Business Innovation and Investment Provisional subclass 188 visa

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

Features

The visa has two streams.

  • The Business Innovation stream is for people who want to own and manage a new or existing business in Australia.
  • The Investor stream is for people who want to make a designated investment in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.
  • The Significant Investor stream is for people who are willing to invest at least AUD5million into complying investments in Australia and want to maintain business and investment activity in Australia after the original investment has matured.

 

About this visa

This visa allows you to:

  • Establish a new or develop an existing business in Australia (the Business Innovation stream)
  • Make a designated investment with an Australian state or territory government (the Investor stream)
  • Invest at least AUD5 million in Australia (the Significant Investor stream).

 

Who can apply?

You can apply for this visa if you:

  • Are invited to apply
  • Have a successful business or investment history
  • Have adequate personal and business assets
  • Were nominated by a state or territory government

 

Costs

  • The minimum charge for this visa application AUD4065

 

The provisional Business Innovation and Investment visa is part of the Australian Business Innovation and Investment Program. You must submit an Expression of Interest through SkillSelect and be invited to apply for this visa.

The visa has three streams:

  • The Business Innovation stream is for people who want to own and manage a new or existing business in Australia.
  • The Investor stream is for people who want to make a designated investment in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.
  • The Significant Investor stream is for people who are willing to invest at least AUD5 million into complying investments in Australia and want to maintain business and investment activity in Australia after the original investment has matured. More information about the new visa pathway for migrant investors is available.

 

Innovation points test

  • The Business Innovation stream
  • The Investor stream

 

If you are in the Significant Investor stream, the innovation points test does not apply to you.

The innovation points test gives points for various elements of human capital and business innovation. The test also includes objective measures of business performance. It aims to select innovative entrepreneurs who will transfer their skills to Australia and diversify our existing pool of business expertise.

Points are awarded for:

  • Age
  • English language ability
  • Qualifications
  • Experience in business or investment
  • Net personal and business assets
  • Business turnover
  • Innovation
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