Business Innovation and Investment (Provisional) Visa (Subclass 188)

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This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia. This is a provisional visa for 4 years and you may apply for the Subclass 888 Business Innovation and Investment (Permanent) visa after meeting the required criteria.

This visa has 5 streams:

Business Innovation Stream

For people with business skills who want to establish, develop, and manage a new or existing business in Australia.

You must:

  • Be nominated by an Australian State or Territory government agency, before being invited to apply for this visa.
  • Under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
  • Score at least 65 on the Points Test.
  • When you are invited to apply for this visa, 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 2 years of us granting the visa.
  • For two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500 000 turnover in each of those years.

Own at least one of the following percentages of your nominated main business::

  • 51 per cent, if the business has a turnover of less than AUD400 000 per year.
  • 30 per cent, if the business has a turnover of AUD400 000 or more per year.
  • 10 per cent, if the business is a publicly listed company.
  • Have an overall successful business career.
  • Have a genuine desire to continuously own and maintain a management role in a business in Australia.

Investor Stream

For people who want to make a designated investment of at least AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia.

You must:

  • Be nominated by an Australian State or Territory government agency, before being invited to apply for this visa.
  • Under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
  • Score at least 65 on the Points Test.
  • Have a high level of management skills in relation to the eligible investment or qualifying business activity.
  • Have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments.
  • Make a designated investment of at least AUD1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory

You, your partner, or you and your partner combined must for at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following:

  • A qualifying business in which you, your partner or you and your partner combined had at least 10 per cent ownership interest, or
  • Eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5million.
  • During the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million that are available for legal transfer to Australia within two years of the visa being granted;

Significant Investor Stream

For people who are willing to invest at least AUD5 million into complying investments in Australia and want to maintain business and investment activity in Australia.

You must:

  • Be nominated by a State or Territory government before being invited to apply for this visa.
  • There are no upper age limits.
  • There is no need to satisfy the points test.
  • Need to show you have AUD 5million, lawfully acquired and unencumbered, for which you can use towards your Complying Significant Investment.
  • You must invest at least AUD 5 million into complying investments in Australia before visa grant.
  • Significant Investments can be made only by you or you together with your spouse or de-facto partner.
  • You need to be able to prove the source of funds as lawfully acquired.

There is a wide scope for the range of investments of the $5million which include:

  • At least $500,000 invested in ‘venture capital funds.
  • At least $1,500,000 invested in ’emerging companies’ investments’
  • Any funds remaining portion to be invested in one or more ‘balanced investments’

Premium Investor Stream

For 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. The Premium Investor stream is by nomination of Austrade on behalf of the Australian government.

You must:

  • Make a complying investment of at least AUD$15 million in any of the following options:
  • Australian securities exchange listed assets.
  • Australian government or semi-government bonds or notes.
  • Corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an AFS licenced debt rating agency.
  • Australian proprietary limited companies.
  • Real property in Australia excluding residential property.
  • Deferred annuities issued by Australian registered life companies.
  • State or territory government approved philanthropic contribution.
  • You must also have a genuine and realistic commitment to continue your business and investment activity in Australia after the conclusion of your provisional visa.
  • You, your partner (spouse or de facto), or you and your partner combined must have net assets of at least AUD15 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.
  • You and your partner must not have been involved in unacceptable business or investment activities.
  • You, your partner, and other family members aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment. Income that you earn from your complying investment in Australia is subject to tax under Australian taxation law.

Entrepreneur Stream

This provisional visa lets you carry out entrepreneurial activities in Australia.

You must:

  • be under 55 years of age, although a state or territory can waive this requirement if your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory
  • have competent English and be able to provide evidence of this at the time you are invited to apply for the visa
  • be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity

A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.

This activity must not relate to any of the following excluded categories:

  • Residential real estate
  • Labour hire
  • Purchase of an existing enterprise or a franchise in Australia.

An activity is a complying entrepreneur activity if all of the following requirements are met:

  • you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000 from one of the following entities:
  • Commonwealth Government agency
  • State or Territory Government
  • Publicly Funded Research Organisation
  • Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
  • Specified Higher Education Provider
  • Under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia.
  • You held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.
  • You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.

Our Services

Visa Globe Migration Agents assists Business Visa applicants, identifying the correct stream for the individual application and navigating the complexities associated with each. We provide advice and application management from start to finish to ensure the best possible visa outcome.