Subclass 188 Business Innovation and Investment Provisional Visas

Business Innovation & Investment Subclass 188 visas are for investors and business owners who wish to establish business operations in Australia. The visa is valid for 4 years.

There are 5 eligibility streams:

• A. Business Innovation – for business owners seeking to establish business operations in Australia
• B. Investor – for people who are willing to invest $1.5 million in an Australian State or Territory bonds
• C. Significant Investor – for people willing to invest $5 million into complying investments in Australia
• D. Premium Investor – for people with significant funds who are willing to invest at least $15 million into complying premium investments in Australia.
• E. Entrepreneur – for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

 

Business and Innovation Stream 188A

Duration and Conditions

This is a 4-year temporary visa. Once you have established an ownership interest in an Australian business, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

A 2-year extension is possible once you have held the subclass 188 visa for 3 years, giving you 6 years from the date of grant of the original visa.

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.

Visa Criteria

The Business Innovation Stream requires you to have owned a business and to be intending to establish business operations in Australia. You will need to meet the following specific requirements:

• Ownership of a business with a turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years; and
• Net personal and business assets of at least AUD 800,000; and
• Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit; and
• Meet the pass mark in the Business Innovation and Investment Points test (currently 65)
• Have an overall successful career in business

State/Territory Nomination

This visa is only available to applicants who are nominated by an Australian State or Territory government. To be nominated, you must lodge an Expression of Interest (EOI) through the SkillSelect system.

Eligibility for Permanent Residence

To qualify for a permanent Business Innovation & Investment (Residence) Subclass 888 visa, you would need to meet the following criteria:

• You have been in Australia on your subclass 188A visa for at least 12 months, within the 2 years prior to lodgement
• Owned and operated a business in Australia for at least 2 years prior to the application with an annual turnover of at least $300,000 for the 2 of the last 4 years.
• You and/or your partner must meet two of the following three criteria for the last 12 months:
  • Assets of at least $200,000 in the business
  • Net personal and business assets of at least $600,000 in Australia
  • Employed at least two Australian full-time employees in your business in Australia

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

 

Investor Stream 188B

Duration and Conditions

This is a 4-year temporary visa. Once you have maintained an investment in Australia for 4 years, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.

Visa Criteria

This option requires you to have managed investments or owned a business, and to be willing to invest AUD 1.5 million in Australian State or Territory Government bonds. Specific criteria include:

• You have had a business and personal net assets of at least AUD 2.25 million for the last 2 fiscal years
• Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit; and
• Meet the pass mark in the Business Innovation and Investment Points test (currently 65)
• You must make an investment of AUD 1.5 million in Australian State or Territory bonds prior to a grant of the visa
• You have 3 years of experience either managing a qualifying business or “eligible investments”, and have shown a high level of management skill
• For at least 1 of the last 5 fiscal years, you have either:
  • Managed a business in which you hold a 10% shareholding; or
  • Managed “eligible investments” of at least AUD 1.5 million

“Eligible investments” for the purposes of the Investor Stream include:

• Ownership interests in a business
• Cash on deposit
• Stocks or bonds
• Real estate
• Gold or bullion
• Loan to a business

State/Territory Nomination

This visa is only available to applicants who are nominated by an Australian State or Territory government. To be nominated, you must lodge an Expression of Interest (EOI) through the SkillSelect system.

Eligibility for Permanent Residence

To qualify for a permanent Business Innovation & Investment (Residence) Subclass 888 visa, you would need to meet the following criteria:

• You have been in Australia on your subclass 188B visa for at least 2 years, within the 4 years prior to lodgement
• Maintained your investment in Australian State or Territory bonds for the last 4 years.

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

 

Significant Investor Subclass 188 Visas

The Significant Investor visa is a 4-year visa for people willing to make an AUD 5 million investment in Australia. It is one of the streams within the Subclass 188 Business Innovation and Investment visa.

Duration and Conditions

This is a 4-year temporary visa. Once you have maintained an investment in Australia for 4 years, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

You will need to spend at least 40 days per year in Australia on your Significant Investor visa for the last 4 years and be sponsored by a state or territory government to qualify for a permanent subclass 888 visa.

A 2-year extension is possible, and you can extend your SIV two times.

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.

Applications can only be lodged online via the SkillSelect system.

State/Territory/AusTrade Nomination

This visa is only available to applicants who are nominated by an Australian State or Territory government or by AusTrade.

Visa Requirements

Unlike other business migration categories, there is no upper age limit for this type of visa.

For grant of the visa, applicants must make an investment of at least AUD 5 million in a “complying investment”. A “complying investment” for the purposes of the Significant Investor Visa must be made up of:

• At least $500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
• At least $1.5 million in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.
• A ‘balancing investment’ of up to $3 million in managed funds that may invest in a range of assets, including ASX-listed companies, Australian corporate bonds or notes, annuities and commercial real estate

Business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

 

Premium Investor Subclass 188D Visas

The Premium Investor visa is a 4-year visa for people willing to make an AUD 15 million investment in Australia. It is one of the streams within the Subclass 188 Business Innovation and Investment visa.

Duration and Conditions

This is a 4-year temporary visa. Once you have maintained an investment in Australia for 1 year, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.

Applications can only be lodged online via the SkillSelect system.

Nomination by AusTrade

This visa is only available to applicants who are nominated by AusTrade.

Visa Criteria

Unlike other business migration categories, there is no upper age limit for this type of visa.

Applicants must make an investment of at least AUD 15 million in a “premium investment” prior to the grant of the visa. A “premium investment” for the purposes of the Premium Investor Visa includes:

• 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 licensed 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 a philanthropic contribution

Business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

 

Entrepreneur Subclass 188 Visas

The Entrepreneur visa is a 4-year visa for people who have investor funding to develop an enterprise or business in Australia.

It is one of the streams within the Subclass 188 Business Innovation and Investment visa.

Duration and Conditions

This is a 4-year temporary visa. Once you have established business operations in Australia, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

You will need to spend at least 2 years in Australia on your Entrepreneur Visa and be sponsored by a state or territory government to qualify for a permanent subclass 888 visa.

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.

Applications can only be lodged online via the SkillSelect system.

State/Territory Nomination

This visa is only available to applicants who are nominated by an Australian State or Territory government.

Visa Criteria

All applicants must meet the following criteria:

• Nomination by a state or territory government
• Competent English
• Under 55 Years of age, unless a State or Territory Government nominates you as providing an “exceptional economic benefit” to the state or territory
• Funding agreement in place for at least $200,000 to establish a venture in Australia
• The ownership interest of at least 30% in the venture

Acceptable Business Activities

The proposed venture would need to be either:

• The commercialization of a product or service in Australia; or
• Development of an enterprise or business in Australia

Certain activities which are not considered sufficiently innovative will be excluded. This is defined by legislative instrument and include:

• Purchase of an existing business or franchise
• Real estate activities
• Labour hire activities

Eligible funding

To apply for the Entrepreneur Visa, you will need to have an agreement for at least $200,000 in funding from one or more of the following sources:

• Commonwealth agencies
• State and territory governments
• Publicly funded research organizations
• Investors registered as Venture Capital Limited Partnerships or Early Stage Venture Capital Limited Partnerships

The funding agreement must involve the transfer of at least 10% of the funds within 12 months of commencing the activity in Australia.

Business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

 

Business Innovation Points Test

Applicants for the provisional subclass 188 visas will need to meet the pass mark of 65 in the Innovation Points Test.

Age

Points will be available depending on which age bracket the applicant falls within. Once the applicant is 55, no points will be available for age and state or territory governments must apply for a waiver of the age limit for people aged over 55.

Points	Age Band
20	Between 18 and 24
30	Between 25 and 32
25	Between 33 and 39
20	Between 40 and 44
15	Between 45 and 54
0	55 and over

English Language Ability

There is no minimum English language requirement for the new business migration subclasses. However, applicants with less than functional English will need to pay an English Language Charge before receiving their visas.

Points are available for:

• Vocational English (5 minimum in each of the 4 components of IELTS): 5 points
• Proficient in English (7 minimum in each of the 4 components of IELTS): 10 points

Qualifications

People with trade qualifications, diplomas or bachelor degrees will receive 5 points. Qualifications must either be awarded by an Australian institution or recognized overseas institution.

10 points are available if the qualification is in business, science or technology.

Experience in Business or Investment

Points are available for experience relevant to the stream being applied for – ie for the business innovation stream, work experience as a business owner would be considered relevant.

Points available for business owners are as follows:

Points	Owned a business for at least:
10	4 of the last 5 years prior to an invitation
15	7 of the last 8 years prior to an invitation

Points are available for investors who have held eligible investments of at least AUD 100,000 prior to being invited and these are as follows:

Points	Held eligible investment of AUD 100,000:
10	Last 4 years
15	Last 7 years

Net Personal Assets

Points will be available for net personal assets held for the last 2 financial years:

Points	Net assets held for last 2 financial years
5	AUD 800,000 to 1.3 Million
15	AUD 1.3 million to 1.8 million
25	AUD 1.8 million to 2.25 million
35	Over AUD 2.25 million

Business Turnover

Points will be awarded for turnover in a business owned by the applicant. The turnover threshold must be met for 2 of the last 4 years prior to application:

Points	Business turnover for 2 of the last 4 financial years
5	AUD 500,00 to 1.0 million
15	AUD 1.0 million to 1.5 million
25	AUD 1.5 million to 2.0 million
35	Over AUD 2.0 million

Innovation

Points can be awarded in a number of items under this factor, for instance:

• 15: Registered patents or designs
• 10: Registered trademarks
• 5: Joint Ventures
• 15: Export Trade: where the business has at least 50% of its turnover in exports
• 10: Gazelle Businesses: where the business has had 20% annualized growth for the last 3 financial years
• 10: Grants or Venture Capital Funding: government grants of at least AUD 10,000 or venture capital funding of at least AUD 100,000 will give eligibility for points

Special Endorsement by State/Territory Government

State and Territory Governments can support applicants by indicating that they proposed business is of unique and important benefit to the state or territory. This results in 10 points for the visa applicant.

For more information on business migration please contact us.

Subclass 888 Permanent Business Innovation and Investment Visas

The Subclass 888 Business Innovation and Investment (Residence) visa is the permanent stage for the subclass 188 Business Innovation and Investment visa. There are two streams depending on which stream was applied for at the provisional visa stage:

• Business Innovation Stream: requires you to have established a business in Australia which meets certain asset and turnover requirements
• Investor Stream: you must have held an investment in Australia bonds for 4 years

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

In most cases, you must hold a subclass 188 Provisional Business Innovation and Investment Visa. The primary visa holder for the subclass 188 visa must, in general, be the primary applicant for the subclass 888 visa, rather than the spouse or partner. The only exception is where your relationship has ceased due to separation or death of the primary visa holder.

The application must be lodged online via the internet.

State/Territory Nomination

This visa is only available to applicants who are nominated by an Australian State or Territory government.

Common Criteria

All applicants must meet the following criteria:

• You must be nominated by the State or Territory Government who nominated you for the subclass 188 visa unless you have obtained permission to change State or Territory
• You have a genuine commitment to maintain your business or investment activities in Australia
• You have a satisfactory compliance with applicable Australian Commonwealth, State and Territory laws

Business Innovation Stream Requirements

This option requires you to have owned a business and to be intending to establish business operations in Australia. You will need to meet the following if you are applying through the Business Innovation Stream:

• Residence Requirement: you must have been in Australia for at least 1 of the 2 years prior to application
• You have had an ownership interest in an Australian business for the last 2 years
• Your business has an ABN and has lodged the necessary Business Activity Statements (BAS) for the last 2 years
• The business has had a turnover of at least AUD 300,000 for the last 12 months. Exception: if you reside in a regional area, operate a business there and the State or Territory Government has indicated there are exceptional circumstances
• You must meet 2 of the following 3 criteria for the 12 months prior to application:
  1. Net assets in the business of at least AUD 200,000
  2. 2 Full-Time Equivalent employees working in the business – these employees must not be relatives, and must be Australian permanent residents, citizens or NZ passport holders
  3. Net personal assets of at least AUD 600,000

Investor Stream Requirements

For this option, you must hold an Investment Stream Subclass 188 provisional visa, and meet the following criteria:

• Residence Requirement: you must have been in Australia for at least 2 of the last 4 years
• You must have maintained the AUD 1.5 million investment in Australian State or Territory Bonds for a continuous period of 4 years

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

Business Talent Visa

Business Talent (Migrant) visas are permanent visas available to applicants in two streams:

• Significant Business History Stream: for people with ownership interests in large businesses
• Venture Capital Entrepreneur Stream: for people who have access to venture capital funding of at least AUD 1 million

Duration and Conditions

This visa grants permanent residence status.

Do I Apply in Australia or Overseas?

You can either be in Australia or overseas when you lodge your application.

If you are in Australia, you must hold a substantive visa or a Bridging A, B or C visa.

Applications can only be lodged online via the SkillSelect system.

State/Territory Nomination

This visa is only available to applicants who are nominated by an Australian State or Territory government.

Criteria

Common Criteria

All applicants must meet the following criteria:

• You are nominated by an Australian State or Territory government to migrate to Australia.
• You have been invited to apply through the SkillSelect system
• You have a genuine and realistic commitment after entry into Australia to either establish a new business or to participate in an existing business, and to maintain substantial ownership interest, and be involved in the day to day management of the business.

Significant Business History Stream

For the Significant Business History Stream, you would need to meet the following criteria:

• You are under 55 years of age unless the nominating state or territory government certifies that the proposed business activity is of exceptional economic benefit.
• For at least 2 of the last 4 fiscal years you had:
  • net assets in the business of at least AUD 400,000; or
  • 10% ownership of the business if it is a publicly listed company.
  • the business had an annual turnover of at least AUD 3 million for 2 of the last 4 fiscal years
• You have net assets of at least AUD 1.5 million.

Venture Capital Entrepreneur Stream

For the Venture Capital Entrepreneur Stream, you must have a venture capital funding agreement of at least AUD 1 million through an Australian company who is a member of the Australian Venture Capital Association Limited (AVCAL).

Business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

If you would like us to check your likely eligibility for business migration or if you would like us to assist you with your application, you can book a consultation through our website. We will then provide you with a comprehensive preliminary assessment of your likely eligibility for business migration and can discuss with you the best way to proceed with your application.

Business Visitor Visas

Business Visitor visas allow applicants to conduct short business trips to Australia.

Duration and Conditions

A Business Visitor visa allows the holder to remain in Australia for up to 3 months at a time to conduct business activities. The business visitor visa cannot be extended whilst in Australia.

The visa has only limited work rights – you can only undertake the following types of “business visitor activities”:

• making general business or employment inquiries
• investigating, negotiating, signing or reviewing a business contract
• activities carried out as part of an official government-to-government visit
• participating in conferences, trade fairs or seminars, as long as you are not being paid by the organizers for your participation.

The visa also allows recreational activities including tourism and non-formal studies for up to three months.

Do I Apply in Australia or Overseas?

There are several ways of applying for a business visitor visa:

• e-Visitor Subclass 651 and ETA Subclass 601 visas are lodged online via the Department of Immigration website.
• Otherwise, you can apply for a subclass 600 visa in the business visitor stream. For certain countries, this can be lodged online. Otherwise, a paper application must be lodged with an Australia Embassy or Consulate

Criteria

You may be requested to demonstrate the following to be granted a subclass 600 visa in the business visitor stream:

1. You have a need to travel to Australia for business purposes
2. You possess personal attributes and a business background that are relevant to, and consistent with, the nature of your proposed business in Australia.
3. You have sufficient funds to support yourself in Australia
4. You have close ties in your home country ensuring you will return after your travel to Australia

For more information on applying for a Short Stay Business Visa or for information on how you can apply for longer stay business visas please book an immigration consultation.