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Business Innovation and Investment Visa 188

Australian Business Visa

Business-Innovation-and-Investment-Visa

The subclass 188 Visa is for people who have a successful business or investment career, and have a genuine and realistic commitment to be involved in investing or business in Australia.

This visa is also the first step towards being granted a permanent Business Skills visa.

You must pay a non-refundable visa charge when you lodge the Expression of Interest (EOI).


Requirements

Depending as to whether you apply for the Business Innovation stream or the Investor stream, you will need to satisfy the following requirements:-

Business Innovation stream

If you apply for the Business Innovation stream, you and/or your partner combined must have:

  • total assets of at least $800 000 AUD
  • total annual turnover of at least $500 000 AUD in at least two of the four fiscal years immediately before you are invited to apply
  • owned at least:
    • 51 % of a business with a turnover of less than AUD$400 000 per annum, or
    • 30 % of a business with a turnover of more than AUD400 000 per annum, or
    • 10 % of a publicly-listed company
  • an overall successful business career with no involvement in unacceptable business activities
  • managed a business, in which you spent less than half your time on professional, technical or trade services
  • a strong desire to own and maintain a management role in a business in Australia.

Investor stream

If you apply for the Investor stream, you and/or your partner combined must:

  • have a net value of at least AUD$2.25 million for the two fiscal years immediately before you are invited to apply
  • have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities
  • have a high level of management skill in relation to eligible investments and/or qualifying business activity
  • have at least three years experience of direct involvement in managing one or more qualifying businesses or eligible investments
  • make your government-approved designated investment before a visa can be granted
  • have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.

You and/or your partner combined must also have had one of the following:

  • direct involvement, for at least one of the five fiscal years you are invited to apply, in managing your eligible investments that total at least $1.5 million AUD, or
  • direct involvement, for at least one of the five fiscal years before you are invited to apply, in managing a qualifying business in which you owned at least 10 per cent of the total value of the business.

Who May Apply?

This visa is for investors/business people from overseas who are willing to invest funds in a business and/or designated investment in Australia for four (4) years.

You must lodge the Expression of Interest (EOI) before you can be invited to apply.

You must be less than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region.

You must score at least 65 on the Innovation Points test. Points are awarded for:

  • age
  • English language ability
  • qualifications
  • experience in business or investments
  • net personal and business assets
  • business turnover
  • innovation

Benefits

With this visa you can:

  • travel in and out of Australia any number of times as long as the visa is valid;
  • have your family accompany you to Australia (they will have access to work and study rights); and
  • establish a pathway to permanent residence.

If you are in the Business Innovation stream, you can renew your visa for an additional two years, a renewal application must be lodged online and your state or territory government must confirm, in writing, that they continue to support you.

 

Visa Charges

  • 1st instalment of $4,065.00 AUD (subject to change) is payable at the time of invitation.
  • 2nd instalment must be paid before the visa is granted if you have dependant 18 years of age or older who have less than functional English.

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