Australia
Australia is a developed country with a reputation for being welcoming to migrants, having a strong economy with well-paid jobs, and a high standard of living. Experience Australia’s unique culture and great weather.
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Business Innovation and Investment (Provisional) visa (subclass 188)
The Business Innovation and Investment Visa (subclass 188) is a provisional visa that allows candidates to live and work in Australia. The applicant must submit an Expression of Interest (EOI) with SkillSelect and be nominated by the state, territory government or an Australian agency before they are eligible to apply for this visa. Holders of this visa can:
- invest in Australia
- establish, develop and own a new or existing business in Australia
- conduct entrepreneurial activity (operate, invest or finance) in Australia
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Eligibility Criteria
Candidates can only apply for this visa if they receive an invitation from Australia’s SkillSelect. In order to receive an invite, candidates must:
- Submit an Expression of Interest (EOI)
- Be nominated by the Australian state, territory government or Austrade
- Be debt-free to the Australian government
- Meet the English language requirements
- Be less than 55 years of age
- Pass the medical and character requirements
- Prove a successful business track record
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Business Visa Streams
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Business Innovation stream
This stream is suitable for those with business acumen, who want to develop and operate a new or existing business in Australia. Successful applicants must be nominated by an Australian state or territory government agency.
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Investor stream
Under this stream, the 188 provisional visa holder must own a designated investment amount of AUD 1.5 million for a time span of at least 4 years and must show ongoing business activity in an Australian state or territory government. Successful applicants must be nominated by an Australian state or territory government agency.
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Significant Investor stream
This stream is suitable for those applicants who can invest a minimum of AUD 5 million in a complying significant investment and is willing to maintain business and investment activities in Australia. Applicants under this stream must be nominated by a state or territory government or Austrade.
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Premium Investor stream
This stream is suitable for those applicants who can invest a minimum of AUD 15 million in a complying premium investment and is willing to maintain business and investment activities in Australia. Applicants under this stream must be nominated by a state or territory government or Austrade.
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Entrepreneur stream
Successful applicants under this stream must show a funding agreement from a third party for a minimum amount of AUD 200,000 to participate in an acceptable entrepreneurial activity that facilitates the commercialization of a product or service in Australia or the development of a business in Australia. Applicants under this stream must be nominated by a state or territory government or Austrade.
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Process
The subclass 188 visa takes approximately 20 to 23 months to process.
