Australia Business Innovation and Investment Visa Subclass 188 is a temporary visa program allows people to start or invest in an existing business or take on any commercial activity in Australia. This visa program provides you a pathway to attain permanent residency in Australia. In this page, factors like processing time, 188 visa points test, eligibility criteria, requirement benefits, will be discussed.
To be eligible to apply for Subclass 188 visa, potential applicants have to meet the below-given eligibility criteria:
Learn more: Settle in Australia with subclass 888 visa
This stream is for people who want to start a new or be a part of existing business in Australia. Candidate should be nominated by an Australia State or Territory Government agency.
With this visa, you can take part in entrepreneurial activities in Australia. You must have a funding agreement with a third party to precede entrepreneurial activities and nomination by an Australian State or Territory Government agency.
To apply under this stream, candidate has to invest at least AUD 1.5 million in a state or territory of Australia and must have nomination from an Australian State/territory government agency.
This visa belongs to people who have nomination by the CEO of Austrade and have interested in investing at least AUD 15 million in Australian investments.
To be eligible to apply, candidate has to invest at least AUD 5 million in Australian investments that includes certain requirements and operate an investment activity in Australia. Candidate must be nominated by the Australia state/territory government agency or the CEO of Austrade.
With this stream, subclass 188 visa holder of Significant Investor Stream can apply to expand their stay in the country for the span of four years. Applicant must receive nomination by an Australian State/ Territory Government agency/ the CEO of Austrade.
Applying under this stream, the holders of subclass 188 in the Business Innovation stream can apply and extend their stay in the country for two years. Applicants with nomination from Australia state/territory government agency can apply.
The right time to apply is when the employer have filed their nomination. Applicant has to reply within less than 6 months after post nomination approval.
Candidates who wish to apply in the Business Innovation Stream or the Investor Stream of the Business Innovation and Investment Visa Subclass 188 have to go through the 188 Visa points system. For being eligible to apply, Candidates need to score 65 points on 188 Visa points system.
|55 and older||0|
|English Language Ability||Vocational English (IELTS – min 5 in each band)||5|
|Proficient English (IELTS – min 7)||10|
|Qualification||Australian trade certificate, diploma or bachelor degree by an Australian education institute; or a bachelor qualification by an education institution of a recognized standard||5|
|Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognized standard||10|
|Special endorsement||The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located||10|
|Financial Assets||Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:|
|Business turnover||Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:|
|Business Innovation stream only Business experience||You have held one or more businesses before you were invited to apply for the visa for:|
|Not less than four years within the preceding five years||10|
|Not less than seven years within the preceding eight years||15|
|Investor stream only Investor experience||Eligible investment of at least AUD100 000 held for:|
|At least four years before the time of invitation to apply for the visa||10|
|At least seven years before the time of invitation to apply for the visa||15|
|Business innovation qualifications At the time of invitation to apply for the visa:||Evidence of registered patents or registered designs||15|
|Evidence of registered trademarks||10|
|Evidence of formal joint venture agreements||5|
|Evidence of export trade||15|
|Evidence of ownership interest in a gazelle business||10|
|Evidence of receipt of grants or venture capital funding||10|
|State or territory nomination||Special endorsement (limited places)||10|
The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.
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|Significant Investor Stream||AUD 7,880||4 years and 3 months|
|Significant Investor Extension Stream||AUD 645||4 years|
|Business Innovation Stream||AUD 5,375||4 years and 3 months|
|Business Innovation Extension Stream||AUD 645||6 years after the grant of Business Innovation Stream|
|Premium Investor Stream||AUD 9, 455||4 years and 3 months|
|Investor Stream||AUD 5,375||4 years and 3 months|
|Entrepreneur Stream||AUD 4,045||4 years and 3 months|
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