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Business Innovation and Investor Visa Subclass 188

Australia Business Innovation and Investment Visa Subclass 188 is a temporary visa program allows people to start or invest in an existing business or take on any commercial activity in Australia.  This visa program provides you a pathway to attain permanent residency in Australia. In this page, factors like processing time, 188 visa points test, eligibility criteria, requirement benefits, will be discussed.

What is the eligibility criterion of Australia Business Innovation and Investment Visa Subclass 188?

 To be eligible to apply for Subclass 188 visa, potential applicants have to meet the below-given eligibility criteria:

  1. Age should be less than 55 years.
  2. You should be nominated by Australian state/ Territory Government.
  3. Must meet the health and character requirements.
  4. Candidates should be free from all kind of outstanding debts to the Australia Government.
  5. Be invited to apply for this visa
  6.  Submit an expression of interest (EOI).

Related:  Invest in Australia with Business talent visa subclass 132

Benefits of this visa

  1. You can travel in and outside the country till the time your visa is valid.
  2. You can apply for Business Innovation and Investment visa to stay permanently in Australia.
  3. Access to bring your eligible family members in Australia

Learn more: Settle in Australia with subclass 888 visa 

Types of Visas Streams

1. Business Innovation Stream

This stream is for people who want to start a new or be a part of existing business in Australia. Candidate should be nominated by an Australia State or Territory Government agency.

2. The Entrepreneur stream

With this visa, you can take part in entrepreneurial activities in Australia. You must have a funding agreement with a third party to precede entrepreneurial activities and nomination by an Australian State or Territory Government agency.

3. Investor Stream

To apply under this stream, candidate has to invest at least AUD 1.5 million in a state or territory of Australia and must have nomination from an Australian State/territory government agency.

4. Premium Investor Stream

This visa belongs to people who have nomination by the CEO of Austrade and have interested in investing at least AUD 15 million in Australian investments.

5. Significant Investor Stream

To be eligible to apply, candidate has to invest at least AUD 5 million in Australian investments that includes certain requirements and operate an investment activity in Australia. Candidate must be nominated by the Australia state/territory government agency or the CEO of Austrade.

6. Significant Investor Extension Stream

With this stream, subclass 188 visa holder of Significant Investor Stream can apply to expand their stay in the country for the span of four years. Applicant must receive nomination by an Australian State/ Territory Government agency/ the CEO of Austrade.

7. Business Innovation Extension Stream

Applying under this stream, the holders of subclass 188 in the Business Innovation stream can apply and extend their stay in the country for two years.  Applicants with nomination from Australia state/territory government agency can apply.

Apply for Australia Business Innovation and Investment Subclass 188

The right time to apply is when the employer have filed their nomination. Applicant has to reply within less than 6 months after post nomination approval.

  1. Candidates have to fulfill all the requirements of the 188 Visa and the stream you want to apply for. Candidates can apply under one of the above-mentioned streams.
  2. Candidates need to submit Expression of Interest and receive Invitation to Apply. Your EOI should indicate which state /territory you wish to receive the nomination.
  3. You need to submit all the documents including visa fees along with your visa application.

Related: Get permanent residency in Australia with Business visa

188 Visa Points System

Candidates who wish to apply in the Business Innovation Stream or the Investor Stream of the Business Innovation and Investment Visa Subclass 188 have to go through the 188 Visa points system. For being eligible to apply, Candidates need to score 65 points on 188 Visa points system.

Factors Description Points
Age 18–24 years 20
25–32 years 30
33–39 years 25
40–44 years 20
45–54 years 15
55 and older 0
English Language Ability Vocational English (IELTS – min 5 in each band) 5
Proficient English (IELTS – min 7) 10
Qualification Australian trade certificate, diploma or bachelor degree by an Australian education institute; or a bachelor qualification by an education institution of a recognized standard 5
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognized standard 10
Special endorsement The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located 10
Financial Assets Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
AUD800 000 5
AUD1.3 million 15
AUD1.8 million 25
AUD2.25 million 35
Business turnover Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
AUD500 000 5
AUD1 million 15
AUD1.5 million 25
AUD2 million 35
Business Innovation stream only Business experience You have held one or more businesses before you were invited to apply for the visa for:
Not less than four years within the preceding five years 10
Not less than seven years within the preceding eight years 15
Investor stream only Investor experience Eligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa 10
At least seven years before the time of invitation to apply for the visa 15
Business innovation qualifications At the time of invitation to apply for the visa: Evidence of registered patents or registered designs 15
Evidence of registered trademarks 10
Evidence of formal joint venture agreements 5
Evidence of export trade 15
Evidence of ownership interest in a gazelle business 10
Evidence of receipt of grants or venture capital funding 10
State or territory nomination Special endorsement (limited places) 10

The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.

Click here to get the idea about this visa in simpler way or Contact our Immigration Experts

Cost of this visa

Stream Cost Stay
Significant Investor Stream AUD 7,880 4 years and 3 months
Significant Investor Extension Stream AUD 645 4 years
Business Innovation Stream AUD 5,375 4 years and 3 months
Business Innovation Extension Stream AUD 645 6 years after the grant of Business Innovation Stream
Premium Investor Stream AUD 9, 455 4 years and 3 months
Investor Stream AUD 5,375 4 years and 3 months
Entrepreneur Stream AUD 4,045 4 years and 3 months

For availing more information, call on the official helpline +919625212959  or Email your queries at info@makevisas.com. 

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