BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) SUBCLASS 188 VISA
This visa is for those who wish to undertake a business activity or would like to invest in Australia. You will need to subscribe to a list (Skill Select) and the Department of Immigration will then invite you to apply for the visa. You must be nominated by an Australian State and/or Austrade.
You also must have good health conditions and no criminal convictions. The duration of the visa is 4 years and you can include other family members when applying for the visa at the initial stage or at a later time.
The visa has four possible pathways:
- Business Innovation Stream
This first option is for those who wish to invest in a business in Australia. The applicant must have a history of a successful career as an entrepreneur business owner and have a minimum of AUD800,000 to transfer to Australia within two years from the approval of the visa, be generally under 55 years of age andachieve at least 65 points. Points are awarded depending on age, English level, qualifications, investment amount, etc..
- Investor Stream
This option is for those who wish to start and maintain an investment in Australia. The applicant must have a previous history of an entrepreneurial career, be under 55 years of age, achieve at least 65 points, have a minimum of AUD 2,250,000 which may be transferred to Australia within two years from the approval of the visa.
- Significant Investor Stream
This option is for those who wish to start and maintain an investment of AUD 5,000,000 in Australia for four years. The applicant must have the intention to continue investing even after the investment term.
- Premium Investor Stream
This option is for those who wish to start and maintain an investment of $ 15,000,000 in Australia for 12 months.
- Entrepreneur stream
This option is for those who have an innovative idea in order to commercialise a product or a service in Australia. The entrepreneur must receive funding of at least AUD 200,000 from an eligible agency or institution.