Business Innovation & Investment Visas
This visa enables you to carry out business management, investment, and entrepreneurial activities in Australia.
Australian PR through the subclass 188 visa
Business Innovation and Investment (provisional) visa (subclass 188)
This state-nominated visa for entrepreneurs, business owners, and investors allows for temporary residence. The first of a two-step process leading to permanent residency.
You can be qualified to apply for the Business Innovation and Investment (Permanent) visa, subclass 888, after three years on a Business Innovation and Investment (Provisional) subclass 188 visa. This program offers four different visa streams.
You can be qualified to apply for the Business Innovation and Investment (Permanent) visa, subclass 888, after three years on a Business Innovation and Investment (Provisional) subclass 188 visa. This program offers four different visa streams.
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These figures were last updated on MONDAY, 7th NOVEMBER 2022, at 3:45 PM GMT +4
Provisional visa - Subclass 188 Overview
Four streams are available to candidates for this visa:
1 - Business Innovation stream: Successful business people want to expand their operations in South Australia.
2 - Investor Stream: Successful business people or investors are ready to fund a compliant investment fund for the period of the provisional visa with AUD$2.5 million (or AUD$3.75 million if they are over 55 years old) and maintain it.
3 - Significant Investor Stream: Those prepared to make a $5 million AUD investment into a qualified investment fund throughout the validity of the provisional visa.
4 - Entrepreneur Stream: Individuals who a chosen service provider supports to engage in an entrepreneurial activity that complies with regulations and is intended to either result in the commercialization of a good or service in South Australia or the growth of a business there.
1 - Business Innovation stream: Successful business people want to expand their operations in South Australia.
2 - Investor Stream: Successful business people or investors are ready to fund a compliant investment fund for the period of the provisional visa with AUD$2.5 million (or AUD$3.75 million if they are over 55 years old) and maintain it.
3 - Significant Investor Stream: Those prepared to make a $5 million AUD investment into a qualified investment fund throughout the validity of the provisional visa.
4 - Entrepreneur Stream: Individuals who a chosen service provider supports to engage in an entrepreneurial activity that complies with regulations and is intended to either result in the commercialization of a good or service in South Australia or the growth of a business there.
- Create a new business, expand an existing one, invest in Australia, work with an Australian state or territory government to make a designated investment, or create and maintain compliant investments there.
- With your visa, you can enter and exit Australia.
- Apply for a Business Innovation and Investment (Permanent) Visa (subclass 888) to obtain permanent residence.
- Bring your family to Australia
- To submit expression of interest (EOI) in SkillSelect
- To be nominated by a State or Territory government agency or Austrade
- To be invited to apply for the visa
Those with proven experience in the business world and a desire to develop, lead, or expand a cutting-edge enterprise in Australia may qualify for a provisional visa. Are you one of those? Get in touch with us to benefit from our expert support.
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Business innovation Provisional (Subclass 188) visa streams
This visa enables those who have a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, as well as those who have a subclass 444 (Special Category) visa and certain subclass 457 (Business (Long Stay) visa holders, to stay in Australia permanently.
- Carry on any business endeavours you may have begun while holding a Business Innovation and Investment (Provisional) visa.
- Stay in Australia indefinitely
- Study and work in Australia
- Hold or, in some situations, must have held a subclass 457 visa, a special category visa, a business innovation and investment (provisional) visa in the business innovation stream, or a business innovation and investment (provisional) visa in the business innovation extension stream.
- Meet specific business criteria
- Possess a valid nomination from a state or territory government of Australia
This is a perpetual visa. It enables you to stay in Australia indefinitely.
For citizenship reasons, your permanent residency starts on the day:
- You are given the visa if you are in Australia
- You enter Australia on this visa if you are outside Australia when your visa approved
1 – Have this visa
You must be the primary holder of a: Unless COVID-19 concessions apply.
- Business Innovation stream of the Business Innovation and Investment (Provisional) visa (subclass 188). You must have held this visa for at least three years if you were invited to apply for it on or after July 1, 2021, or
- Visas for Special Categories (subclass 444). If you were issued a visa on or after July 1, 2021, you must have held it for at least three years, or
- (Provisional) Business Innovation and Investment Visa (subclass 188) Extension stream for business innovation, or
- Occasionally, a subclass 457 visa
You may also submit an application if you are the primary visa holder of a Business Innovation and Investment (Provisional) visa in the Business Innovation stream or the Business Innovation Extension stream and your spouse or common-law partner is the primary visa holder.
2- Be nominated
A valid nomination by a state or territory government agency is required.
You expressed interest in working with us when you applied for your Business Innovation and Investment (Provisional) visa. Your interest was noticed by a state or territory, which then nominated you.
There is no need for you to submit a fresh Expression of Interest. However, the state or territory must attest to the validity of your nomination.
- Territory of Australian Capital
- New South Australia
- New Northern Territory
- Queensland
- Australia’s South
- Tasmania
- Victoria
- Western Australia
3 – Own and manage business in Australia
In the two years before to applying, you must have:
- Had and continues to hold an ownership stake in up to two major Australian companies.
- Held an ongoing, direct managerial position in the business or enterprises in question.
- Australian Taxation Office received Business Activity Statements.
- A business number for Australia for each of your principal operations
You must have owned one of the following during the last 24 months before applying:
- 51 percent of a company’s overall value with an annual revenue of under AUD400,000, or
- 30% of the total value of a company with annual sales of at least AUD400,000, or
- 10% of the overall worth of a firm that is publicly traded and runs a business.
Business acquisition
If you acquired your primary business (or enterprises) from a candidate for or holder of:
- A permanent visa for business innovation and investment
- A business talent permanent visa (in subclasses 890, 891, 892 or 893)
You must demonstrate that you and that individual co-owned the company for at least a year prior to applying at the time of the acquisition.
4 – Have a $300,000 annual business revenue
In the 12 months preceding the application, the annual turnover of your primary business, or the primary business of your spouse or de facto partner, or the combined enterprises of you and your spouse or de facto partner, was at least AUD300,000.
If the nominating State or Territory government agency determines that there are exceptional circumstances, you may not be required to have a turnover of AUD300,000.
5- Fulfil the personnel and resource requirements.
You or your partner (or you and your partner together) must have evidence of at least two of the following for the 12 months before your application:
- Assets with a net value of AUD200,000 in your primary business (or primary enterprises) in Australia.
- Australian personal and business assets with a net value of AUD 600,000.
- Comparable to at least 2 eligible full-time employees in your primary business
Your employees must work in your primary business (or primary companies) in order for you to comply with the employee rule, and they must also:
- Be Australian nationals, Australian permanent residents, or possess valid passports from New Zealand.
- Not be relatives of yours
If the nominating State or Territory government agency determines that there are exceptional circumstances, you might not be required to meet the assets and employee criterion.
6 – Have functional English
Any dependant applicant who is 18 years of age or older and has less than functional English may be subject to an additional fee. If they are unable to demonstrate that they can speak English at a basic level, they will be required to pay the second instalment of the visa application fee when we ask you to.
If they have already paid a second instalment of the visa application fee in connection with an application for a Subclass 188 (Business Innovation and Investment (Provisional) visa), they will not be required to pay another one.
7 – Have followed Australian laws
You and your partner were conducting your firm in Australia in accordance with the following:
- Commonwealth regulations
- The rules of the countries or regions where your company did business
This comprises regulations governing finances, retirement benefits, and working conditions.
– Meet the residence requirement
– Not have been involved in unacceptable business activities
– Have a realistic commitment to continuing business activities
– Meet our health requirement
– Meet our character requirement
– Sign the Australian values statement
– Have no debt to the Australian government
– Not have had a visa cancelled or a previous application refusedÂ
Investor stream - Business Innovation and Investment (Permanent) visa (subclass 888)
With this visa, you can stay in Australia indefinitely and continue your investing activity.
- Stay in Australia indefinitely
- Study and work in Australia
- Enrol in Medicare, Australia’s universal health insurance program
- Invite your family members to visit Australia
- Travel in and out of Australia for 5 years
- Apply for Australian citizenship if you are eligible.
- A Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream, or in some situations, must have had one.
- Satisfy specific investment requirements related to your provisional visa.
- Hold a valid nomination from a state or territory in Australia
It is a long-term visa. It enables you to live permanently in Australia.
For citizenship, your permanent residency starts on the day:
- You are given the visa if you are in Australia
- You enter Australia on this visa if you are outside Australia when your visa approved
1 – Have this visa
You must be the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream, unless COVID-19 concessions apply. You must have held this visa for at least three years if you were invited to apply for it on or after July 1, 2021.
If your spouse or common-law partner is the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream and you have a secondary visa (subclass 188), you may also submit an application. You must have had your visa for at least three years if your spouse or de facto partner, who holds the primary visa, was asked to apply for their initial Business Innovation and Investment (Provisional) visa (subclass 188) on or after July 1, 2021.
2 – Be nominated
You must have a current nomination from a state or territory.
When you applied for your provisional visa, you gave us an Expression of Interest. A state or territory saw your Expression of Interest and nominated you.
There is no need for you to submit a fresh Expression of Interest. But, the state or territory needs to check that your candidacy is still current, for information see the Step by step tab
3 – Have held your complying and significant business
When we granted your Business Innovation and Investment (Provisional) visa, you would have made a AUD2.5 million investment in a “complying significant investment” if you were invited to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream on or after 1 July 2021.
You (or you and your spouse or de facto partner together) must meet the following requirements in order to be awarded a Business Innovation and Investment (Permanent) visa (subclass 888):
You must have held a “complying major investment” for the entire time you held your Business Innovation and Investment (Provisional) visa (subclass 188). Please let us know if you ever transferred money from one investment to another.
4 – Have held your designated investment
If you invested AUD1.5 million in an Australian state or territory before 1 July 2021, you were asked to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream. This is a “designated investment,” as we say.
Your specified investment must have been held for at least:
- If the provisional visa was granted based on an application submitted on or after July 1, 2015, 4 years; or
- If the provisional visa was issued based on an application submitted before to July 1, 2015, it will be valid for 3 years and 11 months.
Your chosen investment must have been continuously held in your name, or jointly in your name and the names of your spouse or de facto partner.
5- Fulfil the residency requirements
If you hold a Business Innovation and Investment (Provisional) visa (subclass 188) Investor stream and you were asked to apply before 1 July 2021, you must have physically resided in Australia for at least 2 of the 4 years prior to your application, unless COVID-19 concessions apply.
If you hold a Business Innovation and Investment (Provisional) visa (subclass 188) Investor stream and you were asked to apply on or after 1 July 2021, you must have physically resided in Australia for at least 2 years in the three years prior to your application.
In case you applied for this visa and are the secondary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream and your spouse or de facto partner is the primary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream, you must have physically resided in Australia for at least the following period of time, unless Covid-19 concessions apply:
If your spouse or de facto partner, who is the primary visa holder, was invited to apply for their initial Business Innovation and Investment (Provisional) visa (subclass 188) on or after July 1, 2021, then 2 years must have passed in the three years prior to your application.
If your spouse or de facto partner, who is the primary visa holder, was invited to apply for their initial Business Innovation and Investment (Provisional) visa (subclass 188) before July 1, 2021, 2 years in the 4 years just before you apply.
7 – Have followed Australian laws
You and your partner were conducting your firm in Australia in accordance with the following:
- Commonwealth regulations
- The rules of the countries or regions where your company did business
This comprises regulations governing finances, retirement benefits, and working conditions.
7 – Not having taken part in unethical business or investment ventures
You must not have engaged in any unlawful business or investing activity in Australia with your spouse or de facto partner.
8 – Possess a sincere dedication to pursue your business or financial endeavours.
– Meet our health requirement
– Meet our character requirement
– Sign the Australian values statement
– Have no debt to the Australian government
– Not have had a visa cancelled or a previous application refusedÂ
Significant Investor stream - Business Innovation and Investment (Permanent) visa (subclass 888)
With this visa, you can stay in Australia indefinitely and continue your investing activity.
- Stay in Australia indefinitely
- Study and work in Australia
- Enroll in Medicare, Australia’s universal health insurance program
- Invite your family members to visit Australia
- Travel in and out of Australia for 5 years
- Apply for Australian citizenship if you are eligible.
- A Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream or Significant Investor Extension stream, or for some individuals, must have had one;
- Keep onto your complying investment or complying large investment for the duration of your subclass 188 visa, as needed.
- Possess an active nomination that hasn’t been withdrawn from an Austrade or a state or territory government agency.
It is a long-term visa. It enables you to stay in Australia indefinitely..
For citizenship, your permanent residency starts on the day:
- You are given the visa if you are in Australia
- You enter Australia on this visa if you are outside Australia when your visa approved
1 – Have this visa
Unless COVID-19 concessions apply, You need to be in possession of a:
- Significant Investor Business Innovation and Investment (Provisional) Visa (subclass 188). If you received an invitation to submit an application for this visa on or after July 1, 2021, you must have held this visa for at least three years, or
- The Significant Investor Extension stream’s Business Innovation and Investment (Provisional) Visa (Subclass 188), or
- Given a Business Innovation and Investment (Provisional) Visa (Subclass 188) because you were the spouse or common-law partner of a person who had a Significant Investor or Significant Investor Extension stream Business Innovation and Investment (Provisional) Visa (Subclass 188) and
– If the primary visa holder was asked to apply for their Business Innovation and Investment(Provisional) visa (subclass 188) in the Significant Investor stream or Significant Investor Extension stream on or after 1 July 2021, and you have had this visa for at least three years.
– Either you and the primary visa holder are no longer legally married or cohabitating, or the primary visa holder has passed away.
You may also submit an application if you are the secondary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream and your spouse or common-law partner is the principal holder. You must have held your visa for at least three years if the primary visa holder was invited to apply for their original Business Innovation and Investment (Provisional) visa (subclass 188) on or after July 1, 2021.
2 – Be nominated
You must have a current nomination from a state or territory government agency or Austrade.
When you applied for your provisional visa, you provided an expression of interest. Your interest was noticed by a state or territory, which then nominated you.
You do not need to provide a new expression of interest. But, the state or territory needs to check that your candidacy is still current, for information see the Step by step tab
3 – Have held your complying investment or complying significant investment for the required amount of time
You made a $5 million investment in a “complying investment” or a “complying significant investment” when we approved your Business Innovation and Investment (Provisional) visa.
You (or you and your spouse or de facto partner together) must meet the following criteria in order to be awarded a Business Innovation and Investment (Permanent) (subclass 888) visa:
- If your subclass 188 visa was issued as a result of an application submitted before 1 July 2015, you must have had a “complying investment” or a “complying significant investment” for the entire time you held your Business Innovation and Investment (Provisional) (subclass 188) visa (if your subclass 188 visa was granted on the basis of an application made on or after 1 July 2015),
- Indicate` any instances you transferred funds from one investment to another.
If you invested directly in an Australian private company, in whole or in part, then:
- The company must have been a qualifying business for the entire duration of the direct investment if it was less than two years, or
- The company was a “qualifying business” for at least 2 years if the direct investment lasted for 2 years or more, or
- You must have made a sincere effort to run the business as a “qualifying business” if the company has been unable to do so.
4 – Have no previous application cancelled or rejected
If you had a visa cancelled or denied while you were in Australia, you might not be eligible for this visa.
5- Fulfill the residency requirements
One of the following residency conditions must be satisfied.
You (the primary applicant) must have had one of the following, excluding COVID-19 concessions, in order to be eligible for a Business Innovation and Investment (Permanent) visa (subclass 888):
- During a continuous duration of four years or more, the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream
- One or more Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor stream and one or more of these visas in the Significant Investor Extension stream for a continuous term of four years or
- Prior to July 1, 2015, applicants for the Significant Investor stream of the Business Innovation and Investment (Provisional) visa (subclass 188) must request the visa for a continuous term of three years and eleven months.
If you applied for this visa and are the secondary visa holder of a Business Innovation and Investment (Provisional) visa in the Significant Investor stream and your spouse or de facto partner is the primary visa holder of a Business Innovation and Investment (Provisional) visa in the same stream, you must have held, unless Covid-19 concessions apply, a:
- During a continuous duration of four years or more, the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream
- One or more Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor stream and one or more of these visas in the Significant Investor Extension stream for a continuous term of four years or
- Prior to July 1, 2015, applicants for the Significant Investor stream of the Business Innovation and Investment (Provisional) visa (subclass 188) must request the visa for a continuous term of three years and eleven months.
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6 – Have followed Australian laws
You and your partner were conducting your firm in Australia in accordance with the following:
- Commonwealth regulations
- The rules of the countries or regions where your company did business
This comprises regulations governing finances, retirement benefits, and working conditions.
7 – Not having taken part in unethical business or investment ventures
You must not have engaged in any unlawful business or investing activity in Australia with your spouse or de facto partner.
8 – Possess a sincere dedication to pursue your business or financial endeavors.
– Meet our health requirement
– Meet our character requirement
– Sign the Australian values statement
– Have no debt to the Australian government
– Not have had a visa cancelled or a previous application refusedÂ
Premium Investor stream - Business Innovation and Investment (Permanent) visa (subclass 888)
With this visa, you can stay in Australia indefinitely and continue to invest in your activity.
- Stay in Australia indefinitely
- Study and work in Australia
- Enrol in Medicare, Australia’s universal health insurance program
- Invite your family members to visit Australia
- Travel in and out of Australia for 5 years
- Apply for Australian citizenship if you are eligible.
Possess a Business Innovation and Investment (Provisional) (subclass 188) visa from the Premium Investor stream.
Satisfies investment requirements for your provisional visa
Possess a valid nomination from Austrade that has not yet been withdrawn.
It is a long-term visa. It enables you to stay in Australia indefinitely.
For citizenship, your permanent residency starts on the day:
- You are given the visa if you are in Australia
- You enter Australia on this visa if you are outside Australia when your visa approved
1 – Have this visa
Primary candidates for this visa must be:
- The primary bearer of a Premium Investor Stream Business Innovation and Investment (Provisional) visa (subclass 188).
- The holder of a Business Innovation and Investment (Provisional) (subclass 188) visa issued on the grounds that you were the spouse or common-law partner of someone who held a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream, and you no longer are, or the person has passed away.
You (the primary applicant) must have had the Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream for a continuous period of at least 12 months at the time you (the primary applicant) applied for the permanent visa. Your temporary visa must have been held for at least a year.
Family members do not need to have a Business Innovation and Investment (Provisional) (subclass 188) visa in order to apply for the visa with you.
2 – Be nominated
You must be holding a valid Austrade nomination.
You expressed interest in applying for a provisional visa before we urged you to do so. Your interest was seen by Austrade, who then nominated you. Austrade must certify that your nomination is still valid in order to grant you this visa.
3 – Have held complying premium investments for the required period of time
You put AUD15 million into a “complying premium investment” when we awarded you a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream.
You must possess the following qualifications in order to be awarded a Business Innovation and Investment (Permanent)(subclass 888) visa under the Premium Investor stream:
- Held a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream for at least 12 consecutive months at the time of application.
- For the whole period you have held your provisional visa, you have held the compliant premium investment (apart from any portion of the investment that is a philanthropic donation).
You’re complying premium investment of AUD15 million has to be in one of the following, according to our investment rules:
- Assets listed on the Australian Securities Exchange
- Government or semi-government bonds or notes issued in Australia
- Investment grade Australian corporate bonds or notes rated by an AFS licensed debt rating agency, issued by an Australian exchange listed firm (or a fully owned subsidiary of the Australian exchange listed entity),
- Australian proprietary limited corporations did not operate as passive or speculative investments but rather to create a profit by selling goods or services to the public (such as a landlord of residential property, gambling, share trading, or holding property for capital gain)
- Australian real estate, excluding residential property
- Australian-registered life companies’ deferred annuities
- Charitable donation that has been authorized by the state or territory government
Cash must make up no more than 20% of a fund’s net assets in order for it to qualify as an eligible fund, and derivatives must only be utilized for risk management.
A state or territory government-endorsed philanthropic donation may be used by premium investors to make all or part of their investment.
4 – Have no previous application cancelled or rejected
If you had a visa cancelled or denied while you were in Australia, you might not be eligible for this visa.
5- Fulfil the residency requirements
One of the following residency conditions must be satisfied.
You (the primary applicant) must have had one of the following, excluding COVID-19 concessions, in order to be eligible for a Business Innovation and Investment (Permanent) visa (subclass 888):
- During a continuous duration of four years or more, the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream
- One or more Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor stream and one or more of these visas in the Significant Investor Extension stream for a continuous term of four years or
- Prior to July 1, 2015, applicants for the Significant Investor stream of the Business Innovation and Investment (Provisional) visa (subclass 188) must request the visa for a continuous term of three years and eleven months.
If you applied for this visa and are the secondary visa holder of a Business Innovation and Investment (Provisional) visa in the Significant Investor stream and your spouse or de facto partner is the primary visa holder of a Business Innovation and Investment (Provisional) visa in the same stream, you must have held, unless Covid-19 concessions apply, a:
- During a continuous duration of four years or more, the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream
- One or more Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor stream and one or more of these visas in the Significant Investor Extension stream for a continuous term of four years or
- Prior to July 1, 2015, applicants for the Significant Investor stream of the Business Innovation and Investment (Provisional) visa (subclass 188) must request the visa for a continuous term of three years and eleven months.
6 – Have followed Australian laws
You and your partner were conducting your firm in Australia in accordance with the following:
- Commonwealth regulations
- The rules of the countries or regions where your company did business
This comprises regulations governing finances, retirement benefits, and working conditions.
7 – Not having taken part in unethical business or investment ventures
You must not have engaged in any unlawful business or investing activity in Australia with your spouse or de facto partner.
8 – Possess a sincere dedication to pursue your business or financial endeavours.
– Meet our health requirement
– Meet our character requirement
– Sign the Australian values statement
– Have no debt to the Australian government
– Not have had a visa cancelled or a previous application refusedÂ
Entrepreneur stream - Business Innovation and Investment (Permanent) visa (subclass 888)
This visa enables holders and, in some situations, individuals who have previously held a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream, to stay in the country permanently.
- Stay in Australia indefinitely
- Study and work in Australia
- Enrol in Medicare, Australia’s universal health insurance program
- Invite your family members to visit Australia
- Travel in and out of Australia for 5 years
- Apply for Australian citizenship if you are eligible.
- Have, or in certain circumstances, must have held, a Business Innovation and Investment (Provisional) (subclass 188) visa in the Entrepreneur stream.
- Having proven overall a good track record of conducting business in Australia while holding the provisional visa
- A current nomination from a state or territory in Australia
It is a long-term visa. It enables you to stay in Australia indefinitely.
For citizenship, your permanent residency starts on the day:
- You are given the visa if you are in Australia
- You enter Australia on this visa if you are outside Australia when your visa approved
1 – Have this visa
You must have continuously held the visa, barring COVID-19 concessions:
- Entrepreneur stream business innovation and investment (provisional) visa (subclass 188). You must have held this visa continuously for at least three years if you were invited to apply for this visa on or after July 1, 2021.
- Entrepreneur stream business innovation and investment (provisional) visa (subclass 188). You must have held this visa continuously for at least 4 years if you were invited to apply for it before July 1, 2021.
If COVID-19 concessions don’t apply, you need to have lived in Australia for at least:
- If you were invited to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream before July 1, 2021, at least two years of the four years while holding such a visa;
- If you were invited to apply for that visa on or after July 1, 2021, at least 2 years while having a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream.
2 – Be nominated
A valid nomination from a State or Territory government agency is required.
You expressed interest in us when you applied for your provisional visa. You were nominated when a state or territory government organization saw your indication of interest.
There is no need for you to submit a fresh expression of interest. But in order to proceed, the relevant government agency must certify that your nomination is still valid. For more information, check the Step-by-step page.
3 – Have held complying premium investments for the required period of time
You put AUD15 million into a “complying premium investment” when we awarded you a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream.
You must possess the following qualifications in order to be awarded a Business Innovation and Investment (Permanent)(subclass 888) visa under the Premium Investor stream:
- Held a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream for at least 12 consecutive months at the time of application.
- For the whole period you have held your provisional visa, you have held the compliant premium investment (apart from any portion of the investment that is a philanthropic donation).
You’re complying premium investment of AUD15 million has to be in one of the following, according to our investment rules:
- Assets listed on the Australian Securities Exchange
- Government or semi-government bonds or notes issued in Australia
- Investment grade Australian corporate bonds or notes rated by an AFS licensed debt rating agency, issued by an Australian exchange listed firm (or a fully owned subsidiary of the Australian exchange listed entity),
- Australian proprietary limited corporations did not operate as passive or speculative investments but rather to create a profit by selling goods or services to the general public (such as a landlord of residential property, gambling, share trading, or holding property for capital gain)
- Australian real estate, excluding residential property
- Australian-registered life companies’ deferred annuities
- Charitable donation that has been authorized by the state or territory government
Cash must make up no more than 20% of a fund’s net assets in order for it to qualify as an eligible fund, and derivatives must only be utilized for risk management.
A state or territory government-endorsed philanthropic donation may be used by premium investors to make all or part of their investment.
4 – Have no previous application cancelled or rejected
If you had a visa cancelled or denied while you were in Australia, you might not be eligible for this visa.
5- Fulfil the residency requirements
One of the following residency conditions must be satisfied.
You (the primary applicant) must have had one of the following, excluding COVID-19 concessions, in order to be eligible for a Business Innovation and Investment (Permanent) visa (subclass 888):
- During a continuous duration of four years or more, the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream
- One or more Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor stream and one or more of these visas in the Significant Investor Extension stream for a continuous term of four years or
- Prior to July 1, 2015, applicants for the Significant Investor stream of the Business Innovation and Investment (Provisional) visa (subclass 188) must request the visa for a continuous term of three years and eleven months.
If you applied for this visa and are the secondary visa holder of a Business Innovation and Investment (Provisional) visa in the Significant Investor stream and your spouse or de facto partner is the primary visa holder of a Business Innovation and Investment (Provisional) visa in the same stream, you must have held, unless Covid-19 concessions apply, a:
- During a continuous duration of four years or more, the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream
- One or more Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor stream and one or more of these visas in the Significant Investor Extension stream for a continuous term of four years or
- Prior to July 1, 2015, applicants for the Significant Investor stream of the Business Innovation and Investment (Provisional) visa (subclass 188) must request the visa for a continuous term of three years and eleven months.
6 – Have followed Australian laws
You and your partner were conducting your firm in Australia in accordance with the following:
- Commonwealth regulations
- The rules of the countries or regions where your company did business
This comprises regulations governing finances, retirement benefits, and working conditions.
7 – Not having taken part in unethical business or investment ventures
You must not have engaged in any unlawful business or investing activity in Australia with your spouse or de facto partner.
8 – Possess a sincere dedication to pursue your business or financial endeavours.
– Meet our health requirement
– Meet our character requirement
– Sign the Australian values statement
– Have no debt to the Australian government
– Not have had a visa cancelled or a previous application refusedÂ
Questions? You’re covered
For Vocational English, you must have an IELTS overall score of 5 (with a minimum of 5 in each component), and for Proficient English, you must receive an overall score of 7 (with a minimum of 7 in each component).
Complying investments are managed funds that are governed by the Australian Securities and Investment Commission (ASIC), federal, state or territory government bonds, and direct investments into proprietary enterprises. The applicant must show that they are eligible for the visa by holding investment in one of these alternatives.
It is not possible to extend the premium investor visa. This stream has four years, three months duration. However, in order to obtain an extension of stay, one may apply for a permanent premium investor visa (subclass 888) once your 12-month provisional premium investor visa has expired.
An Expression of Interest must be submitted to the Department of Immigration together with sponsorship from the State or Territory government in order to be considered for an 188 visa. The Department issues the invitation within a few days of receiving confirmation of the sponsorship. The length of time it takes to complete your visa after that depends on a few factors unique to your application.
Eligibility checkup
Interested in Australian Business Innovation and Investment visas? which one are you eligible for ?
This visa allows you to establish and manage a business in Australia, run businesses and investment activities in Australia or undertake an entrepreneurial activity in Australia. Fill in the form to discuss your business options with us.
Australian Business Innovation and Investment Visas Application Process
1 1
STEP 1
Eligibility check for the business innovation visa
From our free assessment, we will check if you are eligible for the business innovation visa and discuss all your business class options.
2 2
STEP 2
Submit an express of interest (EOI) to be invited
You have to submit and EOI, be nominated by a State or Territory, and then be invited to apply. Make sure to provide accurate information.
3 3
STEP 3
Gather your documents and Apply for the visa
It’s time to submit a ZERO mistake application. Our processing officers are best in documents verification and application filling.