Business Innovation and Investment (provisional) visa (subclass 188)

This visa allows professional businessman and investors to come and live in Australia with their business ideas and investment ideas. This visa is a temporary visa which would allow you to apply for permanent visa 888 Subclass provided you meet the requirements and criteria of this visa. 188 visas have different stream under which one can apply this visa:

Business Innovation stream This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia. Stay: Up to 5 years. Cost: From AUD6,085

• You must operate a new or existing business in Australia.
• You must be nominated by an Australian State or Territory government agency.

With this visa, you can…

• Operate a new or existing business in Australia
• Bring eligible members of your family with you
• Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream

Eligibility Criteria

• Score at least 65 on the points test
• Provide proof of your business success (annual turnover, ownership interest) AUD 750,000For at least 2 of the 4 fiscal years
• You, your partner, or you and your partner together, have total net business and personal assets of at least:

• AUD1,250,000 if you were invited to apply for this visa on or after 1 July 2021

The applicant genuinely has a realistic commitment to:

• (a) establish a qualifying businessin Australia; or
• (b) participate in an existing qualifying business in Australia

Investor stream

• Apply from outside Australia
• Have an Eligible passport

In order to get this visa, you must hold a passport from one of the following countries:

Eligibility Criteria

Applicant must not be of 55 years of age.

• The applicant has overall had a successful record of eligible investment activity or qualifying business activity.
• The applicant has had a total of at least 3 years experience of direct involvement in managing one or more qualifying business or eligible investments.
• The applicant has demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity
• For the 2 fiscal years immediately before the time of invitation to apply for the visa, 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, had a net value of:AUD2,500,000.
• All funds have to be legally obtained.

Significant Investor stream

This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.

Eligibility Criteria

You must be invited to apply for this visa

• Be nominated by a State or Territory government agency or Austrade to invest at least AUD 5 million that meets certain requirements and have a genuine intention to hold that investment for the life of your provisional visa
• Have a genuine intention to live in the State or Territory whose government agency nominates you

With this visa, you can

• Carry out investment activity in Australia
• Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met.

Premium Investor stream

This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in Australia for up to 4 more years. With this visa, you can

• Carry out business and investment activity in Australia
• Stay in Australia for up to 4 years and 3 months
• Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream if certain requirements are met.

Eligibility Criteria

• Hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream and have held that visa for at least 3 years; or
• Hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream and not have held more than one of these visas
• Be nominated by a State or Territory government agency or Austrade

Entrepreneur stream

For startup and early stage entrepreneurs who have been endorsed to develop their concepts and been nominated by a State or Territory government agency.

Eligibility Criteria

• Be nominated by a State or Territory government agency
• Undertake, or propose to undertake, a complying entrepreneur activity in Australia
• Show us a business plan for your entrepreneurial activity
• Have at least competent English