Business Innovation & Investment Visa (Subclass 188)
The Business Innovation and Investment Visa Programme is designed to increase entrepreneurial talent and diversify business expertise in Australia. It is positioned to target migrants that have a demonstrated history of success in innovation, investment and business and are able to make a significant contribution to the national innovation system and to the Australian economy.
The objectives of the programme are to contribute to the growth of the Australian economy by:
- Generating employment
- Increasing the export of Australian goods and services
- Increasing the production of goods and services in Australia
- Introducing new or improved technology
- Increasing competition and commercial activity
- Developing links with international markets
- Increasing the dispersal of business migrants across Australia through state and territory government sponsorship.
This visais the first step towards being granted a permanent business skills visa.
This 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 AUD 1.5 million 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 5 million 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.
- Premium Investor Stream: For people who are willing to invest at least AUD 15 million 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.
General Eligibility Requirements
- Ownership of a business with turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years
- Net personal and business assets of at least AUD 800,000
- The two streams, Business Innovation stream and the Investor stream is based on a points-test system, therefore you must score at least 65 points in the points test for these streams
- Under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit
- Have an overall successful career in business
Benefits of Business Innovation and Investment Visa (Subclass188)
- You can travel in and out of Australia any number of times as long as the visa is valid
- Have your family accompany you to Australia where they will also have access to work and study rights
- Establish a pathway to permanent residency
- Depending on the stream, you can also renew your visa for an additional two years
Find out if you are eligible for this visa. Fill our free online assessment form today.