One of Australia’s most popularly applied visa schemes is the 188 Business Innovation and Investment Visa. It is a scheme that extends a temporary visa for four years and is aimed at drawing in investors of medium and large businesses. While the visa is temporary, the applicants may eventually become eligible for permanent residence upon the maintenance of certain economic contributions and the conduct of certain business activities. For obtaining permanent residence, the visa-holder will have to separately apply for a Business Innovation and Investment (Permanent) Visa.
One thing, however, the readers should note is that its popularity should not be construed as an easy visa scheme. No, in fact, Australian authorities reject several of these visa applications. Why? This is what we will discuss in this article. Today, our focus is on the reasons that result in the rejection of visa applications by the authorities.
Non-declaration of business failures
You will have to submit a set of documents to the authorities as part of your application. Among these documents, you must submit those that declare any business losses you may have suffered in your entrepreneurial activities. For example, if you had participated in a bankrupt business, those details must be presented. Similarly, in case your business projects suffered losses in the past, then it is your responsibility to document that the said business is making gains presently and will continue to do so. Remember that each and every applicant is thoroughly examined, so avoid selective submission of information.
Assets fall below AUD$ 800,000
Hiring a specialist means extra money going into the task. But this is still better than getting your application rejected over a miscalculation of the values of your and your company’s assets. The instance the authorities find that the property has not been adequately assessed, they will reject the application. That is where, thus, the specialists come.
Inability to explain the sources of income
Investment is a focal point of the visa scheme. The scheme specifically targets resourceful people, which means applicants must be able to qualify for the visa to justify their sources of income. The Department of Home Affairs will keenly look into your statement of funds. If there is any ambiguity, it will entrust you with the task of proving that the sources of income are legitimate and sufficient for the purpose of the scheme. Thus, you must supply them with every pertinent document.
Business is not in active operation
It is incumbent on the applicants to show that their business is actively operational. To show that, they are required to submit proof of a minimum of three orders in the same year. Where there are fewer than three orders for a single company, you are automatically ineligible for the visa. The rationale is simple; if your business is not currently doing any operations, then it may jeopardize the long-term prospects in the country. The authorities don’t issue visas on promises; they want to see whether promises can be kept.
No managerial participation in the company
While it is not a decisive factor in the rejection of the visa application, the authorities do seriously consider the aspect of non-participation or inadequate participation in the management of the company. The applicant should be able to show that he/she holds a position in management and is able to exercise control in important matters in the company. Failure to show that may lead to the rejection of the application.
Inadequate estimation of EOI
An Expression of Interest (EOI) is a way to show interest in making an application for a skilled visa. In it, you will have to tell the authorities that you have the right skills to work and reside in Australia. Basically, an enumeration of how you meet the eligibility criteria. However easy it may sound, applicants often inflate their skillset. As a result, they fail to meet their skills totally with the requirements in question. Thus, it is advised that you should consult a professional before you draft the EOI. The Australian authorities are very particular about EOI, so make due note of it.
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