188A Visa – Business Innovation Stream
Business Innovation and Investment (Provisional) visa (subclass 188)
The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme.
You must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government before being invited to apply for this Australia Business Visa.
The Business Australia migration visa includes three streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia.
- Investor stream: for people who want to make a designated investment of at least AUD$1,500,000 in an Australian state or territory and maintain business and investment activity in Australia.
- Significant Investor stream: for people who are willing to invest at least AUD $5,000,000 complying investments in Australia and want to maintain business and investment activity in Australia.
Holding this visa is the first stage before becoming eligible to qualify for a Business Immigration Australia Innovation and Investment (Permanent) visa (subclass 888)Features
This visa is for people who want to own and manage a new or existing business in Australia, or to invest in an Australian state or territory.
You might be able to get this visa if you are nominated by a state or territory government agency and are invited to apply by the Minister for Immigration and Border Protection.You might be able to get this visa if:
- You are nominated by a state or territory government
- You are invited to apply
- You (and all your family members) meet certain health and character requirements
- You meet the additional requirements for the stream in which you apply.
- Be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
- Score at least 65 on the points test
- For 2 out of the 4 fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD$500,000 turnover in each of those years.
- Own at least one of the following percentage of your nominated main business.
- 51%, if the business has a turnover of less than AUD$400,000 per year.
- 30%, if the business has a turnover of AUD$400,000 or more per year
- 10%, if the business is a publicly listed company
- Have an overall successful business career
- Have a genuine desire to continuously own and maintain a management role in a business in Australia. \
- If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.
At the time of invitation, you, your partner, or you and your partner combined must have total net assets of at least AUD$800,000 that are lawfully acquired and available for legal transfer to Australia within 2 years of the visa being granted.
You and your partner must have had no involvement in unacceptable business or investment activities.