The Business Innovation and Investment Visa (Sub 188) is ideal for people looking to own or manage a business in Australia. This visa allows the holder to travel, live, and work in Australia temporarily and can provide pathways for permanent residency.
The Subclass 188 visa has 7 distinct streams designed to meet the diverse needs of entrepreneurs, investors, and innovators who are willing to make significant investments that will benefit the Australian economy. The 7 streams are:
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
- Business Innovation Extension stream
- Significant Investor Extension stream
- Premium Investor stream
- Entrepreneur stream
All streams require applicants to meet certain eligibility criteria such as age restrictions, language proficiency requirements, and personal net assets value. Applicants need to demonstrate that their investment or business activity complies with relevant Australian laws and regulations.
Business Innovation Stream Visa
The Business Innovation and Investment (Sub 188)(Provisional) stream is a visa pathway tailored to experienced business owners and investors looking to relocate to Australia. It offers the opportunity for eligible candidates to gain residency in the country by establishing a successful business or investing in an existing one.
To be eligible for this visa, applicants must have at least 3 years of experience running or managing businesses, hold an Asset of Net Value of AUD 800,000 and meet certain other criteria such as age, English language proficiency, and education requirements. This visa also requires applicants to have a genuine commitment to creating either a new business or investing in an existing business that will benefit the Australian economy. Successful candidates can enjoy permanent residence rights with the ability to live, work and study in Australia on this provisional Business Innovation Stream Visa.
Investor Stream Visa
The Investor Stream Visa is a provisional visa option for foreign business owners and investors who wish to live in Australia. This visa requires applicants to invest at least AUD 2.5 million into approved Australian investments, such as bonds or managed funds. In order to qualify for this visa, individuals must meet certain requirements based on their age, English language proficiency, education level, and other criteria set by the Department of Home Affairs.
This visa serves as a pathway to obtaining permanent residence in Australia. Those granted an Investor Stream Visa are able to remain in the country while they manage their investments and can access benefits such as health care coverage and study options. Additionally, if investors have successfully maintained their investment throughout the duration of their provisional visa period, they may be eligible for permanent residency status in Australia after one year.
Things you can do with this visa
The Australian visa subclass 188 is a great way for investors and business owners to expand their operations into the country. This visa allows both established businesses and budding entrepreneurs the opportunity to develop and grow within the country, giving them access to a new market that could bring in more profits or lead to even greater success.
Investors looking for an opportunity can use this visa to invest in Australia, allowing them to make sound investments without having to worry about citizenship. Business owners can also use this visa, which is suitable for those who are starting up a new venture or those who want to operate an existing one in Australia. Additionally, the visa allows holders access to a range of benefits, such as tax breaks and other incentives that have been designed specifically by the government.
Requirements
The Business Innovation and Investment (Sub 188)(Provisional) visa is designed to help innovative business owners and investors who are looking to establish or develop a business in Australia. This visa will allow these individuals to travel and stay within the country for four years, as well as gain permanent residency if they meet its criteria. In order to qualify for this visa, applicants must first meet certain character and health requirements.
Applicants must have no criminal record or any medical conditions that may pose a risk to public health or safety in Australia. They must also adhere to all Australian laws while residing in the country. Furthermore, they must also submit evidence of their financial capacity to support themselves in Australia during the period of their stay.
Length
The Subclass 188 visa allows holders to stay in Australia for up to 8 years, depending on the stream.
Processing Time
The Business Innovation and Investment (Sub 188) visa allows an individual to stay in Australia as a business innovator or investor. Obtaining the visa can be quite challenging, especially because it is difficult to determine the processing time for this type of visa. The length of time taken for a 188 visa application to be processed on many factors, such as the applicant’s country of origin, how complete their application was when it was submitted, and any necessary background checks that need to be conducted.
Every 188 visa application is treated individually by immigration authorities, making it hard to predict exactly how long a particular case will take before approval is granted. There are general timelines available from the Department of Home Affairs which give an estimate of processing times based on nationality and subclass applied for, but these should only be used as a guide.
Costs
The Business Innovation and Investment (Sub 188) visa is a provisional visa that has 7 streams. Each of these streams has different visa costs associated with it.
Read more about the streams of Sub 188 visa: