Business Visa Overview:
Home / Migration / Business Innovation and Investment Visa (188 Visa)
The Subclass 188 Visa is a temporary pathway for individuals to invest and reside in Australia for up to four years, forming a segment of the Business Innovation and Investment Program.
Visa Streams:
Business Innovation Stream:
• Focuses on individuals with business acumen aiming to establish or manage businesses in Australia.
• Requires a minimum of 65 points and nomination by a state or territory government.
• Criteria include age limits, business turnover, net assets, and a successful business history.
Investor Stream:
• Geared towards individuals investing at least AUD 1.5 million in Australia.
• Requires meeting specific age, business/investment experience, and net asset requirements.
Significant Investor Stream:
• Requires an investment of at least AUD 5 million into compliant significant investments in Australia.
• Sponsorship by a state government or Austrade, rather than points-based.
Premium Investor Stream:
• Demands a substantial investment of at least AUD 15 million into premium investments in Australia.
• Austrade initiates contact with eligible candidates for government nomination.
Entrepreneur Stream:
• Intended for those with a funding agreement of at least AUD 200,000 for entrepreneurial activities.
• Nominated by a state or territory government, requiring an Expression of Interest (EOI) through SkillSelect.
Business Operations and Visa Criteria:
For the Business Innovation Stream (Subclass 188A):
• Permanent visa application (Subclass 888A) necessitates ownership in an actively operating main business in Australia for 2 years preceding the application.
• Each state has varied criteria for businesses, e.g., New South Wales vs. Victorian government requirements.
Processing Standards:
• Processing times vary based on application volume.
• Subclasses under Significant Investor, Premium Investor, and Entrepreneur streams might be unavailable due to low application volumes.
• Processing times can range from 18-23 months for different streams.
Visa Holder Obligations:
• No specific conditions for Subclass 188A, 188B visa holders; they must meet permanent visa requirements.
• Significant Investor and Premium Investor stream holders must maintain complying investments throughout the visa period.
Activities Permissible on 188 Visa:
• Besides business/investment activities, visa holders and their families can pursue studies and multiple travels within the visa's validity.
This comprehensive overview provides insights into the different streams, visa criteria, business operations, processing standards, and the activities permissible during the Subclass 188 Visa period. For detailed advice tailored to specific circumstances, individuals are encouraged to seek professional consultation.