The 188A Provisional visa allows for a foreigner to set up a new business or buy a pre-existing business in Australia and acquire permanent residency of Australia. Each state or territory has different eligibility requirements regarding the amount of business investment required. For example, in the state of Victoria, the foreigner applicant must meet a turnover in the eligible business of no less than AU$1 million per 12 months, over a consecutive 24-month period immediately prior to applying for the 888 Permanent visa, and employ at least two eligible full-time employees in the Victorian business for a minimum of 24 months.
To start an independent business in Australia as a non-citizen, you need to have an appropriate visa. As there are many visas that allow you to remain in Australia, you need to find a suitable option that applies to your circumstances. Although it is not a requirement, there needs to be an Australian citizen as a director of a company; at least one director should be an Australian resident director of the company holding an appropriate visa, and have Australia as their main place of residence. Thus the main criteria are that although they need not be an Australian citizen, at least one director of the company must be an Australian resident having Australia as their residence.