Business Innovation and Investment (Provisional) visa (subclass 188) 

This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia

Investor Stream

This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.

With this visa, you can

• carry out business and investment activity in Australia

• stay in Australia for up to 4 years and 3 months

• bring eligible members of your family unit with you

• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met

How long you can stay

This is a provisional visa. You can stay in Australia for up to 4 years and 3 months. 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.

Stay longer

This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met. 

Your obligations

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

In particular, you must commit to continue to maintain your investment and comply with Australian workplace laws.

To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Investor stream, you must live in the State or Territory in which you made the designated investment for at least 2 years during the period your provisional visa is valid.

Maintain your investment

You must genuinely have a realistic commitment to continue to maintain business or investment activity in  Australia after the designated investment matures. 

To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, you must maintain your investment in an Australian state or territory for at least 4 years.

Income that you earn from your investment in Australia is subject to Australian taxation law.

Eligibility

Be nominated

You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa.

Own and manage business and personal assets and investments

You must:

Have managed a qualifying business or investments to the value of at least AUD1.5million. 

For at least 1 of the 5 fiscal years immediately before we invite you to apply, have directly managed one of the following:

• a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or

• a eligible investment of at least AUD1.5 million owned by you, your partner or you and your partner combined.

Have assets of AUD2.25 million

For the 2 fiscal years immediately before we invite you to apply, you, your partner, or you and your partner together, have business and personal assets with a net value of at least AUD2.25 million. These assets must have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted.  

Make an investment of AUD1.5 million in your nominating State or Territory

After you lodge your application, you must make a designated investment of at least AUD1.5 million in the State or Territory in which the nominating State or Territory government agency is located. This investment must be in your name or in your name and your partner’s name. The investment must be made from unencumbered funds generated from qualifying businesses or eligible investments. To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, you must hold the designated investment for at least 4 years from the date the investment certificate is issued by your nominating State or Territory.

Have the right experience

You must:

• have at least 3 years' experience managing one or more qualifying businesses or eligible investments

• have a successful record of eligible investment or qualifying business activity

• have demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity

Score at least 65 on the points test

You must score at least 65 points on the points test.

You can get points for many reasons, including your: 

• age

• English language ability

• qualifications

• business experience

• net personal and business assets

• business turnover

• innovation

• special endorsement

Intend to live in a specific State or Territory

You must have a genuine intention to live for at least 2 years in the State or Territory in which you have made the investment application.

Be under 55

You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your investment will be of exceptional economic benefit.

Not have a history involvement in unacceptable activities

You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

Have functional English

All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay  the second instalment of the visa application charge. 

Meet the health requirement

You and any family members who apply for the visa with you must meet our health requirement.

Meet the character requirement

You and family members aged 16 years and over who apply for the visa with you must meet our character requirement.

Not have had a visa cancelled or a previous application refused

You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia. 

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