Business Innovation and Investment Visa subclass 188 - For entrepreneurs who want to run a business or invest in Australia

The Business Innovation and Investment visa (subclass 188) is a provisional four-year visa. You can apply for it when you want to any of the following:

  • Set up and run a business in Australia.
  • Own and run an existing Australian business.
  • Invest in an Australian state or territory.

This visa is also the first step towards qualifying for permanent residency via the Business Innovation and Investment visa (subclass 888).

business innovation and investment visa (subclass 188)

The different streams under the Business Innovation and Investment visa (subclass 188)

You can make applications under one of four streams, each with its own qualifying criteria:

  1. Business Innovation stream: For individuals with business skills. It lets you operate a new or existing business in Australia.
  2. Investor stream: This provisional visa requires you to invest at least AUD2.5 million in an Australian State or Territory and maintain business or investment activity in Australia.
  3. Significant investor stream: This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
  4. Entrepreneur stream: For individuals who want to carry out entrepreneurial activities in Australia.

Qualifying criteria - Business innovation stream

To apply for a visa under the Business Innovation stream, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800,000. Your funds must be available to transfer to Australia within two years of Australia granting your visa.

Furthermore, you must:

  • Be under the age of 55
  • Score at least 65 points in the Business Innovation and Investment points test
  • Have a successful business career and a genuine desire to continuously own and manage a business in Australia
  • Be nominated by an Australian State or Territory government agency, before being invited to apply for this visa
  • Have had an ownership stake in one or two businesses that had at least AUD500,000 turnover in two out of four fiscal years immediately before you receive an Invitation to Apply
  • Meet the English language, health, and character requirements

Qualifying criteria - Investor stream

To apply for a visa under the Investor stream, you must:

  • Be under the age of 55
  • Make an investment of AUD2.5 million in an Australian State or Territory
  • Score at least 65 points in the Business Innovation and Investment points test
  • Have net business, investment and personal assets of at least AUD2.25 million
  • Be nominated by an Australian State or Territory government agency before being invited to apply for this visa
  • Have directly managed one of the following for at least one of the five fiscal years immediately before receiving an Invitation to Apply:
    • a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
    • an eligible investment of at least AUD2.5 million owned by you, your partner or you and your partner combined
  • Have the right experience, which means having:
    • at least 3 years' experience managing one or more qualifying businesses or eligible investments
    • a successful record of eligible investment or qualifying business activity
    • demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity
  • Have a genuine intention to live for at least two years in the State or Territory in which you have made the investment application.
  • Meet the English language, health, and character requirements

Qualifying criteria - Significant investor stream

To apply for a visa under the Significant Investor stream, you must:

  • Invest at least AUD5 million in complying significant investments in Australia, and have a genuine intention to hold that investment for at least 4 years
  • Be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa
  • Have a genuine intention to live in the State or Territory whose government agency nominates you
  • Meet the English language, health, and character requirements

Qualifying criteria - Entrepreneur stream

To apply for a visa under the Entrepreneur stream, you must:

  • Be under the age of 55
  • Undertake, or propose to undertake, a complying entrepreneur activity in Australia
  • Have a funding agreement of at least AUD200,000 with a third party to carry out entrepreneurial activities
  • Show a business plan for your entrepreneurial activity
  • Be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa
  • Meet the English language, health, and character requirements

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