Business Innovation & Investment Visa
(Subclass 188)
188 Visa: Business and Investment Opportunities in Australia
The 188 visa is only available to those who meet a qualification test set by an Australian state or home government. In order to apply, an Expression of Interest (EOI) must be submitted through the Skill Select program.
This is a five-year temporary visa for those who wish to enjoy and operate a new or living business in Australia. Once you’re involved in an Australian company, you can apply for endless occupancy through the Innovation and Investment visa class 888.
Aspirants can apply for this visa from Australia or overseas.
If the aspirant is located in Australia, must have the original visa or transit visa A, B, or C.
A business with a turnover of at least A$750,000 in at least two of the last four tax years; and
- Personal and business net worth of at least ORD 1,250,000; and
- A person under 55 years of age, unless the applicant has a special economic interest; and
- Acquire a passing score on the innovation and business investment test (currently 65 points)
- A successful business overall
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The Business Innovation Stream
Stay: up to 5 years.
To apply for an invention and investment visa (class 188) in the Business Innovation Stream or Investor Stream (temporary), you must score at least 65 points (passed) in the points test.
The test awards points for various aspects of human capital and business innovation, and includes objective measures of business performance. Points are awarded:
- Knowledge of the English language
- Qualifications are available.
- Business or investment experience
- Net personal and business property
- Running a business
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Other 188 Visa Subclass Eligibility Streams
Investor stream
This temporary visa requires you to invest at least $2.5 million in Australian investments that meet certain requirements and maintain business or investment activities in Australia.
Stay: for a maximum of 5 years
Significant Investor stream
Stay: up to 5 years
Business Innovation Extension stream
Stay: up to 8 years
Significant investor extension stream
Holders of the Business Innovation and Investment Significant Investor visa (subclass 188) are able to stay in Australia for an additional four years with the help of this temporary visa.
Stay: up to 4 years
Premium investor stream
Stay: 4 years and 3 months
Entrepreneur stream
Stay: up to 5 years
FAQs
What is the Validity Period of the 188 Visa?
The 188 Visa is valid for up to 5 years, depending on the stream and the applicant’s circumstances.
Can I include my family members in my 188 Visa application?
Yes, you can include your partner and dependent children in your application.
Can I change my business or investment activities after obtaining the 188 Visa?
Yes, but significant changes may require you to notify the Department of Home Affairs and could affect your eligibility for permanent residency.
What happens if my business fails while I am on the 188 Visa?
If your business fails, it may affect your capacity to transition to permanent residency. However, each case is evaluated on its own merits, and you should seek guidance from a migration agent Australia.
