Business Innovation and Investment Provisional (subclass 188)
The Business Innovation and Investment Provisional (subclass 188) visa lasts for a period of 4 years. It is for business people and investors seeking to establish business operations in Australia and obtain permanent residence through those business activities.
About This Visa
The subclass 188 visa lasts for a period of 4 years. It is for business people and investors seeking to establish business operations in Australia and obtain permanent residence through those business activities.
To become eligible for permanent residence (under the subclass 888 Permanent Australian visa pathway) subclass 188 visa holders must either hold an ownership interest in an Australian business or maintain their investment for 4 years.
How to apply?
- Be nominated by an Australian State or Territory government;
- Apply online via SkillSelect;
- Be invited to apply for the visa by the DIBP; and
- If lodging from within Australia, hold a valid substantive visa or Bridging A, B or C visa.
- Be under the age of 55, unless certified as an exceptional economic benefit to Australia;
- Have an overall successful career in business or investment; and
- Meet the pass mark in the Business Innovation and Investment Points test (currently 65).
There are two streams through which to apply:
The Business Innovation Stream
This stream requires applicants to have owned and operated an overseas business as well as have a genuine intention of establishing business operations in Australia and:
- Own a business with a gross turnover of at least AUD 500,00 in 2 of the last 4 financial years; and
- Net personal assets (applicant and/or their spouse) and business assets of at least AUD 800,000.
The Investor Stream
This stream requires applicants to have had a successful career in managing investments or own a business as well as be willing to invest $1.5 million in Australian State or Territory government bonds and:
You must have a successful career in managing investments or own a business, be willing to invest AUD 1.5 million in Australian State or Territory Government bonds and satisfy the following:
- Net personal (applicant and/or their spouse) and business assets of at least AUD 2.25 million for at least 2 of the last 4 financial years of business/investment operation;
- 3 years of experience managing a qualifying business or “eligible investment(s)” showing a high level of management skill;
- For at least 1 of the last 5 fiscal years the applicant has either;
- Managed a business in which you hold a 10% shareholding; or
- Managed “eligible investments” of at least AUD 1.5 million.
Note: “eligible investments” for the Investor Stream includes:
- Ownership interests in a business;
- Cash on deposit;
- Stocks or bonds;
- Real estate;
- Gold or bullion; or
- Loan to a business.
How can CTG Lawyers help you?
Business Innovation and Investment Provisional (subclass 188) visas can be refused for several reasons. Business Innovation and Investment Provisional (subclass 188) visa applications have strict criteria which must be met and there are very few waiver provisions for the age, English language and skill requirements.
To satisfy these requirements, it is essential that all applications are assessed, structured and lodged in a way that meets all applicable DIBP law and policy. CTG Lawyers has the expertise to handle the most complex cases and achieve the best outcomes in circumstances where the applicant would have failed had they applied without our support.
What to do next
To get the right advice, contact us for a consultation with one of our specialist advisors.