Business innovation and investor visa (subclass 188) is a temporary work visa under Australian immigration for the candidates who want to establish a new business or develop an already existing business in Australia. You can apply for permanent residency in Australia after maintaining an investment or an ownership interest for 4 years in an Australian business. The subclass 188 Visa gives the candidate a temporary permit for working and living 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 the subclass 188 visa, the applicant must–
2. The points test does not apply to you if you are applying in the Significant Investor stream, the Premium Investor stream, the Entrepreneur stream, the Business Innovation Extension stream, or Significant Investor Extension stream.
|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.
The right time to apply for this visa, is when the employer have filed their nomination. Applicant has to reply within less than 6 months after post nomination approval.
|subclass||Base application charge||Additional applicant charge|
18 and over
|Additional applicant charge under 18|
Applicant must pay the second installment for all family member added in the application that are:
This charge has to be paid by the applicant prior visa grant.
Applicant may need to pay the other costs, including health assessments costs, police certificates costs, or other certificates or tests costs. The applicant is alone responsible for organizing the needful requirements.
Subclass 188 visa is a form of a permanent residency visa. It allows the primary applicant and his or her family members whose visa grant has been approved to:
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