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

• Business Innovation stream: for a person who wants to establish or develop, own and manage a new or existing business in Australia.
• Investor stream: for a person who is willing to invest at least AU$2,500,000.00 in certain investments in Australia and maintain business and investment activity in Australia.
• Significant Investor stream: for a person who is willing to invest at least AU$5,000,000.00 in certain investments in Australia and maintain business and investment activity in Australia.

You must submit an Expression of Interest (‘EoI’) through SkillSelect and be nominated by a State or Territory Government before being invited to apply for a Business Innovation and Investment (Provisional) (Subclass 188) visa. You can submit an EoI from outside or inside Australia.

Each stream of the Subclass 188 visa also has its own criteria that you must satisfy:

Business Innovation stream:

• You are under 55, although a State or Territory can waive this requirement if your proposed business will be of exceptional economic benefit;
• You score at least 65 points in the points test;
• The annual turnover of your main business (or two main businesses combined) was at least AU$750,000.00 in at least two of the four fiscal years immediately before you are invited to apply;
• You (or your partner, or you and your partner combined) hold net personal and business assets of AU$1,250,000.00 that can be legally transferred to Australia within two years of the visa being granted for your business activity;
• You (or your partner, or you and your partner combined) must have owned at least:
  • 51 per cent of a business with turnover of less than AU$400,000 per annum, or
  • 30 per cent of a business with turnover of more than AU$400,000 per annum, or
  • 10 per cent of a publicly-listed company
• You (or your partner, or you and your partner combined) had an overall successful business career with no involvement in unacceptable business activities;
• You (or your partner, or you and your partner combined) managed a business, in which you spent less than half your time on professional, technical or trade services;
• You (or your partner, or you and your partner combined) have a strong desire to own and maintain a management role in a business in Australia;
• You (or your partner, or you and your partner combined) need to reside in Australia to establish or conduct the proposed business activity.

Please note that the above list is not exhaustive and other criteria may apply.

If you apply for the Investor stream, you (or your partner, or you and your partner combined) must:

• You are under 55, although a State or Territory can waive this requirement if your proposed business will be of exceptional economic benefit;
• You score at least 65 points in the points test;
• You have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities;
• You have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
• You (or your partner, or you and your partner combined) are willing to invest AU$2,500,000.00 in a State or Territory Government security, are willing to hold that investment for at least for four years, and you genuinely intend to live in the State or Territory in which you have invested for at least two years
• You (or your partner, or you and your partner combined) have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.
• You have 3 years’ experience in directly managing certain businesses or eligible investments
• Over the last two fiscal years, you and/or your partner have acquired net personal and business assets of AU$2,250,000.00 that can be transferred to Australia for your investment and/or business activity;
• In one of the last five fiscal years, you (or your partner, or you and your partner combined) have directly managed either a certain type of business in which you and/or your partner hold a 10% shareholding or an eligible investment owned by you and/or your partner which has a value of AU$2,500,000.00.

You (or your partner, or you and your partner combined) must also have had one of the following:

• direct involvement, for at least one of the five fiscal years you are invited to apply, in managing your eligible investments that total at least AU$2,500,000or
• direct involvement, for at least one of the five fiscal years before you are invited to apply, in managing a qualifying business in which you owned at least 10 percent of the total value of the business.

Please note that the above list is not exhaustive and other criteria may apply.

Significant Investor stream

• You (or your partner, or you and your partner combined) are willing to invest AU$5,000,000.00 in certain investments in Australia and maintain business and investment activity in Australia, and you genuinely intend to live in the State or Territory which nominated you.

If you require any further information regarding Australian business visas, need help in obtaining them, or need assistance with any other matters related to immigration to Australia, please book a preliminary interview.