Business Innovation and Investor visa (subclass 188)

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 Australia by investing the designated amount of money with the Australia state/territory. The 188 Visa is a gateway to the Permanent Visa (Subclass 888). For being eligible to apply for the 188 Visa, you must receive the nomination from state/territory government and fulfill the 188 visa checklist.The Business Innovation and Investor visa (subclass 188) gives the candidate a temporary permit for working and living in Australia.

Business Innovation and Investor Visa (Subclass 188) Streams-

  1. The Business innovation stream

This stream is for those individuals who wish to establish, develop and manage a new or existing business in Australia.

  1. The Entrepreneur stream

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.

  1. The Investor stream-

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.

  1. The Premium investor stream

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.

  1. The Significant  Investor stream

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.

Business Innovation and Investor Visa (subclass 188) Requirements

To be eligible to apply under the Business Innovation and Investor Visa (Subclass 188) the applicant must–

  1. Be less than 55 years of age.
  2. Meet the health and character requirements.
  3. Be nominated by state or territory government.
  4. Be invited to apply for this visa
  5.  Submit an expression of interest (EOI)

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.

Steps to apply for the Business Innovation and Investment Visa (Subclass 188)

 The right time to apply for this 188 visa, 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.

The 188 visa processing time

Business Innovation and Investment (Provisional) Visa (Subclass 188) Streams75% of applications processed in90% of applications processed in
Business Innovation19 months22 months
Investor Stream, Significant Investor Stream, Premium Investor, Entrepreneur StreamInapplicable due to less applicationsInapplicable due to less applications

 

Business Innovation and Investment Visa (Subclass 188) cost

The cost of 188 visa is AUD 600.

 

Business Innovation and Investment visa (subclass 188) Benefits-

The 188 Visa leads to the Business Innovation and Investment Visa (Subclass 888) which is a permanent residency program.

  • Free to travel in and outside Australia as many times till the visa is valid.
  • Grants you the permanent residency in Australia.
  • Allows you to start or develop a new or existing business in Australia.
  • Your eligible family members can accompany you in Australia

For availing more information about Australia Business Innovation and Investor Stream (Subclass 188) ,Call the corporate hotline +91-7042 184 185/Email your queries on info@makevisas.com or Visit our Official Website.

Related links:

Visitor visa- Subclass 600Partner visa- Subclass 820
Australia Permanent Residency for New Zealand Citizens Business Visa Program
Skilled Migration Visa Program Employer Nomination Scheme Visa- Subclass 186
Business Talent Visa- Subclass 132Child Visa- Subclass 101

 

 

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