Business Innovation and Investment (Provisional) visa (subclass 188)
This visa is for individuals who want to own and manage a business in Australia, or to make a designated investment in an Australian state or territory.
It has several streams including:
- Business Innovation stream
- Investor stream
- Significant Investor stream
- Premium Investor stream
- Entrepreneur stream
You must
- Score at least 65 on the points test
- Provide proof of your business success (annual turnover, ownership interest)
- You, your partner, or you and your partner together, have total net business and personal assets of at least:
With this visa, you can:
- Operate a new or existing business in Australia
- Stay in Australia for up to 5 years
- Bring eligible members of your family with you
- Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream if certain requirements are met.
Cost
- From AUD 9,450.00
Eligibility
- Receive an invitation to apply: First, you must submit an Expression of Interest (EOI). If an Australian State or Territory government agency accepts your EOI and nominates you, we will invite you to apply for this visa
- Be nominated: You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa
- The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa
- Have business ownership: For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least
- Own personal and business assets: When you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least
- Score at least 65 on the points test: You must score at least 65 points on the points test.
You can get points for many reasons, including your:
- Age
- English language ability
- Qualifications
- Business experience
- Net personal and business assets
- Business turnover
- Innovation
- Special endorsement
Check how many points you might get.
- Have a successful business career: You must have a successful business career and a genuine desire to continuously own and manage a business in Australia.
- Be under 55: You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa
- Not have a history of involvement in unacceptable activities: You and your partnermust have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
- Have functional English: All applicants aged 18 or over at the time of application must either have at least functional Englishor you will be asked to pay the second instalment of the visa application charge.
- Meet our health requirement: You and family members aged 16 years and over who apply for the visa with you must meet character requirement.
Family members who are not coming to Australia must also have to meet our meet our character requirement.
- Sign the Australian values statement: If you and your family members who have applied for the visa are 18 years of age or older at the time of application, you and your family members must:
- Have read, or had explained to you, theLife in Australia book
- Sign anAustralian Values Statement that confirms you will respect the Australian way of life and obey Australian laws
- Have no debt to the Australian Government: If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back.