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

This visa is for those who want to own and manage a new or existing business in Australia, or to invest in Australia. This visa is the first stage before becoming eligible to quality for the Business Innovation and Investment (Permanent) visa (Subclass 888).

Who is eligible for the Business Innovation and Investment (Provisional) visa (Subclass 188)?

The applicant must:

• Be nominated by a state or territory government and invited to apply
• Have a successful business or investment history
• Have adequate personal and business asset

The applicant must submit an expression of interest through SkillSelect , and be nominated by a state or territory government before being invited to apply for this visa.
Benefits of the Business Innovation and Investment (Provisional) visa (Subclass 188)

This visa allows the applicant to:

• Establish a new or develop an existing business and/or invest in Australia
• Travel in or out of Australia for the length of the visa
• Bring family members to Australia as long as they meet the family unit requirements
• Seek permanent residence by applying for the Business Innovation and Investment (Permanent) visa (Subclass 888).
Other requirements for the Business Innovation and Investment (Provisional) visa (Subclass 188)

The applicant must also score at least 65 points in the points test to be eligible to apply in the Business Innovation stream or the Investor stream. Points are awarded for:

• Age
• English language ability
• Qualifiations
• Experience in business or investment
• Net personal and business assets
• Business turnover
• Innovation
This visa is the first stage before becoming eligible to quality for the Business Innovation and Investment (Permanent) visa (Subclass 888) .

There are five streams the applicant can apply through:

• Business Innovation Stream: this is for people with business skills who want to establish, develop and manage a new or existing business in Australia
• Investor Stream: this is for people who want to make a designated investment of at least AUD$1.5million in a designated Australian state or territory bond, and maintain the investment for at least 4 years. state or territory, and maintain business activity in Australia
• Significant Investor Stream: this is for people who are willing to invest at least AUD$5million into complying investments in Australia and want to maintain that investment for four years.
• Premium Investor stream: this is for people who are willing to invest at least AUD$15million into complying investments or a business and want to maintain that investment or business for at least one year
• Entrepreneur stream: this is for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia

 

Business Talent (Permanent) visa (Subclass 132)

 

 

Business Innovation and Investment (Permanent) visa (Subclass 888)

Who is eligible for the Business Innovation and Investment (Permanent) visa (Subclass 888)?
To be eligible for this visa, the applicant must hold a Business Innovation and Investment (Provisional) visa (Subclass 188) and:

• Has met the requirements of the visa in the selected stream in which the applicant first applied
• Be nominated by a state or territory
Other requirements for the Business Innovation and Investment (Permanent) visa (Subclass 888)

An applicant may be able to apply for this visa if he/she:

• Is the holder of a Business Innovation and Investment (Provisional) visa (Subclass 188)
• Has met all the requirements of the stream in which they first applied
• Has not been involved in any unacceptable business or investment activities and have conducted their business lawfully
• Have been nominated by an Australian state or territory
• Meet all the health, age and character requirements

Other requirements may apply.
Business Innovation stream requirements:

If the applicant first applied through the Business Innovation stream, some of the following requirements will apply:

• That he/she held a Business Innovation and Investment (Provisional) visa (Subclass 188) in the Business Innovation stream for at least two years immediately before the application
• Must be able to show an ongoing business involvement, which amounts to having an annual turnover of at least AUD$300,000 for the year immediately before applying
• Must have upheld a transparent and ongoing relationship with the Australian Taxation Office

The applicant must also have met two out of the following three requirements:

• Net value of business assets of at least AUD$200,000
• A net value of personal and business assets of at least AUD$600,000
• Employed at least the equivalent of two full time employees who are not your family members and have eligible Australian citizenship status

Investor stream requirements:

If the applicant first applied through the Investor stream, some of the following requirements will apply:

• That he/she held a Business Innovation and Investment (Provisional) visa (Subclass 188) in the Investor stream for at least four years immediately before the application
• Held the designated investment in Australia for at least four years
• Has a solid record of lawful transactions including regarding taxation, workplace relations and superannuation
• Has not been involved in any unacceptable business activities
• Has a commitment to maintain the business or investment activity in Australia

Significant Investor stream requirements:

If the applicant first applied through the Significant Investor stream, some of the following requirements will apply:

• Must have held a Business Innovation and Investment (Provisional) visa (Subclass 188) in the Significant Investor stream for 160 days in the past four years
• Must have held the complying investments continuously for at least four years while on the provisional visa
• A satisfactory record of complying with Australian laws
• Has not been involved in unacceptable business activities
• Has a commitment to maintain the business or investment activity in Australia

Premium Investor stream requirements:

If the applicant first applied through the Premium Investor stream, some of the following requirements will apply:

• Has held the subclass 188 visa in the Premium Investor stream for a continuous period of at least 12 months.
• Has held the premium investment or eligible business for at least 1 year.

Entrepreneur stream requirements:

If the applicant first applied through the Entrepreneur stream, some of the following requirements will apply:

• Has held the subclass 188 visa in the Entrepreneur stream for at least 4 years
• Has resided in Australia for at least 2 years of the 4 years
• Demonstrated overall successful record of undertaking business or activities of an entrepreneurial nature
Benefits of the Business Innovation and Investment (Permanent) visa (Subclass 888)

This is a permanent visa that allows the applicant to manage their business and investments in Australia. It allows the applicant to:

• Stay, work and study in Australia indefinitely
• Enrol in Medicare
• Apply for Australian citizenship when eligible
• Sponsor eligible relatives for permanent residence

It also allows for the visa applicant to include dependent children and other dependent relatives on the application, if they fulfil the requirements of being a member of the family unit.