188 Visa: Business & Investment
(Temporary)

About Subclass 188 Visa Australia

Formally known as the Business Innovation and Investment (Provisional) visa (Subclass 188), it is a pathway for individuals looking to conduct business, investment, and entrepreneurial activities in Australia.

It’s an opportunity for qualified applicants to contribute to the Australian economy while taking a major leap towards permanent residency. The basic eligibility requirements are:

• Expression of interest (EOI) submitted via SkillSelect
• Nomination from an Australian State or Territory government agency or Austrade
• Invitation to apply for the visa
• Meet health and character criteria

188 Business Innovation and Investment Visa Streams

There are seven (7) streams under this visa, as follows:

Business Innovation stream

A points-tested visa designed for individuals with business skills, the 188A visa lets successful applicants operate a new or existing business in Australia for up to 5 years. To be eligible to apply, you need the following:

• Proof of business ownership
• Own personal and business assets
• Score 65 and up on the points test
• Successful business career
• Must be below 55 years of age
• Possess ‘Functional’ English

Investor stream

If you can invest at least AUD 2.5 million in Australian investments, this temporary investor visa allows you to maintain a business or investment activity here for up to 5 years. Among the key requirements are:

• Manage and own business, personal assets, and investments
• At least 3 years of experience managing 1 or more qualifying businesses or investments
• Score 65 points or higher on the points test
• Intend to live in a State or Territory where investment application was made
• Must be below 55 years old
• Have ‘Functional’ English

Significant Investor stream

Similarly, the 188C visa lets you live in Australia for up to 5 years to conduct investment activities, provided you invest at least AUD 5 million in Australian investments.

• Invest at least AUD 1 million in venture capital and growth private equity funds intended for startups and small private businesses;
• At least AUD 1.5 million in approved managed funds for Australian Stock Exchange-listed emerging companies;
• At least AUD 2.5 million ‘balancing investment’ in managed funds
• Intend to be a significant investor throughout the visa’s duration
• Meet ‘Functional’ English standard

Business Innovation Extension stream

Need to extend your stay in Australia to continue your business activities? This stream lets holders of the Business Innovation stream visa to stay for up to 3 more years, or a total of 8 years after the grant date of their initial visa.

• Prove you need to stay in Australia further to operate your main business
• Your main business must be operating actively for at least 2 years before applying
• Stay committed to your active involvement in day-to-day business operations
• Must be of ‘Functional’ English proficiency

Significant Investor Extension stream

Continue to conduct substantial investment activities in Australia for up to 4 more years after exhausting your 5-year residency on a Significant Investor stream visa. Additional eligibility criteria include that you:

• Continue holding a complying significant investment
• Not hold more than one (1) of this visa (Significant Investor Extension stream)
• Have ‘Functional’ level of English

Premium Investor stream

With this visa, you can live and stay in Australia for up to 4 years and 3 months by investing at least AUD 15 million, including philanthropic contributions. Main criteria include:

• Nomination from Austrade
• Have a complying premium investment of AUD 15 million in securities exchange-listed assets, government bonds, corporate bonds, etc
• Have a lawfully acquired net asset of AUD 15 million minimum
• Agree to NOT bring action vs the Commonwealth relating to financial losses
• Must have ‘Functional’ language proficiency

NOTE: New applications for this stream have been closed.

Entrepreneur stream

Are you a startup or early-stage entrepreneur endorsed to further develop your concept, and nominated by a State or Territory government agency? This stream enables you to carry out entrepreneurial activities for up to 5 years. You must also:

• Genuinely undertake a complying entrepreneur activity related to an innovative idea;
• Said activity shall result in the commercialisation or development of an Australian business or enterprise
• Receive funding from an approved entity or endorsement from a recognised body
• Possess ‘Competent’ English level

For those who are 55 years of age or older, you can still apply and qualify for a business innovation visa, investor visa, or entrepreneur visa, as long as you can prove that your business or investment activity will be of exceptional economic benefit to Australia.

Australia Visa 188 Application Process

Apply for a subclass 188 visa under the stream that best suits your qualifications with this step-by-step process:

Need a professional hand to help you strengthen your visa application? Speak to a registered migration agent from Parish
Patience to maximise your visa success.

Visa 188 Australia: Processing Times & Fees

Processing times vary per application and their individual complexity, volume of applications, and whether the submitted application is complete or missing documents.

Fees, meanwhile, are subject to change. Refer to the Department of Home Affairs website for the latest fees, processing times, and immigration news.

The table below represents processing times for 50% to 90% of applications processed, respectively. The fees, on the other hand, apply only for the main applicants and are exclusive of additional fees regarding health and character checks, among others.

How Parish Patience Immigration Lawyers Can Help

You don’t have to handle this complex process alone. Let our experienced Australian immigration consultants help maximise your chances of being granted your dream visa.

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