Business Innovation and Investment (Provisional) visa Subclass 188)
What you can do on this visa
With this visa, you can:
- carry out investment activity in Australia
- stay in Australia for up to 4 years and 3 months
- bring eligible members of your family with you
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met
How long you can stay
This is a provisional visa. You can stay in Australia for 4 years and 3 months. If you applied for this visa prior to to July 2015, you can stay in Australia for 4 years.
The visa is granted with multiple entry. 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.
Various Streams available
There are several Streams available under this visa subclass, including Business Innovation Stream Sub Class 188 A and Subclass 188 Business Innovation and Investment Visa (Investor Stream).
The Business Innovation Stream Sub Class 188 is for people with business skills who wish to establish, develop and manage a new or existing business in Australia with the Australian Dept of Home Affairs requirements for the applicant as follows:
- Have had an overall successful business career
- Be less than 55 years of age unless a State/Territory is prepared to offer an age waiver
- Have net personal and business assets of the equivalent of A $ 1,250,000 at the time of application
- Have an ownership interest of at least 30 percent in a business with a turnover of more than the equivalent of A $ 750,000 pa in each of 2 financial years out of the last 4 financial years immediately preceding the application
- Be able to gain 65 points on the Innovation Points Test (see attachment)
- Be nominated by a State/Territory Government
In all cases of business skills applications the nominating State/Territory require a business plan as part of the required nomination application though if the visa holder then subsequently decides to become involved in a different business it is only a matter of advising the respective State/Territory of this change of plan.
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