Business Innovation and Investment (Provisional) (Subclass 188) Visa
This visa subclass has two streams: the Business Innovation stream, which is for applicants who wish to own and manage a new or existing business in Australia; and the Investor stream, which is for applicants who wish to make a designated investment in a state or territory and want to maintain business and investment involvement in Australia once the original investment has matured. Applications in this category are by invitation only.
In order to be invited to apply under this category, applicants must meet the following requirements:
- have lodged an Expression of Interest (EOI)
- be nominated by a state or territory government
- be less than 55 years of age
- have a successful investment and/or business history
- have sufficient personal and business assets
- score at least 65 points on the innovation points test.
Points on the innovation points test are awarded for a variety of factors, including age, English language ability, qualifications, business and investment experience, business turnover and innovation. Occasionally the nominating state or territory can award an applicant with an additional 10 points if they believe that the proposed business will be of exceptional benefit to them.
Other requirements for this visa category depend on whether you choose the Business Innovation or Investor stream. Once you have obtained this visa, you and your dependent family members are able to travel in and out of Australia for up to five years, and to eventually apply for permanent residence. For further details, please contact us.
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