Business Innovation and Investment (provisional) visa (subclass 188)

"Following information is only valid up to 30/06/2021. From 1 July 2021 Reformed Business Visa will be implemented"

Business Innovation and Investment (provisional) visa (subclass 188) visa allows investor and business owners to own and manage a business, conduct business and investment activity or entrepreneurial activity in Australia. This is a temporary visa valid for 4 years and 3 months. This visa required you to be nominated by an Australian State or Territory government agency.

There are 5 eligibility streams:

  • Business Innovation stream
  • Investor stream
  • Significant Investor stream
  • Premium Investor stream
  • Entrepreneur stream

Business Innovation stream (188A)

This visa stream is for those business people seeking to operate a new or existing business in Australia. Visa holder will be eligible for a permanent residence visa through Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met. This temporary visa could be extended for another 2 years, if extension granted then this visa will let you stay in Australian for 6 years from the date of the original have been granted. this visa also is known as “Subclass 188 A”.

Eligibility:

  • You must operate a new or existing business in Australia.
  • Submit an expression of interest (EOI) in Skill Select
  • must be nominated by an Australian State or Territory government agency
  • Must be invited to apply for this visa
  • Meet at least 65 points on the points test
  • Under 55 years old at the time of invitation to apply (conditions apply)
  • Ownership of 1 or 2 business with a turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years immediately before you receive an invitation to apply
  • Own at least 51% to 10% of the total values of the business depending on the turnover and business structure.
  • Net personal and business assets of at least AUD 800,000 which could be transferred to Australia within 2 years.
  • Must have a successful business career
  • Must have genuine intention to own and manage a business in Australia.
  • At least Functional English or pay the second VAC
  • Meet the health and character requirements of the Australian government.

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Note: Business migration could be very complex and challenging to determine the prospect of the application. Visa prospect also depends on the state, territory and federal governments policies, which is changing frequently. If you like us to check your eligibility for business migration and assist you for this visa application, please book an appointment with us.

Investor stream (188B)

This is a temporary visa valid for 4 years and 3 months. This visa requires you to make an investment of at least AUD1.5 million in an Australian State or Territory Government bonds. This visa required you to be nominated by an Australian State or Territory government agency. This temporary visa could not be extended, if required then you need to apply for a new visa. Visa holder will be eligible for a permanent residence visa through Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met. this visa also is known as “Subclass 188 B”.

Eligibility:

  • must be nominated by an Australian State or Territory government agency
  • must be invited to apply for this visa
  • meet at least 65 points on the points test
  • under 55 years old at the time of invitation to apply (conditions apply)
  • for at least 1 of the 5 fiscal years immediately before the invitation to apply, you have either:
  • ~~ Directly managed a business in which you hold a 10% ownership interest, or
  • ~~ Directly managed "eligible investments" of at least AUD 1.5 million
  • have had business and personal net assets of at least AUD 2.25 million for the last 2 fiscal years
  • must have 3 years of experience either managing a qualifying business or eligible investments, have a successful record and demonstrated a high level of management skill
  • must have a genuine intention to live for at least 2 years in that specific State or Territory in Australia.
  • at least Functional English or pay the second VAC
  • meet the health and character requirements of the Australian government.

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Note: Business migration could be very complex and challenging to determine the prospect of the application. Visa prospect also depends on the state, territory and federal governments policies, which is changing frequently. If you like us to check your eligibility for business migration and assist you for this visa application, please book an appointment with us.

Significant Investor stream (188C)

This is a temporary visa valid for 4 years and 3 months. This visa requires you to make an investment of at least AUD 5 million in Australia and maintain for 4 years. This visa also required you to be nominated by an Australian State or Territory government agency or Austrade. This temporary visa could not be extended, if required then you need to apply for a new visa, which could be applied for 2 times and if granted then this visa will let you stay in Australian for 8 years from the date of the original have been granted. Visa holder will be eligible for a permanent residence visa through the Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met. This visa also is known as “Subclass 188 C”.

Advantages of this stream:

  • There are no upper age requirements
  • No point test
  • Only need to spend only 40 days (calculated cumulatively) in Australia per year, or
  • Your spouse only needs to spend only 180 days (calculated cumulatively) in Australia per year for your permanent visa residence requirements


Eligibility:

  • must be nominated by an Australian State or Territory government agency or Austrade
  • must be invited to apply for this visa
  • must invest in total at least AUD 5 million
  • ~~ at least AUD500,000 in venture capital and growth private equity funds
  • ~~ at least AUD1.5 million in approved managed funds
  • ~~ least AUD 3 million in managed funds
  • have a genuine intention to hold that investment for at least 4 years
  • at least Functional English or pay the second VAC
  • meet the health and character requirements of the Australian government.


Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Note: The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate. Direct investment in residential real estate is prohibited also immigration strictly limit indirect investment in residential property through managed funds.

Business migration could be very complex and challenging to determine the prospect of the application. Visa prospect also depends on the state, territory and federal governments policies, which is changing frequently. If you like us to check your eligibility for business migration and assist you for this visa application, please book an appointment with us.

Premium Investor stream (188D)

This is also a temporary visa valid for 4 years and 3 months. This visa requires you to make an investment of at least AUD 15 million in Australia and nominated by Austrade. This temporary visa could not be extended, if required then you need to apply for a new visa. Visa holder will be eligible for a permanent residence visa through the Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream if certain requirements are met. This visa also is known as “Subclass 188 D”.

Advantages of this stream:

  • There are no upper age requirements
  • No point test
  • No minimum residence requirements for the permanent residence visa
  • Only after 1 year, you can apply for the permanent residence visa


Eligibility:

  • must be nominated by Austrade
  • must be invited to apply for this visa
  • must invest in total at least AUD 15 million in eligible sectors
  • must agree not to bring any action against the Commonwealth for any loss relating to your complying premium investment.
  • must have net assets of at least AUD15 million. These assets could belong to you, your partner, or you and your partner combined.
  • at least Functional English or pay the second VAC
  • meet the health and character requirements of the Australian government.


Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

Note: Business migration could be very complex and challenging to determine the prospect of the application. Visa prospect also depends on the state, territory and federal governments policies, which is changing frequently. If you like us to check your eligibility for business migration and assist you for this visa application, please book an appointment with us.

Entrepreneur stream (188E)

This is also a temporary visa valid for 4 years and 3 months. This visa requires you to undertake or propose to undertake a complying entrepreneur activity relate to an innovative idea lead to the commercialisation of a product or service or the development of an enterprise or business in Australia.

Visa holder will be eligible for a permanent residence visa through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain requirements are met. This visa also is known as “Subclass 188 E”.

Eligibility:

  • must be nominated by an Australian State or Territory government agency
  • must be invited to apply for this visa
  • under 55 years old at the time of invitation to apply (conditions apply)
  • funding agreement of at least AUD200,000 from an approved entity for entrepreneurial activity
  • must have held at least 30% interest in your entrepreneurial entity
  • must have Competent English
  • meet the health and character requirements of the Australian government


Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

Note: Entrepreneur activity must not relate to any residential real estate, labour-hire, purchase of an existing enterprise or a franchise in Australia

This stream could be appropriate for the adult child with competent English of a wealthy businessman, where the child has access to over $250,000.00-$300,000.00 in funds to finance this provisional visa application. Visa applicant can form agreements with eligible Australian based Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership, which would provide the legal agreements to receive funding of at least AUD200 000.

If you like us to check your eligibility for business migration and assist you for this visa application, please book an appointment with us.

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