fbpx

Business Innovation and Investment (provisional) visa (subclass 188)

The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme.

An individual must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government or Austrade on behalf of the Australian government before being invited to apply for this visa.

The visa includes five streams:

  • Business Innovation stream : is for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government. For detailed information see Business Innovation stream.

  • Investor Stream : for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government. For detailed information see Investor stream.
  • Significant Investor Stream : for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government. For detailed information see Significant Investor stream.
  • Premium Investor Stream : for people who are willing to invest at least AUD 15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government. For detailed information see Premium Investor stream.
  • Entrepreneur Stream : for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government. For detailed information see Entrepreneur stream.

Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

Eligibility

  • They are nominated by a state or territory government or Austrade on behalf of the Australian government
  • They are invited to apply
  • They (and all members of their family unit) meet certain health and character requirements
  • They meet the additional requirements for the stream in which they apply.

This visa allows an individual to: –

  • Establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in a complying entrepreneurial activity in Australia.
  • Travel in and out of Australia for the life of their visa.
  • Bring members of the family unit with them to Australia.

In addition to the above-mentioned conditions, there are other factors and criteria to be taken into consideration.

For more information and eligibility requirement please Contact us or complete the Assessment Form and email us.