Are you a businessman? Do you want to settle permanently in Australia with your family? If yes, you have come to the right place. We can help you migrate to Australia as we have helped thousands of other businessmen.
Business Innovation and Investment Visa (Subclass 188) is one of Australiaโs official business migration programs that allow offshore businessmen to migrate to and do business in Australia. It grants temporary stay to investors so that they can perform business and investment operations in Australia.
Fortunately, this is a PR-pathway visa; successful investments and business operations will make the investor eligible to apply for Australian permanent residency with a Subclass 888 visa.
Business Innovation and Investment Visa of Australia has 4 streams, which are:
- Business Innovation Stream (Subclass 188 A)
Extendable with a Business Innovation Extension Stream Visa - Business Investor stream (Subclass 188 B)
- Significant Investor Stream (Subclass 188 C)
Extendable with a Significant Investor Extension Stream Visa - Entrepreneur Stream (Subclass 188 E)
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Business Innovation Stream (188A)
Individuals with a history of business activities and ownership can start a new business or buy ownership of an established business in Australia. These investors will be granted temporary residency in Australia to manage business operations.
Business individuals will be required to provide the following evidence:
- AUD 1.25 million of total assets (business & personal)
- AUD 750,000 of yearly turnover from existing business
- Business activities spanning
- 4 years (minimum) in the preceding 5 years, or
- 7 years (minimum) in the preceding 8 years
- Ownership over business
Ownership in business needs to satisfy the following conditions:
| Business Type/Performance | Required Minimum Stake |
|---|---|
| Turnover is less than AUD 400,000 | 51% |
| Turnover is greater than/equal to AUD 400,000 | 30% |
| Publicly listed company | 10% |
Processing Cost
Main applicant: AUD 6,270
Family members: AUD 3,135 per additional member aged 18 years or above, and AUD 1,565 per additional member aged under 18 years.
Stay time:
The stay period is 5 years
It is extendable with a Business Innovation Extension Stream Visa
Processing time:
- 25% of applications are processed within 14 Months
- 75% of applications are processed within 34 Months
Extension for 188A Visa
The 5-year temporary stay period on the 188A visa is extendable by 2-3 additional years with a Business Innovation Extension Stream Visa.
Additional Benefits:
- New family members can migrate to Australia if included under this visa.
- Newer businesses can be purchased in Australia for profits and portfolio expansion.
- Apply for Australian PR and Citizenship.
Cost for Visa extension
- AUD 755 for the main applicant.
- For family members, additional fees apply
- AUD 380 per family member aged above 18 years
- AUD 190 per family member aged below 18 years
Apply for PR with Subclass 888
The following criteria must be satisfied for successful business activity under the 188 visa to gain PR eligibility by applying with Subclass 888:
- Continue to own the business in Australia for 2 years before the application
- At least 50% business ownership if turnover is less than AUD 400,000; 30% if turnover is AUD 400,000 or higher.
- Register the business with an Australian Business Number
- Submit Business Activity Statements to the Australian Taxation Office
Business Investor Stream (188B)
Individuals with a minimum investment capability of AUD 2.5 million have greater opportunities to diversify their investments and profit from multiple sources under this visa and get temporary residency initially. The investments can be withdrawn once the investor has been granted PR.
The AUD 2.5 million will be distributed in separate sectors:
- AUD 500,000 into Venture Capital and Private Equity Funds to help entrepreneurial start-ups
- AUD 750, 000 as Approved Managed Funds into companies listed in the Australian Stock Exchange (ASX)
- AUD 1.25 million of โbalancing investmentโ as Managed Funds
AUD 2.5 million of net assets and a history of managing a qualifying (profitable) business is also a requirement to be eligible for this visa.
Processing Cost
Main applicant: AUD 6,270
Family members: AUD 3,135 per additional member aged 18 years or above, and AUD 1,565 per additional member aged under 18 years.
Stay time:
5 years which is not extendable.
Apply for PR next with a Business Innovation (Permanent) Stream 888 visa.
Processing time:
- 25% of applications are processed within 25 Months
- 75% of applications are processed within 39 Months
Significant Investor Stream (188C)
Similar to 188B, investors have the opportunity for greater profits on their diversified investments by investing AUD 5 million.
AUD 5 million is to be invested for 188C into the same sectors as for 188B.
| Investment sectors | 188B | 188C |
|---|---|---|
| Venture Capital and Private Equity Funds for entrepreneurial start-ups | Minimum AUD 500,000 | Minimum AUD 1 million |
| Approved Managed Funds in the Australian Stock Exchange, ASX-listed companies | Minimum AUD750, 000 | Minimum AUD 1.5 million |
| Managed Funds or โbalancing investmentโ | Minimum AUD 1.25 million | Minimum AUD 2.5 million |
| Total | Minimum AUD 2.5 million |
Minimum AUD 5 million |
Processing Cost
Main applicant: AUD 9,195
Family members: AUD 4,595 per additional member aged 18 years or above, and AUD 2,300 per additional member aged under 18 years
Stay time:
The stay period is 5 years which is extendable with a Significant Investor Extension Stream Visa.
Processing time:
- 50% of applications are processed in less than a year.
- 90% of the applications are processed in less than 2 years.
Extension of the 188C Visa
Extension of the 5-year 188C is available by 2-3 additional years with a Significant Investor Extension Stream Visa.
Additional benefits
- Continue your investment activities & business operations in Australia.
- New family members can migrate to Australia if included under this visa.
- Apply for Australian PR and Citizenship.
Apply for PR with subclass 888 (after provisional 188B & 188C)
You can apply for subclass 888 PR visa after the provisional 188B or 188C visa if you fulfil the following conditions:
- Stay in Australia for at least 2 years out of 3 years immediately before applying for PR
- Be committed to continuing your business in Australia after becoming a PR
- Abide by Australian laws during your provisional visa stay
Entrepreneur Stream (188E)
Entrepreneurs with the acumen to develop their own start-ups can apply for residency by establishing entrepreneurial businesses in Australia. They only need to present an innovative business idea that has the prospect of receiving a nomination from an Australian State or Territory government. No fixed monetary investment is obligatory under this visa as different start-ups require different levels of tailored investments.
The proposed business plan must comply with government policies and be designed to accomplish:
- Commercialization of a product or service that improves the quality of life of the Australian citizen by proposing real value.
- Establishment of a novel business or enterprise in Australia.
Activities applicants cannot include as a part of their entrepreneurial venture under this stream are: real estate purchase, acquisition of pre-established companies and human capital business
Residents under this visa will attain the right to purchase property in real estate and other forms as personal assets similar to Australian citizens after securing their Australian PR.
Processing Cost
Main applicant: AUD 4,240
Family members: AUD 2,120 per additional member aged 18 years or above, and AUD 1,060 per additional member aged under 18 years
Stay time:
The stay period is 5 years which is not extendable.
Apply for PR next with an Entrepreneur (Permanent) Stream 888 visa.
Processing time:
- 25% of applications are processed within 79 days
- 75% of applications are processed within 8 months
Apply for PR with subclass 888
Your 888 PR visa eligibility will only be valid if you have already satisfied the following requirements during your 188 visa period:
- Demonstrate at least 2 major success points of your entrepreneurial business in 2 years, or
- 1 major success point and 3 related accomplishments in 2 years
Examples of major success points and related accomplishments
Success point criteria:
- Business Turnover AUD 300,000 minimum
- Providing employment to Australian permanent residence; at least 2
- Attaining patents for any entrepreneurial innovation in your business
- Raising ongoing funds for your business
- Partnering with a university
- Selling your entrepreneurial business at no less than AUD 2 million
Related accomplishments criteria:
- experimenting with entrepreneurial innovation in other business areas
- recognition of your business accomplishments from the state or territory that nominated you.
- corporate sponsorship
- adding value to social capital
For greater eligibility, satisfying a combination of these success points and related accomplishments is a necessary factor.
Eligibility for the Business Innovation and Investment Stream (Subclass 188 & 888)
Each stream varies in requirements in terms of investments, personal assets and business activity history, as well as the Australian state you are applying for, however, there are some commonalities in eligibility criteria that apply to all main applicants under any of these streams.
- Age: 55 years and younger.
- 65 points minimum eligibility score (seek assistance from a migration agent).
- Valid Passports and other identity documents.
- Main applicants and family members must have decent character & good health.
- No history of visa refusal.
- Genuine intention for Permanent Subclass 888 visa application must be demonstrated.
- No intention of illegal conduct (business or personal).
- Business and investment ambitions that serve the Australian economy.
- Respect for the Australian value statement and genuine determination to live as a law-abiding citizen.
Additional Cost
For applicants and family members who lack English Language fluency, a second instalment is required which is refundable.
This refundable second instalment fee is NOT mandatory and may apply only if the main applicant or any dependent family member lacks the minimum English language requirement. This fee will be refunded if the visa is not granted.
Main applicant: AUD 9,795
Family members: AUD 4,890
Additional costs apply for health check-ups, police certificates and biometrics (fingerprint scans, photos etc).
How to Apply For Business Innovation and Investment (Provisional) 188 Stream?
Application for Subclass 188 provisional visa is lodged for getting temporary residency in any of the following Australian States and Territories based on a minimum 65 points score for eligibility:
- New South Wales
- ย Northern Territory
- Australian Capital Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
The Points-test table for Business Migration to Australia is provided below:
Steps in Getting this Visa
Obtaining Australian Business Migration Visa is a step-by-step process, which is described below:
1. Check your eligibility for state nomination
Assess your eligibility points score to find the state or territory from which you have greater chances of receiving a nomination. A registered migration agent can provide you with an accurate eligibility points assessment and provide you expert guidance in choosing the right state. Your eligibility points score will be calculated based on the following:
- Your age
- Your language and communication proficiency
- Qualifications (academic or other)
- History and duration of business activities
- Business turnover
- Net assets (personal and business)
- State or Territory endorsements (if any)
2. Expression of Interest (EOI)
Submit your EOI. The EOI must properly state the following information:
- Name the visa that you specifically want to apply for.
- Elaborate on your business skills, experience and history of related activities.
- Mention the State or Territory where you wish to start your business operations.
The Australian Department of Home Affairs (DHA) recommends that applicants should submit a well-rounded EOI that addresses all the necessary information and effectively communicates the prospective applicantโs potential to innovate in the Australian business sector.
3. State/territory nomination
The Australian Federal Government will assess your EOI and eligibility score to make a decision on your nomination.
4. Invitation to Apply
If nominated, the Australian state of your choice will send you the invitation letter to lodge your visa application.
5. Documentation
You must prepare all your valid documents with up-to-date information before lodging your visa application.
Your documents must include:
- Identity documents of yourself and family members
โ National Identity cards
โ Certificate of Marriage (proof of relationship with your spouse)
โ Name change documents (if any) - Asset documents (business & personal)
Personal (may also be owned jointly with your spouse)
โ Bank statements
โ Property mortgage and lease
โ Debt (personal and business) - Business
โ Certificate of Incorporation, MOA and AOA, business licence, shareholderโs certificate etc.
โ Financial statements (loans, shares, bonds etc.)
โ Assets, net cash, business ownership percentage etc. (not applicable for 188E)
โ Percentage ownership over your business (will not apply for 188), net cash and assets - ย Eligibility points score evidence
- Evidence of English language proficiency
- A statement confirming the intention to pay a second instalment fee if the applicants and family members lack functional English language skill
- Certificate of good health
- Character certificate (this will apply to all applicants aged 16 and above).
6. Visa application
Lodge your visa application with assistance from an experienced migration who is expert and ensure the processing and submission of the relevant documents on par with the official guidelines of the Department of Home Affairs
7. Visa grant
After the visa grant, you will have access to the following benefits:
- Moving to Australia with family and staying there for 5 years initially
- Sponsor other family members to Australia after visa grant
- Own and manage profitable businesses, diversify your investments, innovate on your own entrepreneurial start-ups in the state or territory that nominated you
- Extend your 188A & 188C provisional visa with the Extension streams ( Business Innovation stream & Significant investor stream)
- Apply for Australian PR with the Permanent Subclass 888 Visa.