Business Innovation and Investment (provisional) Visa (Subclass 188)
If you want to own a business and manage it while living in Australia, Business Innovation and Investment (Provisional) Visa (Subclass 188) is for you. The Business Innovation and Investment (Provisional) visa (subclass 188) is a part of the more significant Business Innovation and Investment Programme. This visa allows you to handle your business and investment activity in Australia (the Business Innovation stream, the Investor stream, the Significant Investor stream, the Premium Investor stream, and the Entrepreneur stream).
You must lodge an Expression of Interest (EOI) through SkillSelect program and have to be nominated by a state or territory government or Australian agency to be eligible to apply for this visa. There are many requirements regarding personal assets, business assets, annual turnover, minimum investment amounts in Australia, stay periods in Australia, etc.
- be nominated by an eligible government organization
- be invited to apply for the visa
- have experience in owning and running a business (Business Innovation stream)
- have an overall strong business career with no involvement in unacceptable business activities.
- have a real passion for owning and maintaining a management role in business in Australia
- have at least AUD 1.5 million to invest (Investor stream) or
- have at least AUD 5 million to invest (Significant Investor stream) or
- have at least AUD 15 million to invest (Premium Investor stream)
Also, you must
- meet additional requirements of the relevant stream.
- meet certain health and character requirements
- must sign an Australian Values Statement to establish that you will appreciate the Australian way of life and accept Australian laws
This visa allows you to live four years and three months
- You can invest, develop and make your entire new business with an Australian state or territory government.
- You can travel in and travel out of Australia
- You can bring your family from other countries to Australia
- You can apply for Permanent Residence (PR)