Business Innovation & Investment Visa (Subclass 188)
The Business Innovation and Investment (Provisional) visa (Subclass 188) allows visa holders to:
- own and manage a business in Australia,
- conduct business and investment activity in Australia, and
- undertake entrepreneurial activity in Australia.
The Subclass 188 streams include:
- Business Innovation stream,
- Investor stream,
- Significant Investor stream,
- Business Innovation Extension stream,
- Significant Investor Extension stream,
- Premium Investor stream, and
- Entrepreneur stream.
Each Subclass 188 stream has its own mutual eligibility requirements:
- Must not have a history of involvement in unacceptable activities,
- Have functional English language skills,
- Meet the health and character requirements,
- Sign the Australian values statement,
- Have no debt to the Australian Government, and
- Not have had a visa cancelled or a previous application refused.
1. Business Innovation Stream
The Subclass 188 Business Innovation stream is for people with business skills, allowing applicants to operate a new or existing business in Australia.
It also allows applicants to bring eligible family members to Australia, and to apply for the Permanent Business Innovation and Investment visa (Subclass 888).
To be eligible for the Business Innovation stream, applicants must:
- Be nominated (by an Australian State or Territory Government Agency),
- Have business ownership,
- Own personal and business assets,
- Score at least 65 on the points test,
- Have a successful business career, and
- Be under 55 years old.
2. Investor Stream
The Subclass 188 Investor stream requires applicants to invest at least AUD2.5 million in Australian investments that meet certain requirements, while also maintaining business and investment activity in Australia.
It also allows applicants to bring eligible members to Australia, and to apply for the Subclass 888 Investor stream (permanent).
To be eligible for the Investor stream, applicants must:
- Be nominated (by an Australian State or Territory Government Agency),
- Own and manage business and personal assets and investments,
- Have the right experience,
- Score at least 65 on the points test,
- Intend to live in a specific State or Territory, and
- Be under 55 years old.
3. Significant Investor Stream
The Subclass 188 Significant Investor stream is for applicants who can invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
With this visa stream, visa holders can carry out investment activity in Australia and apply for the Subclass 888 Significant Investor stream (permanent).
To be eligible for the Significant Investor stream, applicants must:
- Be nominated (by an Australian State or Territory Government Agency), and
- Be able to invest at least AUD5 million.
4. Business Innovation Extension Stream
The Business Innovation Extension provisional visa allows Subclass 188 holders in the Business Innovation stream to extend their stay in Australia.
With this visa stream, visa holders can operate a new or existing business in Australia, bring eligible family members to Australia, and apply for the Subclass 888 Business Innovation stream (permanent).
To be eligible for the Subclass 188 Business Innovation Extension stream, applicants must:
- Hold a Subclass 188 Innovation stream, and have held it for at least three years (unless COVID-19 concessions apply),
- Demonstrate a need to be a resident in Australia to operate the main business,
- Have maintained an ownership interest in the nominated main business,
- Have maintained commitment to stay directly involved in the day-to-day management and decision-making of the business, and
- Be nominated (by an Australian State or Territory Government Agency).
5. Significant Investor Extension Stream
The Significant Investor Extension stream allows Subclass 188 Significant Investor stream visa holders to extend their stay in Australia for up to 4 more years.
With this visa stream, visa holders can carry out investment activity in Australia and apply for a Subclass 888 Significant Investor stream (permanent).
To be eligible for the Significant Investor Extension stream, applicants must:
- Have not held more than one Significant Investor Extension stream visa, and
- Continue to hold the complying significant investment.
6. Premium Investor Stream
The Subclass 188 Premium Investor stream is for applicants who are nominated by Austrade and who invest at least AUD15 million in Australian investments or philanthropic contributions.
With this visa stream, applicants can carry out business and investment activity in Australia, stay in Australia for up to 4 years and 3 months, and apply for the Subclass 888 Premium Investor stream (permanent).
To be eligible for the Premium Investor stream, applicants must:
- Be nominated by Austrade,
- Receive an invitation to apply (pending an accepted Expression of Interest from Austrade),
- Make a complying premium investment of at least AUD15 million,
- Have net assets of at least AUD15 million, and
- Agree not to bring action against the Commonwealth.
7. Entrepreneur Stream
The Subclass 188 Entrepreneur stream is for start-up and early-stage entrepreneurs who have been endorsed to develop their concepts and have been nominated by a State or Territory Government Agency.
With this visa stream, applicants can carry out entrepreneurial activity in Australia, bring family members to Australia, and apply for the Subclass 888 Entrepreneur stream (permanent).
To be eligible for the Entrepreneur stream, applicants must:
- Receive an invitation to apply (pending an accepted Expression of Interest from an Australian State or Territory Government Agency),
- Be nominated (by an Australian State or Territory Government Agency),
- Be under 55 years old,
- Have a complying entrepreneur activity, and
- Be endorsed by a recognised body and receive funding from an approved entity (if invited to apply on or after 1 July 2021).
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