Subclass 188: Business Innovation and Investment (Provisional) VISA
This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia. This is a provisional visa. You can stay in Australia for up to 5 years if you were invited to apply for this visa on or after 1 July 2021.
If you applied after 1 July 2015, and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months.
If you applied before 1 July 2015, you can stay up to 4 years. The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid. The visa starts on the date it is granted.
With this VISA, you can
1. Operate a new or existing business in Australia
2. Stay in Australia for up to 5 years
3. Bring eligible members of your family with you
4. Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream if certain requirements are met.
Stay longer
This is a provisional VISA. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream if certain requirements are met. Explore your visa options.
If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation Extension stream. If granted, you will be able to travel to, enter and remain in Australia for up to 7 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream.
You can bring eligible members of your family with you.
Application Process
1. You must have a current nomination from a State or Territory agency
2. Make sure passports are up-to-date.
Need to prove identity, and documents about your business and assets. You also need to provide documents about family members applying with you.
Apply for this visa online. You must hold a Subclass 188 Business Innovation and Investment (Provisional) visa in the Business Innovation stream to apply.
We will let you know when we have received your application.
When visa is granted, it will have: visa grant number、the date of VISA starts、VISA conditions.
Project Description
Application Conditions:
1. Age 18-55 years old 2. A score of 65 or above 3. Have 3 years or more of business operation or management experience 4. The holding company has a turnover of AUD 500,000 or more per year in 2 of the 4 years before the application 5. Applicants and their spouses must meet the following shareholding requirements for the main nominated business: > If the company's annual turnover is less than A$500,000, it must hold more than 51% of the company's shares; > If the company's annual turnover is more than A$500,000, let it hold more than 40% of the company's shares; > If the company is a listed company, it must hold more than 10% of the company's shares. 6. Family net worth is 800,000 Australian dollars or more, and can be transferred to Australia within 2 years after visa approval 7. Among the assets of 800,000 Australian dollars, applicants need to invest at least AUD 200,000 in business (** Take Queensland as an example, invest AUD 200,000. Each state has its own specific requirements. Those who are interested, Please call 2194 4818 for inquiries.) 8. Guaranteed by the state government 9. Good health and No criminal recordApplication conditions:
1. Age 18-55 years old 2. Invest 1.5 million Australian dollars in Australian government bonds for 4 years 3. In the 2 years before the application, the total asset value continuously reached AUD 2.25 million or more 4. EOI score of 65 or above 5. Of the 5 years of investment experience before the application, 1 year of which amounts to 1.5 million Australian dollars or more 6. Guaranteed by the state government 7. Healthy body and No criminal recordsApplication conditions:
1. Have total assets of not less than A$5 million 2. Provide proof of source of funds to invest 5 million Australian dollars in approved investment projects in Australia for at least 4 years: a) Government bonds b) Australia Fund (managed by ASIC) c) Australian private companies (non-listed companies) 3. Guaranteed by the state government. There is a definite willingness to commit to start new business in Australia or manage existing local businesses, and will continue to conduct business and investment activities in Australia.Eligibility
1. Be nominated
2. Have business ownership
3. Score at least 65 on points test
4. Have a successful business career
5. Be under 55
6. Not have a history of involvement in unacceptable activities
7. Have functional English
8. Meet our health requirement
9. Meet our character requirement
10. Sign the Australian values statement
11. Have no debt to the Australian Government
12. Not have had a VISA cancelled a previous application refused
Meet your business obligations
While the holder of this visa, you must:
1. have a substantial ownership interest in a business in Australia
2. take part in its day-to-day management, at a senior level
In the business, you must do at least one of these things:
1. add to commercial activity and competitiveness within the Australian economy
2. develop business links with international markets
3. employ people in Australia and export Australian goods
4. introduce new or improved technology, or
5. produce goods or services that Australia would otherwise import
