The Business innovation and investment visa involve a 2-stage application process. At the first stage business migrants apply for a provisional visa and then if they meet certain criteria, they apply for a permanent visa.
Business Innovation stream is for people who want to own and manage a new or existing business in Australia.
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.
If you are in the Business Innovation stream, you (or your partner, or you and your partner combined) must:
If you apply for the Investor stream, you (or your partner, or you and your partner combined) must:
188 visa is a temporary visa valid for up to 4 years and permits you to own (or part own) an Australian business. Immediate family members (such as a partner and dependent children) included on the application is also entitled to live, work and study in Australia. This visa also establishes a pathway to permanent residence, upon satisfying certain requirements.
If you have applied for the Business Innovation stream, a 2-year extension is possible once you have held the subclass 188 visa for 3 years, giving you 6 years from the date of grant of the original visa.