Business Innovation and Investment (Provisional) Subclass 188 Visa
Business Innovation & Investment Subclass 188 visas are for investors and business owners who wish to establish business operations in Australia.
Duration and Conditions
This is a 4 year temporary visa. Once you have maintained an investment in Australia for 4 years or established an ownership interest in an Australian business, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.
If you have applied for the Business Innovation stream, a 2-year extension is possible once you have held the subclass 188 visa for 3 years, giving you 6 years from the date of grant of the original visa.
Do I Apply in Australia or Overseas?
You can either be in Australia or overseas when you lodge your application.
If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.
Applications can only be lodged online via the SkillSelect system.
State/Territory Nomination
This visa is only available to applicants who are nominated by an Australian State or Territory government.
Common Criteria
All applicants must meet the following criteria:
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Nomination by a state or territory government
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Invitation to apply through SkillSelect
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Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit
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Meet the pass mark in the Business Innovation and Investment Points test (currently 65)
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Have an overall successful career in business or investment
Business Innovation Stream Requirements
This option requires you to have owned a business and to be intending to establish business operations in Australia. You will need to meet the following if you are applying through the Business Innovation Stream:
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Ownership of a business with turnover of at least AUD 500,000 for 2 of the last 4 fiscal years.
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Net personal and business assets of at least AUD 800,000
Investor Stream Requirements
This option requires you to have managed investments or owned a business, and to be willing to invest AUD 1.5 million in Australian State or Territory Government bonds. If you are applying for the Investor Stream, the requirements are as follows:
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You have had business and personal net assets of at least AUD 2.25 million for the last 2 fiscal years
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You must make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
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You have 3 years of experience either managing a qualifying business or "eligible investments", and have showed a high level of management skill
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For at least 1 of the last 5 fiscal years, you have either:
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Managed a business in which you hold a 10% shareholding; or
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Managed "eligible investments" of at least AUD 1.5 million
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"Eligible investments" for the purposes of the Investor Stream include:
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Ownership interests in a business
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Cash on deposit
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Stocks or bonds
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Real estate
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Gold or bullion
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Loan to a business
Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.
If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration, and can discuss with you the best way to proceed with your application.
