To be eligible for a visa 888a, applicants must demonstrate that they have transferred the required amount of capital to Australia.
1. Determine the required amount of capital for your proposed business
• Research the location and nature of your proposed business to determine the minimum amount of capital required
• Ensure you have access to the necessary funds for the transfer to Australia
• Keep in mind that the required amount may vary depending on the nature and location of your proposed business.
2. Transfer the capital to an Australian bank account
• Choose a reputable bank in Australia and open a bank account for your business
• Ensure that the transfer of funds is made to the Australian bank account in accordance with Australian laws and regulations, initially transfer the money to your personal account and subsequently to your business account.
• Provide evidence of the transfer of funds, such as bank statements or wire transfer receipts.
3. Ensure the transfer of capital is for a lawful purpose
• Confirm that the transfer of capital is for the sole purpose of starting or investing in a business in Australia
• Ensure that the transfer of capital is made from a legal and legitimate source
• Be prepared to provide documentation and evidence to support the lawful purpose of the transfer of capital.
Disclaimer:
This is no financial, accounting, tax, business registration or legal advice.
The mentioned items are to be taken as general advice and each applicants has to seek professional advice for each specific item.
