Australia Business Innovation and Investment (Provisional) Visa (Subclass 188): A Guide for Entrepreneurs and Investors

Overview of Subclass 188 Visa

If you are looking to invest or start a business in Australia, the Business Innovation and Investment (Provisional) visa (subclass 188) might be the right visa for you. This visa allows you to own and manage a business in Australia, or to invest in an Australian business.

The subclass 188 visa is a provisional visa that allows you to stay in Australia for up to four years. It has five streams, each with its own set of requirements:

  1. Business Innovation stream: for people who want to own and manage a new or existing business in Australia.

  2. Investor stream: for people who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business and investment activity in Australia.

  3. Significant Investor stream: for people who are willing to invest at least AUD 5 million into complying significant investments in Australia and want to maintain business and investment activity in Australia.

  4. Premium Investor stream: for people who are willing to invest at least AUD 15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia.

  5. Entrepreneur stream: for people who have a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialization of a product or service in Australia or the development of a business in Australia.

To be eligible for the subclass 188 visa, you must meet the following general requirements:

  • Be nominated by an Australian state or territory government or Austrade.
  • Be invited to apply for the visa.
  • Meet the health and character requirements.
  • Have sufficient funds to support yourself and your family while in Australia.

The subclass 188 visa is a pathway to permanent residency in Australia. After holding the subclass 188 visa for a certain period of time, you may be eligible to apply for the Business Innovation and Investment (Permanent) visa (subclass 888).

Overall, the subclass 188 visa is a great option for those who want to invest or start a business in Australia. It provides a pathway to permanent residency and allows you to enjoy the benefits of living and working in Australia.

Eligibility Criteria

To be eligible for the Business Innovation and Investment (Provisional) visa (subclass 188), you must meet certain criteria. This visa is designed for individuals who want to own or manage a new or existing business in Australia, or invest in Australia.

Points Test

To be eligible for this visa, you must score at least 65 points on the Points Test. The Points Test takes into account various factors, such as your age, business experience, ownership interest, business turnover, net business and personal assets, English language ability, and financial assets.

Health Requirements

You must also meet certain health requirements to be eligible for this visa. You may be required to undergo a health examination, which will be conducted by a panel of doctors approved by the Australian Government. The health examination will assess your general health, and may include tests for tuberculosis, HIV, and other infectious diseases.

In addition, you must not have any health conditions that would be a threat to public health or safety, or that would result in significant health care or community service costs. If you have any health conditions that may affect your eligibility for this visa, you should seek advice from a registered migration agent or the Department of Home Affairs.

Overall, the eligibility criteria for the Business Innovation and Investment (Provisional) visa (subclass 188) are designed to ensure that only eligible individuals are granted this visa. If you meet the eligibility criteria, you may be able to obtain this visa and start your business or investment in Australia.

Application Process

To apply for the Business Innovation and Investment (Provisional) visa (subclass 188), you must first submit an Expression of Interest (EOI) through SkillSelect. SkillSelect is an online service that allows skilled workers and business people to express their interest in migrating to Australia.

Once you have submitted your EOI, you may be invited to apply for the visa. If you are invited to apply, you will receive an email from the Department of Home Affairs with instructions on how to apply online.

To apply online, you will need to create an ImmiAccount, which is a secure online portal that allows you to manage your visa application. You can apply online through your ImmiAccount, and you will also be able to pay the application fee online.

The application fee for the Business Innovation and Investment (Provisional) visa (subclass 188) is AUD 7,880. This fee is non-refundable, even if your application is unsuccessful.

When you apply online, you will need to provide a range of documents to support your application. These documents may include a business plan, evidence of your business or investment experience, evidence of your net worth, and other documents as specified in the document checklist.

It is important to ensure that you provide all the required documents, as failure to do so may result in your application being refused. You should also ensure that all the information you provide is accurate and complete.

Once you have submitted your application, the Department of Home Affairs will assess your application and may request additional information or documents if necessary. If your application is successful, you will be granted a Business Innovation and Investment (Provisional) visa (subclass 188) and will be able to live, work and study in Australia for up to four years.

Business Innovation Stream

The Business Innovation Stream of the Australia Business Innovation and Investment (Provisional) visa (subclass 188) is designed for those who want to own and manage a new or existing business in Australia. To be eligible for this visa, you must have a successful business career and a genuine desire to own and manage a business in Australia.

To qualify for the Business Innovation Stream, you must meet certain business innovation qualifications, such as having a successful business career, having a minimum net worth of AUD 800,000, and having a minimum of AUD 200,000 in business assets. You must also be under the age of 55, have a score of at least 65 on the innovation points test, and be nominated by a state or territory government agency.

Once you have been granted the Business Innovation Stream visa, you will be able to carry out a range of business activities in Australia, including establishing, developing, and managing a business. You will also be able to undertake research and development activities, and apply for patents and trademarks.

If you are successful in establishing a business in Australia, you may be eligible to apply for permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888). This visa allows you to continue to operate your business in Australia and enjoy all the benefits of permanent residency.

In summary, the Business Innovation Stream of the Australia Business Innovation and Investment (Provisional) visa (subclass 188) is a great opportunity for those with a successful business career to own and manage a business in Australia. If you meet the eligibility criteria, you could be on the path to permanent residency and a successful business venture in Australia.

Investor Stream Options

If you are looking to invest in Australia or start a business in the country, the Business Innovation and Investment (Provisional) visa (subclass 188) may be the right option for you. This visa allows you to stay in Australia for up to four years and three months while you establish your business or invest in an existing one. There are several options available under the Investor Stream, including the Entrepreneur Stream.

Entrepreneur Stream

The Entrepreneur Stream is designed for those who want to start a new business in Australia. To be eligible for this stream, you must have a funding agreement of at least AUD200,000 from a third party to start the business. You must also have a business plan that outlines your proposed business activity and how it will benefit Australia. Additionally, you must be under 55 years of age, and have a competent level of English language proficiency.

Under the Entrepreneur Stream, you can apply for permanent residency after establishing your business in Australia. To be eligible for permanent residency, you must have held a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur Stream for at least two years. You must also be able to demonstrate that your business has been actively operating for at least two years, and that it has met certain financial benchmarks.

Overall, the Entrepreneur Stream is a great option for those who want to start a new business in Australia. With the right funding and business plan, you can establish a successful business in the country and potentially gain permanent residency.

State and Territory Involvement

State and territory governments in Australia play a significant role in the Business Innovation and Investment (Provisional) visa (subclass 188) program. Each state and territory government has its own criteria and requirements for nominating applicants for this visa.

Victoria, Queensland, Western Australia, South Australia, Tasmania, and the Northern Territory are all involved in the program. They have their own state or territory government agencies that are responsible for managing the nomination process for the Business Innovation and Investment (Provisional) visa (subclass 188).

Regional NSW is also involved in the program. The NSW government has created a separate category for applicants who want to live and work in regional NSW. This category is known as the NSW Regional Business Migration (188) visa.

To be nominated by a state or territory government, you must meet their specific criteria and requirements. These may include having a certain level of business or investment experience, having a certain amount of capital to invest, or having a business plan that aligns with the state or territory’s economic priorities.

Once you have been nominated by a state or territory government, you can then apply for the Business Innovation and Investment (Provisional) visa (subclass 188) through the Department of Home Affairs. If your application is successful, you will be granted a provisional visa that is valid for four years.

During this time, you will need to meet certain requirements to be eligible for a permanent visa. These may include investing in a business in Australia, maintaining a certain level of business activity, or meeting other criteria set by the Department of Home Affairs.

Overall, the involvement of state and territory governments in the Business Innovation and Investment (Provisional) visa (subclass 188) program provides applicants with additional opportunities to live and work in Australia. By meeting the specific criteria and requirements of each state or territory government, you can increase your chances of being nominated for this visa and ultimately achieving your goals of doing business in Australia.

Post-Visa Grant Information

Congratulations on receiving your Australia Business Innovation and Investment (provisional) visa (subclass 188)! Now that you have been granted this visa, there are a few important things you should know.

Firstly, your visa allows you to stay in Australia for up to four years and three months. If you wish to stay longer, you can apply for a subclass 888 visa, which is a permanent residency visa. To be eligible for this visa, you must have held your subclass 188 visa for at least three years and met certain requirements.

During your stay in Australia, you are allowed multiple entries and can travel in and out of the country as many times as you need. However, it is important to note that you must comply with all workplace laws and regulations while working in Australia. This includes having the correct work permits and visas, as well as adhering to minimum wage and working hour requirements.

Additionally, you are required to have health insurance during your stay in Australia. This is to ensure that you have access to medical treatment if you need it. It is important to choose a health insurance plan that meets your needs and provides adequate coverage.

In summary, the Australia Business Innovation and Investment (provisional) visa (subclass 188) is a great opportunity for those looking to invest and do business in Australia. With the option to apply for permanent residency and multiple entries, this visa provides flexibility and long-term benefits. Just be sure to comply with workplace laws and regulations and have adequate health insurance during your stay.

Acknowledgement of Traditional Custodians

When applying for the Australia Business Innovation and Investment (provisional) visa (subclass 188), it is important to acknowledge the Traditional Custodians of the land and sea on which you will be living and conducting business. Australia has a rich and diverse cultural heritage, with Aboriginal and Torres Strait Islander cultures dating back over 60,000 years.

The Traditional Custodians have a deep connection to the land and sea, and their cultures are an integral part of Australia’s identity. By acknowledging and respecting their connection to the land and sea, you can demonstrate your commitment to building strong relationships with the local community.

As an applicant for the subclass 188 visa, you should familiarize yourself with the local customs and protocols of the Traditional Custodians. This can include learning about their cultural practices, such as their art, music, dance, and language.

It is also important to recognize the ongoing contributions of Aboriginal and Torres Strait Islander Elders to Australian society. These Elders have a wealth of knowledge and experience that can be invaluable to your business endeavors.

In summary, acknowledging the Traditional Custodians of the land and sea is an important step in building strong relationships with the local community and demonstrating your commitment to respecting and valuing Australia’s rich cultural heritage.

Frequently Asked Questions

What are the requirements for an Australia Investor visa?

To be eligible for an Australia Investor visa, you must be nominated by an Australian State or Territory government agency and meet certain requirements. These include having a successful business or investment career, having a genuine intention to invest or start a business in Australia, and meeting health and character requirements. Additionally, you must be under 55 years of age, unless you are nominated by a state or territory government.

What is the minimum investment amount for subclass 188 visa in Australia?

The minimum investment amount for the Australia Business Innovation and Investment visa (subclass 188) is AUD 1.5 million. This investment can be made in an Australian state or territory government bond, eligible managed funds, or direct investment in an Australian business.

Is the Australia Business Innovation and Investment visa (subclass 188) a permanent residency visa?

The Australia Business Innovation and Investment visa (subclass 188) is a temporary visa that allows you to stay in Australia for up to four years. However, if you meet certain requirements, you may be eligible to apply for a permanent residency visa through the Business Innovation and Investment (Permanent) visa (subclass 888).

What is the processing time for subclass 188B visa in Australia?

The processing time for the Business Innovation Stream (subclass 188B) visa can vary depending on individual circumstances and the complexity of the application. However, the Department of Home Affairs aims to process 75% of subclass 188 visa applications within 13 months.

What is the cost of a Business visa in Australia?

The cost of an Australia Business Innovation and Investment visa (subclass 188) can vary depending on the stream you apply for. The Business Innovation Stream (subclass 188A) visa costs AUD 5,375, while the Investor Stream (subclass 188B) visa costs AUD 7,880. The Significant Investor Stream (subclass 188C) visa costs AUD 8,775, and the Premium Investor Stream (subclass 188D) visa costs AUD 105,000.

Can I work in Australia with a subclass 188 visa?

Yes, you can work in Australia with a subclass 188 visa. The Business Innovation Stream (subclass 188A) and Investor Stream (subclass 188B) visas allow you to work in your nominated business or investment activity in Australia. The Significant Investor Stream (subclass 188C) and Premium Investor Stream (subclass 188D) visas do not have any work requirements.

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