The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme.
You must submit an Expression of Interest (EOI) through Skill Select and be nominated by a state or territory government or Austrade on behalf of the Australian government before being invited to apply for this visa.
The visa includes four streams:
Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).
To be able to apply for this visa, you must first submit an Expression of Interest (EOI) and then be invited through SkillSelect to apply.
You may then be nominated before being invited to apply.
Your EOI must specify:
Business Innovation stream visa – Subclass 188A
The Business Innovation Stream is designed for business owners with overall successful business career who intend to establish business operations in Australia. They will need to meet at least the following specific requirements:
If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.
At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD 1,250, 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
You and your partner must have had no involvement in unacceptable business or investment activities.
Investor stream visa – Subclass 188B
This stream is designed for successful investors and business people who are willing to invest at least AUD1.5 million in Australian State or Territory Government bonds. Key criteria include:
You, your partner, or you and your partner combined must:
Income that you earn from your designated investment in Australia is subject to tax under Australian taxation law.
Significant Investor stream visa – Subclass 188C
Unlike other business migration categories, there is no upper age limit for this type of visa.
For grant of the visa, applicants must make an investment of at least AUD 5 million in a “complying investment”. A “complying investment” for the purposes of the Significant Investor Visa must be made up of:
Entrepreneur stream visa – Subclass 188E
If you need to apply for a visa and want the process as smooth of an experience possible, talk with one our Migration Experts. Alongside their expert knowledge about migration laws they will make sure your application goes through quickly so that all eyes can stay on what really matters you.
You can be confident in your decision to get assistance from Parish Patience as an immigration lawyer. Our team of experts will provide you with the best service and advice possible for all visa needs, so don’t hesitate any longer!
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