Business Innovation & Investment (188)


The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme.

This temporary visa is issued for 4 years for Business owners intending to establish business operations in Australia or purchase an existing business.

This visa is the first stage to get a Permanent Residence visa in Australia.

There is an option of getting the extension of this visa by an extra 2 years. This becomes available when you have held the subclass 188 visa for no less than 3 years. Otherwise stated, it is possible to extend one’s stay to 6 years from the date of the original visa issuing.

Before being invited to apply for this visa you must firstly submit an Expression of Interest (EOI) through SkillSelect and then be nominated by a state or territory government or Austrade on behalf of the Australian government.

The visa embodies four streams:

Getting this visa is the first stage of becoming pertinent to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

Business Innovation stream main criteria:

Nomination by a State/territory government

One of the most important requirements is that the visa nominee is required to be nominated by an Australian State or Territory government (example Victoria, New South Wales, Western Australia, Australian Capital Territory, etc)

Innovation Points test

It is required that the visa applicant scores a minimum 65 on the Innovation Points test. Points are awarded for:

Investor stream principal criteria:
This option is for t Business professionals having managed investments or owned a business and wanting to invest AUD 1.5 million in a Australian State or Territory Government bonds

The investor stream applicants must meet the following requisitions:

Nomination by a State/territory government
Like Subclass 188 Innovation Stream, it is required that the applicants for the Investment Stream are nominated by an Australian State or Territory government (example Victoria, New South Wales, Western Australia, Australian Capital Territory, etc)

Investment Points test
The applicants must score at least 65 on the Innovation Points test. Points are awarded for:

Significant Investor stream main criteria:
This is a temporary visa given for 4 years. After maintaining an investment in Australia for 4 years, you are permitted to apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888visa.

The applicants must meet the following criterion, besides meeting the common criteria for all the Business Innovation and Investment (subclass 188) stream visas, for the Significant Investor visa to be issued:

Advantages:

Complying Investment

A “complying investment” for the purposes of the Significant Investor Visa includes:

Premium Investor principal criteria:
The Premium Investor stream is by invitation of Austrade on behalf of the Australian government only. A complying investment of at least AUD15 million must be made. Options are the following:

Income that you earn from your complying investment in Australia is subject to tax under Australian taxation law.

You must also have a genuine and realistic commitment to continue your business and investment activity in Australia after the conclusion of your provisional visa.

You, your partner (spouse or de facto), or you and your partner combined must have net assets of at least AUD15 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.

You and your partner must not have been involved in unacceptable business or investment activities.

You, your partner and other family members aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment.