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Business Innovation and Investment - Subclass 188

Business Innovation and Investment (Provisional) visa (subclass 188) is classified as part of the Australian Business Innovation and Investment Program. It has been kick started to boost the economy of country. The above visa is a premium visa and available only through an invitation process. To apply for this visa applicant needs to use the facility of SkillSelect to submit an Expression of Interest (EOI) and as well be nominated by a state or a territory government of Australia before being issued an invite to apply for the Business Innovation and Investment (Provisional) visa (subclass 188) visa.

Visa Description

There are three streams in this visa:
  • People who want to manage and own a new business in Australia can choose The Business Innovation stream
  • People who want to make a designated and specified investment in the Australian state or territory can choose The Investor stream
  • People who want to an investment an investment of at least AUD5 million can choose The Significant Investor stream. 
Who can apply?
  • Applicant(s) nominated by a state or territory government of Australia
  • To apply for this visa, applicants should receive an invitation
  • The other relevant requirements depend on stream in this visa that is listed for in your EOI.
Visa Validity
  • This visa remains valid up to 4 years from the date issue of visa
  • Applicant can renew or extend the visas in various streams according to different conditions, except the Investor stream visa cannot be renewed
Benefits of the visa
  • Applicants can initiate a business or take care of an existing business
  • You can travel in and out of Australia with this visa, until it expires
  • You can also bring your dependent family members along with you
  • You can seek for permanent residence in Australia
Requirements
  • The applicants need to have sound health and should meet all the defined requirements in health
  • They also need to meet the character requirements which are used in assessing their level of previous life.
Business Innovation Stream:
  • Applicant should be aged below 55
  • In the Innovation points test, applicant should score minimum of 65 points
  • Applicant should have an ownership interest in an Australian business, which has a turnover of AU $ 500000 
Applicant should have ownership of at least:
  • 51 percent of an Australian business that has less than AU $ 400000 turnover per year
  • 30% of Australian business that has more than AU$ 400000 turnover per annum
  • The company should be public listed (at least 10% of the overall business)
  • Applicant should be successful in their business
The Investor Stream
  • Applicant should be below 55 years age
  • In the Innovation Points test, the applicant needs to score at least 65
  • Applicants should have good skills in management
  • Need to have direct experience of three years in managing a business
  • A keen interest to build and maintain business in Australia
Significant Investor Visa
 
Applicant should be prepared to invest at least AUD 5 million in any one of the compliments, described below:
  • Commonwealth, territory or state government bonds
  • Some extent of managed funds in one of the below Australian assets
  • Agriculture Business
  • Deposits in Australian Institutions
  • Equity, bonds and hybrids
  • Infrastructure Projects
  • Real Estate
  • Any other businesses that are regulated by ASIC

Dependents

The applicants can also include the below individuals in their visa applications
  • Partner (de-facto or married)
  • Your dependent children or children who are dependent on partner
  • Close relatives who are entirely dependent on you
  • All your dependents need to provide evidence of their relationship with you
 

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Disclaimer - MoreVisas immigration service Pvt.Ltd. does not offer consulting on student visas/ Overseas jobs/work permits/international or domestic placements.
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