Business Innovation and Investment Provisional Visa
Investment Visa in Australia (Subclass 188)
The Australian government grants this provisional residence 188 visa to business owners, entrepreneurs and investors. It allows the applicant to own and manage a business, undertake entrepreneurial activity in Australia or conduct business and investment activity in Australia. There are seven streams of Investment Visa in Australia.
What does an Investment Visa in Australia subclass 188 let you do?
What does an Investment Visa in Australia subclass 188 let you do?
Investment Visa in Australia allows the person to operate a new or existing business or invest in a business. However, they must be nominated by an Australian territory or state government. The applicant can also bring their eligible family members with them to reside in Australia.
What are the different sub-streams of Business Innovation and Investment Provisional Visa Subclass 188?
Business Innovation Stream
This stream of Investment Visa in Australia is for people with business skills. It lets an applicant operate a new or existing business in the Commonwealth. A person can stay in Australia for five years on the Business Innovation stream visa. The applicant must have business ownership. For two out of four fiscal years just before receiving an invitation to apply, the applicant must have held an ownership stake in either one or two businesses that had:
- A minimum turnover of AUD 500,000 in each of those two years in case the applicant was invited to apply before July 1, 2021.
- A minimum turnover of AUD 750,000 in each of those two years in case the applicant was invited to apply on or after July 1, 2021.
Whether the applicant has one or two businesses, they must own at least:
- 10% of the total business value in case a publicly listed company operates the business.
- 30% of the total business value in case the turnover of the business is AUD 400,000 or more per year, or
- 51% of the total business value if the business's turnover is less than AUD 400,000 per year.
In case the applicant's business provides professional, trade or technical services, then they must have spent less than half of their time providing those services rather than general business management. When the applicant is invited to apply for an Investment Visa in Australia in the Business Innovation stream visa, then they, their partner, or they and their partner combined must have the total net business and personal assets of a minimum:
- AUD 1,25 million if they were invited to apply on or after July 1, 2021
- AUD 800,000 if they were invited to apply before July 1, 2021.
The applicant's funds must be available for transfer to Australia within two years of the Australian government granting an Investment Visa in Australia.
The Investment Visa in Australia subclass 188 holder must have a substantial ownership interest in an Australian business, participate in its day-to-day management at a senior level, meet their business obligations, and follow Australian workplace laws. The applicant must have a successful business career and a genuine intention to own and manage a business continuously.
Investor Stream
To get an investment visa in Australia, an applicant must invest a minimum of AUD 2.5 million in Australian investments meeting certain requirements and maintaining investment or business activity in Australia. The applicant can carry out business and investment activities on an investment visa in Australia. The 188 visa lets them stay in Australia for five years. A person must make a complying significant investment of a minimum of AUD 2.5 million and maintain their investment continuously for the entire duration of their provisional investment visa in Australia. The 188 visa applicant must own and manage the business, personal assets, and investments. The applicant must have the following:
- Managed a qualifying business or eligible investments for a minimum of one of the five fiscal years immediately before they were invited to apply, have directly managed either a qualifying business in which they, their partner, or they and their partner combined had at least 10% ownership interest or an eligible investment.
- Have required assets.
- Invest in Australia
Moreover, the applicant for an investment visa in Australia must have the right experience. They must have:
- A minimum of three years of experience managing eligible investments or one or more qualifying businesses.
- Demonstrated a high level of management skill with respect to qualifying business activity or the eligible investment.
- Have a successful record of qualifying business activity or eligible investment.
The applicant for an investment visa in Australia must genuinely desire to live for a minimum of two years in the State or Territory where they have made the investment application.
Significant Investor Stream
The government grant investment visa in Australia to people who invest a minimum of AUD 5 million in Australian investments that meet specific requirements and maintain investment activity in Australia. It lets investors carry out investment activities in Australia. The applicant for an investment visa in Australia can stay for five years. The 188 visa holder must meet their business obligations. They must have a genuine and realistic commitment to live in the state or territory whose government agency nominated them and continue business and investment activity in Australia after their Investment Visa in Australia ends. The visa holder must also maintain their investment for the entire duration of the visa subclass 188 and comply with Australian workplace laws. Moreover, Significant Investor Stream visa subclass 188 applicants must also live in Australia for a minimum of 40 days per year for their provisional visa's duration. The applicant must make and maintain complying significant investments continuously for the life of their provisional visa subclass 188.
Business Innovation Extension Stream
This Investment Visa in Australia subclass 188 stream lets an applicant operate a new or existing business in Australia. It allows Investment Visa in Australia holder to extend their stay. They can travel to and from Australian continent for up to 6, 7, or 8 years after the date of grant of visa subclass 188 under the Business Innovation stream. The applicant must meet their business obligations and follow Australian workplace laws. The applicant must hold a Business Innovation and Investment (Provisional) 188 visa Innovation stream and must have held it for at least three years. The applicant must be able to demonstrate that their business activities require them to be a resident in Australia to operate the main business. The person must have been operating actively in Australia for a minimum of two years immediately prior to applying for the 188 visa. The applicant must have maintained their commitment to stay directly involved in the decision-making and day-to-day management of the business.
Significant Investor Extension Stream
This visa lets the Significant Investor Stream 188 visa holders extend their stay in Australia for up to four more years. Investment Visa in Australia holders can carry out investment activities in Australia. The applicant must meet their visa obligations, maintain their investment and follow Australian workplace laws. The applicant must not have held more than one Significant Investor Extension stream visa. They must continue to hold their complying significant investment according to the complying investment framework in place when they apply for the investment visa in Australia.
Premium Investor Stream
This stream of Investment Visa in Australia is granted to people who have invested a minimum of AUD 15 million in Australian investments and/or philanthropic contributions and who are nominated by Austrade. It lets 188 visa holders stay in Australia for four years and three months. The subclass 188 applicant needs to submit an expression of interest. If Austrade accepts the invitation, then the Department of Home Affairs will invite the applicant to apply for an Investment Visa in Australia. After applying, the 188 visa applicant must make a complying premium investment of a minimum of AUD 15 million. They must also have net assets of a minimum of AUD 15 million. The subclass 188 applicant and any family member who is aged 18 years or older must agree not to bring any action against Australia for any loss related to the applicant's complying premium investment.
Entrepreneur Stream
The Department of Home Affairs grants this visa to startups and early-stage entrepreneurs nominated by a State or Territory government agency and endorsed to develop their concepts. The Investment Visa in Australia Entrepreneur Stream holders can do entrepreneurial activities in Australia. The subclass 188 visa holder must meet entrepreneur obligations and follow Australian workplace laws. A person must submit an expression of interest. If a State or Territory government agency of Australia accepts your interest, then the Department of Home Affairs will invite the applicant to apply for this visa stream. The person must undertake, or propose to undertake, a complying entrepreneurial activity in Australia. The person must have a genuine intention to continue the entrepreneurial activity. If a visa 188 applicant is invited to apply on or after July 1, 2021, they must be endorsed by their nominating State or Territory government agency to develop their entrepreneurial concepts.
Apply For Investment Visa in Australia Subclass 188
What are the eligibility requirements for Business Innovation and Investment (Provisional) Visa Subclass 188?
Nomination requirements
Before an applicant is invited to apply for an Investment Visa in Australia, they must be nominated by either an Australian State or Territory government agency. Moreover, the State or Territory government agency that nominates an applicant must not withdraw their nomination after the applicant applies. To be eligible for the Premium Investor stream visa, Austrade must nominate the applicant, and Austrade must not withdraw their nomination after the applicant applies for the Premium Investor stream visa.
Point test score
A score of at least 65 points on the points test is a must if applying for the Business Innovation stream and Investor stream.
Age requirements
The applicant will not receive an invitation if they are aged 55 or older at the time of invitation for subclass 188 visa application unless the Territory or State government agency has determined their proposed entrepreneurial activity will be of remarkable economic benefit. This age requirement criterion applies to the Business Innovation stream, Investor stream and Entrepreneur stream.
No history of involvement in unacceptable activities
The applicant and their partner must not have any history of involvement in business or investment activities unacceptable in Australia.
English language requirements
All Investment Visa in Australia applicants aged 18 years or above at the visa application time must have at least functional English or should pay the second instalment of the 188 visa application charge. However, the applicant must have competent English for an Entrepreneur stream visa.
Health requirements
The applicant and any family member who applies, along with the applicant, must meet the health requirements. The Department of Home Affairs might also ask other family members who have not applied for an Investment Visa in Australia to meet the health requirements.
Character requirement
The applicant and any family member who is applying for the investment visa in Australia (subclass 188), along with the applicant, must meet the character requirements. The Department of Home Affairs might also ask other family members who have not applied for an investment visa in Australia (subclass 188) to meet the character requirements.
Paid back to the Australian government
If the applicant or any of their family members owe the Australian government any money, they must have paid it back or should have a formal arrangement to pay it back.
Previous visa cancellations and refusals
The applicant must not have had a visa cancelled before or a previous application refused.
Acceptance of Australian values statement
If the applicant is 18 years or older, they must sign the Australian values statement.
Cost for Business Innovation and Investment Provisional Visa Subclass 188
Please visit Australian government site for current Visa Cost
Processing time for Investment Visa in Australia subclass 188
Processing time for this visa can vary. Please visit Australian government site for current. Processing Time
How can you apply for an Investment Visa in Australia subclass 188?
The Investment Visa in Australia applicant needs to submit an Expression of Interest. The applicant can be in or outside Australia when they apply for and when the Department of Home Affairs decide on their application, but they should not be in immigration clearance.
How Way2Oz Migration Services can assist you?
At Way2Oz, our migration agents have strong immigration laws knowledge and are focused on providing quality immigration services to our clients. Our team understands the difficulties in selecting the best visa options; therefore, we advise our clients on the most suitable Investment Visa in Australia subclass 188 streams. For more information and advice, schedule an appointment today.