Document ID: chunk:federal_register_of_legislation:F2025C00115:clause:2_2:p56
Version: federal_register_of_legislation:F2025C00115
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 56/178)
Character Range: 1563875–1566545

2 of the 4 fiscal years immediately before the time of invitation to apply for the visa, the applicant had an ownership interest in one or more established main businesses that had an annual turnover, in each of those years, of:
 (a) if the time of invitation was before 1 July 2021—at least AUD500,000; or
 (b) if the time of invitation was on or after 1 July 2021—at least AUD750,000.
 (2) If the applicant was engaged in one or more businesses providing professional, technical or trade services for at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa, the applicant was directly engaged in the provision of the services, as distinct from the general direction of the operation of the business, for no more than half the time spent by the applicant from day to day in the conduct of the business.

188.226
  At the time of invitation, the business and personal assets of the applicant, the applicant's spouse or de facto partner, or the applicant and his or her spouse or de facto partner together, that can be applied to the establishment or conduct of a business in Australia have a net value of:
 (a) if the time of invitation was before 1 July 2021—at least AUD800,000; or
 (b) if the time of invitation was on or after 1 July 2021—at least AUD1,250,000.

188.227
  The nominating State or Territory government agency is satisfied that the net value of the business and personal assets of the applicant, the applicant's spouse or de facto partner, or the applicant and his or her spouse or de facto partner together, other than the business and personal assets mentioned in clause 188.226, is sufficient to allow the applicant and the spouse or de facto partner to settle in Australia.

188.228
  The business and personal assets of the applicant, the applicant's spouse or de facto partner, or the applicant and his or her spouse or de facto partner together:
 (a) are lawfully acquired; and
 (b) are available for transfer to Australia within 2 years after the grant of a Subclass 188 visa.

188.229
 (1) The applicant genuinely has a realistic commitment to:
 (a) establish a qualifying business in Australia; or
 (b) participate in an existing qualifying business in Australia.
 (2) The applicant genuinely has a realistic commitment to:
 (a) maintain a substantial ownership interest in the qualifying business mentioned in subclause (1); and
 (b) maintain a direct and continuous involvement in the management of the qualifying business from day to day, and in the making of decisions that affect the overall direction and performance of the qualifying business, in a manner that benefits the Australian economy.