Australia Business Innovation and Investment Visa Subclass 188 is a four-year provisional visa for the business owners who wish to establish or begin a new or existing business in the country by investing the designated amount of money with the Australia state/territory. This visa is a gateway to the Permanent Visa Subclass 888. For being eligible to apply , you must receive the nomination from state/territory government and fulfill the 188 visa checklist.With this visa, the candidate gets a temporary permit to work and live in Australia.
This stream is for those individuals who wish to establish, develop and manage a new or existing business in Australia.
This stream is for those individuals who are involved in a funding agreement from a third party for a minimum amount of AUD 200000 for entrepreneur activity leading to either the commercialization of a product or service or the development of a business in Australia. Applicants must be nominated by a state or territory government.
This stream is for those individuals who wish to invest an amount of minimum AUD1.5 million in an Australian state or territory and manage business and investment in Australia.
This stream is for those individuals who wish to invest AUD 15 million into premium investments in Australia and want to maintain business and investment activity in Australia.
This stream is for those individuals who wish to invest AUD 5 million minimum into significant investments in Australia and want to maintain business and investment activity in Australia.
To be eligible to apply under this visa, the applicant must–
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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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.
Learn more: Settle in Australia with subclass 888 visa
|Business Innovation and Investment (Provisional) Visa (Subclass 188) Streams||75% of applications processed in||90% of applications processed in|
|Business Innovation||Presently no processing time due to less applications||Presently no processing time due to less applications|
|Investor Stream, Significant Investor Stream, Premium Investor, Entrepreneur Stream||Presently no processing time due to less applications||Presently no processing time due to less applications|
|Business Innovation and Investment Visa Subclass 188||Base Application Charge||Additional applicant charge 18 and above||Additional applicant charge under 18|
|Significant Investor Stream||AUD 7,880||AUD 3,940||AUD 1,975|
|Premium Investor Stream||AUD 9,455||AUD 4,725||AUD 2,365|
|Business Innovation Stream and Investor Stream||AUD 5,375||AUD 2,685||AUD 1, 345|
|Business Innovation Extension and Significant Investor Streams||AUD 645||AUD 325||AUD 165|
|Entrepreneur Stream||AUD 4,045||AUD 2,025||AUD 1,010|
The 188 Visa leads to the Business Innovation and Investment Visa (Subclass 888) which is a permanent residency program.
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