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

This visa has multiple streams which allows applicants with business, investment or entrepreneurial skills conduct or own business, investment or entrepreneurial activity in Australia and stay temporarily.

The streams are:

• Business innovation stream
• Investor stream
• Significant investor stream
• Premium investor stream
• Entrepreneur stream

There are also extension streams available for this visa.

What can you do with a Subclass 188 Visa?

• Stay in Australia for up to 4 years 3 months
• Apply for permanent residence via the Subclass 888 visa
• Include family members on your application
• Carry out business, investment or entrepreneurial activity in Australia

Key Eligibility Criteria

• Have submitted an expression of interest (EOI) in SkillSelect
• Be nominated by a State or Territory government agency
• OR be nominated by Austrade
• Be invited to apply for the visa
• Meet health and character requirements

For the Business innovation stream, you must also

• Have a score of 65 or more on the points test
• Have proof of business success
• Have net business and personal assets of at least AUD800,000

For the Investor stream, you must also

• Have a score of 65 or more on the points test
• Invest AUD 1.5 million or more in an Australian State or Territory
• Have net business, investment and personal assets of at least AUD 2.24 million

For the Significant Investor stream, you must also

• Invest at least AUD 5 million and intend to hold that investment for at least for 4 years

For the Premium Investor stream, you must also

• Invest at least AUD15 million in Australian investments and intend to hold that investment for the whole period of the visa

For the Entrepreneur stream, you must also

• Have competent English
• Have a funding agreement of at least AUD200,000 to carry out entrepreneurial activity in Australia and have a business plan for that activity.

Application Process

1. Check your eligibility
2. Submit an EOI and receive a valid nomination
3. Organise health exams
4. Inform the Department of Home Affairs if you are planning to engage the services of a registered migration agent to help you apply for the visa
5. Gather relevant documents (identity, assets, family members on application etc.)
6. Apply for visa online via ImmiAccount
7. Pay the application fee
8. Wait, and be notified of outcome (case-by-case)