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

About visa :

Australia's immigration system follows a point based system for its permanent residency visa categories.

Visa is issued only on invitation. The visa applicant has to submit his Expression of Interest through Skill Select initially and on receipt of Invitation can apply for visa.

The visa includes five streams:

Business Innovation stream: 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.

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.

Significant Investor stream: For people who are willing to invest at least AUD 5million 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.

Premium Investor stream: people who are willing to invest at least AUD 15million 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.

Entrepreneur stream: For people who have a funding agreement from a third party for at least AUD 200 000 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. Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

Features :

This visa allows the applicant to:

• Establish a new business or develop an existing business in Australia (the Business Innovation stream)
• Make a designated investment with an Australian state or territory government (the Investor stream)
• Invest at least AUD5 million in Australia (the Significant Investor stream).
• own and manage a business in Australia (the Business Innovation stream)
• Conduct business and investment activity in Australia (the Investor stream, the Significant Investor stream and the Premium Investor stream)
• Undertake an entrepreneurial activity in Australia (Entrepreneur stream).

Requirements:

You might be able to get this visa if you are nominated by a state or territory government or Australian agency and are invited to apply by the Minister for Immigration and Border Protection.

Beside the invitation to apply, the applicant must have:

• A successful business or investment history
• Adequate personal and business assets
• Nomination by a state or territory government