Business Innovation and Investment Provisional Visas Sub Class 188

Australian Government introduced new business visa targeting affluent business people overseas. The Business Innovation and Investment (Provisional) (subclass 188) is one among it. It is a visa that a participating state in Australia must nominate the prospective visa applicant.This is a provisional visa which is valid for four years.It is a pathway to permanent residency, through the Business Innovation and Investment (Permanent) (subclass 888) visa.Business Innovation & Investment Subclass 188 visas are for investors and business owners who wish to establish business operations in Australia.

Once you have maintained an investment in Australia for 4 years or established an ownership interest in an Australian business, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.The holder of the Business Innovation stream visa can apply for a 2-year extension is possible once you have held the subclass 188 visa for 3 years, giving you 6 years from the date of grant of the original visa.

This visa can be applied from either be in Australia or overseas. This visa can be applied only through Skill Select.
Requirements for this visa are:

  • A state or territory government in Australia should nominate the applicant.
  • Under 55 years of age; otherwise, the nominating state or territory certifies that you will make an exceptional economic benefit
  • Pass the point test for the Business Innovation and Investment Visa -currently 65.
  • History of successful career in business or investment

Applicant must have owned a business and planning to establish business operations in Australia. Requirements:

  • Having a business with turnover of at least AU $ 500,000 for 2 out of the last 4 financial years.
  • Aggregate personal and business assets of at least AU $ 800,000

The applicant must have managed investments or owned a business, and planning to invest at least AU$ 1.5 million in Australian State or Territory Government bonds. Requirements:

  • The applicant have had the total business and personal assets of at least AU$ 2.25 million for the last 2 fiscal years.
  • Make an investment of AU $ 1.5 million in Australian State or Territory bonds prior to grant of the visa.
  • Have had 3 years of experience either managing a qualifying business or eligible investments with high level of management skill.
  • In one out of the last 5 fiscal years, you have either: Run a business in which you hold a 10% shareholding; or Managed eligible investments of at least AU$ 1.5 million.

Eligible investments for the purposes of the Investor Stream can be:

  • Ownership interests in a business
  • Cash on deposit
  • Stocks or bonds
  • Real estate
  • Gold or bullion
  • Loan to a business
The business migration can be complex and requires more attention in documentations. Please note you may be eligible to qualify in a number of different business migration categories.

Permanent Business Innovation and Investment Permanent Visas Sub Class 888

The Subclass 888 Business Innovation and Investment (Residence) visa is the permanent visa for the holders of current subclass 188 Business Innovation and Investment visa. This visa can be applied either in Australia or overseas.
Depending upon the visa stream, the applicant has to satisfy the following requirements:

The Applicant has established a business in Australia which meets certain asset and turnover requirements :

  • Applicant must have been in Australia for at least 1 of the 2 years before the application is lodged.
  • Have had an ownership interest in an Australian business for the last 2 years
  • Business is legally operated and has lodged Business Activity Statements (BAS) for the last 2 years
  • The business has had turnover of at least AUD 300,000 for the last one year.

Applicant should show any 2 of the following 3 criteria for the 12 months prior to application:

  1. Total assets in the business of at least AU$ 200,000
  2. Two Full Time Equivalent employees working in the business - these employees must not be related with the applicant, and must be Australian citizens, permanent residents, or NZ citizens.
  3. Appliant’s personal assets –AU$ 600,000

he applicant have held an investment in Australia bonds for at least 4 years You must hold a Subclass 188( Provisional Business Innovation and Investment Visa) or hold a Special Category visa (subclass 444) or a Business (Long stay) visa (subclass 457IE) .
This visa is only available to applicants who are nominated by an Australian State or Territory government.
Requirements :

  • Must have been in Australia for at least 2 of the last 4 years
  • Applicant must have maintained the AUD 1.5 million investment in Australian State or Territory Bonds for a continuous period of 4 years

Business Talent Visa

  • This is a permanent visa available to eligible applicants. Applicants must be nominated by an Australian State or Territory government.
  • You must have a genuine and realistic commitment to either establish a new business or to participate in an existing business in Australia, and should maintain substantial ownership interest, and be involved in the day to day management of the business.

Applicants having ownership interests in large businesses. Requirements :

  • Applicant should be under 55 years of age, unless the nominating state or territory government certifies that the proposed business activity is of exceptional economic benefit.
  • At least in the 2 of the last 4 fiscal years you had:
    • a total assets of business at least AU$ 400,000; or
    • 10% ownership in the business if it is a public listed company.
    • the business had an annual turnover of at least AU$ 3 million for 2 of the last 4 fiscal years
  • our net assets should be at least AU$ 1.5 million.

Applicants who have access to venture capital funding of at least AU$ 1 million. Requirements :
Applicant must have a venture capital funding agreement of at least AU$ 1 million through an Australian company who is a member of the Australian Venture Capital Association Limited (AVCAL).

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People and businesses using LEAP Migration Manager are located in Australia and internationally. For migration agencies and lawyers, the managers and staff should all use the software, and it is also used by in-house migration teams within other business and industry sectors.