Business Innovation and Investment (Provisional) Visa Subclass 188
The 188 visa is for people looking to live and do business in Australia. After submitting your application, you receive an invitation to apply to get nominated by the relevant government authority.
188 Visa Streams
Business Innovation Stream
This Is a points-based, multiple-entry visa for operating a new or existing business in Australia.
Eligibility Requirements
- Have a nomination from a State or Territory
- If you were invited to apply on or after 1 July 21, your turnover should be AUD750,000 in 2 of the 4 fiscal years before the invitation
- You, your partner, or both must have AUD1.25 million in net business and personal assets.
- Score a minimum of 65 points on the points test.
- Be under the age of 55. Only businesses that provide exceptional benefits get a concession on the age
- Fulfil the English, health, and character requirements
Duration and processing times
The duration is 5 years for an invitation on or after 1 July 21, 4 years & 3 months for before 1 July 21 and after 1 July 2015. The processing times vary from 13 months to 28 months
Investor Stream
This 188 visa is for investors willing to invest a minimum of AUD2.5 million in Australian investments and perform business or investment activities in the country.
Eligibility Requirements
- State or Territory nomination
- A genuine interest in living for at least 2 years in that state or territory
- At least 3 years of experience in managing a qualifying business or eligible investment
- At least 10% ownership interest in the qualifying business
- At least AUD2.5 million owned by you, your partner, or combined if invited on or after 1 July 21
- Hold the investment for the duration of the visa
- Investment of AUD500,000 in funds that invest in start-ups and small companies, AUD750,000 in managed funds that invest in emerging companies, and AUD1.25 million in managed funds
- A minimum of 65 points on the point stairs
Duration and processing times
The visa is granted for up to five years if you were invited on or after 1 July 21. The processing times vary from 26 months to 39 months.
Entrepreneur Stream
This visa stream is open to start-ups and early-stage entrepreneurs.
Eligibility Requirements
- Submit an expression of interest (EOI) for nomination by a State or Territory
- Be involved in or looking to be involved in a complying entrepreneur activity
- The activity must not relate to residential property, hiring labour, or purchasing an existing enterprise or franchise
Duration and processing times
The visa is granted for up to 5 years. The processing times vary from 3 months to 7 months.
Significant Investor Stream
This investment visa comes with a requirement of AUD5 million.
Eligibility Requirements
- Nomination from Austrade, State, or Territory
- Invest at least AUD1,000,000 in funds investing in start-ups and small businesses
- AUD1.5 million in emerging companies on the Australian Stock Exchange
- AUD2.5 million in managed funds
Duration and processing times
The processing times vary from 8 months to 26 months. The duration off the provisional visa is up to five years for invitations on or after 1 July 21.
Premium Investor Stream
The premium investor stream is open to people interested in investing a minimum of AUD15 million in Australian investments or philanthropic contributions.
Eligibility Requirements
- Submit an expression of interest (EOI) to receive a nomination from Austrade
- Invest in Australian securities exchange listings; government, semi-government, or corporate bonds or notes; private limited companies; property; deferred annuities; or government-approved philanthropic contribution
Duration and processing times
The duration of stay is 4 years and 3 months. There are no standard processing times for this 188 visa.
188 Visa Extensions
Visa extensions are available for business innovation investor visas.
The extension allows business innovators to stay for up to 2 more years. The processing times of applications can vary from 7 months to 19 months. An extension of up to 4 more years is available for significant investors. The processing time for this 188 visa varies from 4 months to 15 months.
