Ten reasons for why applicants’ Australian Business visa has been rejected?
Australia's 188 Business Innovation and Investment visa is currently one of the most attractive visas.
Australia's 188 Business Innovation and Investment visa is currently one of the most attractive visas. This type of visa is a temporary residence visa for around four years. It is targeting at large and medium-sized enterprise owners and listed company shareholders or senior managers. Applicants can get PR or permanent by investing in certain economic programs and engaging in entrepreneurial activities, as if they hold certain company shares and the company's turnover reaches a certain amount.
The 188 business visas are divided into five streams, including Business Innovation Stream (188A), Investment Stream (188B), Significant Investor Stream (188C), Premium Investor Stream (188D), and Entrepreneur Stream (188E).
Once the applicant holds the 188 temporary business visa, which means he/she is eligible to apply for a Business Innovation and Investment (Permanent) visa, and then obtain Permanent Residency.
So why applicants’ Australian Business visa has been rejected?
The process of 188 Business Innovation and Investment Visa is complex and involves many sophisticated procedures and documents, such as Annual Financial Report, Asset Assessment Report as well as Audit Reports, etc.
There are two important assessment indicators for this visa, one is the Expression of Interest (EOI) and the other is the approval by the Australian Government. On one hand, EOI is an essential part of Business Innovation and Investment Visa, which requires the applicant to submit an EOI to the Australian State. At this point, the Australian State or the Territory Government has the right to refuse the nomination. For internal review, once the applicant has been granted the nomination, the Australian Government will review the nomination through the Department of Home affairs. At this point, the Australian State or the Territory Government also has the right to reject the application.
So, there are ten reasons in terms of the rejection for 188 Business Innovation and Investment Visa, which shows as following:
1. Miscalculation for EOI
This means applicants may calculate the points of EOI without consultation with a specialist so that they did not fulfil the benchmark. For example, applicants personally believe that they can get five points because their international education qualification. However, the above qualification does not meet the requirements of Australian Qualification Framework (AQF).
2. Fail to include the bankruptcy history
If the applicant goes bankrupt or participates in a failed business or investment, it must be included in the submitted documents. Depending on the circumstances, the Australian government will review it according to the specific standards. However, if the applicant intentionally pretends or fails to submit historical bankruptcy information, it may result in a refusal.
3. No reasonable explanation for business losses
Applicants need to explain the loss of their previous business and also should provide strong evidence for their current success and the possibility of continued growth for turnover in the future.
4. The turnover is lower than standards
Depending on the types of visa, the requirements for business turnover is vary. If the applicant's company's turnover is lower than the stated criteria, the Australian government may refuse the application.
5. The ownership of the company does not include the first two fiscal years
Applicants need to be a business owner in their companies for at least 2 full fiscal years.
6. The applicant does not participate in the management of the company
Many applicants do not follow the standard to participate in day-to-day operations management and exercise power in one or two companies, which may lead to failure in alignment with government requirement.
7. Less than 3 business orders per year
Applicants are required to provide evidence that their business is in active business operations by providing at least three orders in the same year. If it is less than 3 business orders in one company, it is not eligible to be granted. Because the Australian government may consider that company to be an inactive enterprise, so that might doubt about its long-term development.
8. Incorrect ownership
This means that the applicant's submitted documents, such as company registration, share registration, or business name registration form, are inaccurate.
9. Personal and company’s assets are less than AUD$800,000
This usually happens when the applicant's property is listed as an asset. If the property is not properly assessed, the Australian government will not consider its value. Therefore, it is better for applicants to consult with specialists asking for advice.
10. Unable to explain economic sources
When assessing the ownership and sources of funds, the Department of Home Affair will review whether the applicant's assets are legally obtained. The applicant should explain and provide relevant evidence to prove that all assets are obtained through legal operation or investment. For example, company history financial documents and asset valuations, as well as acquisition records.
Please do not hesitate to contact us if you require Australia migration advice or services, or if you would like to know more about the Business Innovation and Investment Program or Business Talent Program. Our team is ever willing to provide you with migration advice and support whenever you need it.