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Business Innovation and Investor Visa Subclass 188

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.

What is the eligibility criterion of Australia Business Innovation and Investment Visa Subclass 188?

 To be eligible to apply for Subclass 188 visa, potential applicants have to meet the below-given eligibility criteria:

  1. Age should be less than 55 years.
  2. You should be nominated by Australian state/ Territory Government.
  3. Must meet the health and character requirements.
  4. Candidates should be free from all kind of outstanding debts to the Australia Government.
  5. Be invited to apply for this visa
  6.  Submit an expression of interest (EOI).

Related:  Invest in Australia with Business talent visa subclass 132

What are the benefits in applying for Australia Business Innovation and Investment Visa Subclass 188?

  1. You can travel in and outside the country till the time your visa is valid.
  2. You can apply for Business Innovation and Investment visa to stay permanently in Australia.
  3. Access to bring your eligible family members in Australia

Learn more: Settle in Australia with subclass 888 visa 

Visa Streams

1. Business Innovation Stream

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.

2. The Entrepreneur stream

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.

3. Investor Stream

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.

4. Premium Investor Stream

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.

5. Significant Investor Stream

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.

6. Significant Investor Extension Stream

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.

7. Business Innovation Extension Stream

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.

How to apply for Australia Business Innovation and Investment Subclass 188 ?

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.

  1. Candidates have to fulfill all the requirements of the 188 Visa and the stream you want to apply for. Candidates can apply under one of the above-mentioned streams.
  2. Candidates need to submit Expression of Interest and receive Invitation to Apply. Your EOI should indicate which state /territory you wish to receive the nomination.
  3. You need to submit all the documents including visa fees along with your visa application.

Related: Get permanent residency in Australia with Business visa

188 Visa Points System

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.

FactorsDescriptionPoints
Age18–24 years20
25–32 years30
33–39 years25
40–44 years20
45–54 years15
55 and older0
English Language AbilityVocational English (IELTS – min 5 in each band)5
Proficient English (IELTS – min 7)10
QualificationAustralian trade certificate, diploma or bachelor degree by an Australian education institute; or a bachelor qualification by an education institution of a recognized standard5
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognized standard10
Special endorsementThe 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 located10
Financial AssetsNet business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
AUD800 0005
AUD1.3 million15
AUD1.8 million25
AUD2.25 million35
Business turnoverAnnual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
AUD500 0005
AUD1 million15
AUD1.5 million25
AUD2 million35
Business Innovation stream only Business experienceYou 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 years10
Not less than seven years within the preceding eight years15
Investor stream only Investor experienceEligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa10
At least seven years before the time of invitation to apply for the visa15
Business innovation qualifications At the time of invitation to apply for the visa:Evidence of registered patents or registered designs15
Evidence of registered trademarks10
Evidence of formal joint venture agreements5
Evidence of export trade15
Evidence of ownership interest in a gazelle business10
Evidence of receipt of grants or venture capital funding10
State or territory nominationSpecial endorsement (limited places)10

The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.

Click here to get the idea about this visa in simpler way or Contact our Immigration Experts

What is the cost of subclass 188 visa?

StreamCostStay
Significant Investor StreamAUD 7,8804 years and 3 months
Significant Investor Extension StreamAUD 6454 years
Business Innovation StreamAUD 5,3754 years and 3 months
Business Innovation Extension StreamAUD 6456 years after the grant of Business Innovation Stream
Premium Investor StreamAUD 9, 4554 years and 3 months
Investor StreamAUD 5,3754 years and 3 months
Entrepreneur StreamAUD 4,0454 years and 3 months

For availing more information, call on the official helpline +91-7042184185  or Email your queries at info@makevisas.com. 

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