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

 Visa Feature:
This visa allows you to bring family members to study, work, live in Australia. You can apply for a Business Innovation and Investment (Permanent) visa subclass 888 for Permanent Residency.

This visa permits you to:

  • Own and manage a business in Australia (‘The Business Innovation stream’).
  • Make business and investment activity in Australia (‘The Investor stream, the Significant Investor stream and the Premium Investor stream’).
  • Undertake an entrepreneurial event in Australia (‘Entrepreneur stream’).

The visa type has the following five streams:

  1. Business Innovation stream: For skilled business people who want to develop, establish and manage a new or existing business in Australia. The Applicant should be nominated by a state or territory government.
  2. Investor stream: For people ready to make a designated investment of at least AUD 1.5 million in an Australian state or territory and continuous to maintain business and investment activity in Australia. The Applicant should be nominated by a state or territory government.
  3. Significant Investor stream: For people who are ready to invest at least AUD 5 million into complying significant investments in Australia and continuous to maintain business and investment activity in Australia. The Applicant should be nominated by a state or territory government or Austrade on behalf of the Australian government.
  4. Premium Investor stream: For people who are ready to invest at least AUD 15 million into complying premium investments in Australia and continuous to maintain business and investment activity in Australia. The Applicant should be nominated by Austrade on behalf of the Australian government.
  5. Entrepreneur stream: It’s for people who have a funding agreement from a third party for at least AUD200.000 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. The Applicant should be nominated by a state or territory government.

Criteria – An applicant should

  • Be nominated by an Australian state or territory government agency.
  • Be invited to apply for this visa.
  • Have experience in owning and operating a business; if applying under “Business Innovation Stream”.
  • Possess at least AUD 1.5 million; if applying under “Investor Stream”.
  • Possess at least AUD 5 million; if applying under “Significant Investor stream".
  • Possess at least AUD 15 million; if applying under “Premium Investor stream".
  • Possess at least AUD 200,000; if applying under “Entrepreneur stream”.

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