rating scale 
• Invest from 200,000 AUD in Australia 
• Be guaranteed provincial and meet some other accompanying conditions (will be guided by iCanfield when making the application)

2. Investment visa 188B

• New investment limit of AUD 2,500,000 (old level is only AUD 1,500,000)

• Proof of total assets 2,500,000 AUD 

• Under 55 years old 

• Score from 65 on the government's immigration scale 

• Have experience in investment, management and meet some other accompanying conditions (will be guided by iCanfield when making application)

3. Visa 188C

• No new adjustments – AUD 5,000,000 still applies 

• Proof of total accumulated assets of AUD 5,000,000

• Meet some other accompanying conditions (iCanfield will guide you when making your application)

However, the Australian government will apply a new investment distribution policy specifically for two visa categories 188B and 188C as follows:

• 20% will invest in Venture Capital Funds and Private Growth Equity Funds (VCPE).

• 30% will invest in startups

• The remaining 50% is invested under a Balanced Investment Strategy, by combining the investments in the portfolio in reasonable proportions to balance risk and return.

Thus, from July 1, 2021, new investors will officially apply and comply with Australia's new immigration law. With this adjustment, it shows that the Australian Government is somewhat tighter in financial requirements, proving the source of money of investors. In order to be able to meet the highest application success rate, iCanfield will assist customers in assessing the application capacity, assessing the financial records and guiding the documents to be prepared from the beginning. 

Source from the government on Australia's New Investment Law 188 from July 1, 2021. 

If you want to invest in Australia for the whole family, this is the right time to prepare documents, supplement the necessary documents and consult with a lawyer about new immigration conditions. For any information you need to support, please contact the information below. 

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iCanfield Vietnam Immigration & Study Abroad Consulting Company 

Address: 93 Nguyen Du, Ben Nghe Ward, District 1, HCMC

Hotline: 028.3822.0285