Business Innovation Stream (SC 188A) Visa
188A Visa Overview
This a provisional visa intended for foreigners who are planning to manage or operate an existing or new business in Australia. This is available to applicants who are nominated or invited by an Australian state or territory.
Benefits of this visa
Once granted this visa, you can be eligible to apply for permanent residency through the Business Innovation and Investment (Permanent) visa if certain qualifications are met.
Be with your family
Operating and managing a business is not an easy route to take especially if you’re doing it in a foreign country. However, with this visa, you can bring your family and loved ones with you to Australia.
Freedom to Travel
This is a multiple-entry visa. You can travel outside Australia and return as many times as you want while the visa is valid.
Visa processing time
Processing times for the Business Innovation Stream (Provisional) Visa (SC 188A) process will vary depending on various factors. Factors can include if documents submitted are sufficient or the Department receiving a high volume of applications. To give you an idea of what to expect, here’s an estimated timeline of how long your visa application may take to process.
50% of applications: Processing time is 31 months
90% of applications: Processing time is 41 months
To avoid any delays in your application, ensure that all the essential documents are accurately and promptly submitted. It is also important to stay updated with any visa policy changes as Australia’s immigration directives are changing over time.
Application process
Here’s a simplified breakdown of the Business Innovation Stream (Provisional) Visa (SC 188A) application process. If you’re having a hard time understanding this process, you can enquiry with us to find out more.
Check your qualifications
-
For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least:
AUD500,000 gross income in each of those 2 years if you were invited to apply before 1 July 2021
AUD750,000 gross income in each of those 2 years if you were invited to apply on or after 1 July 2021
Whether you have 1 or 2 businesses, you must own at least:
51%, of the total value of the business if the business has a gross income of less than AUD400,000 per year
30%, of the total value of the business if the business has a gross income of AUD400,000 or more per year, or
10%, of the total value of the business if the business is operated by a publicly listed company
-
When you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least:
AUD1.25 million if you were invited to apply on or after 1 July 2021.
AUD800,000 if you were invited to apply before 1 July 2021
Submit your EOI
In applying for this visa, you have to gain an invitation from an Australian state or territory. To do that, you have to submit an Expression of Interest (EOI). The Expression of Interest (EOI) outlines your skills, qualifications, and business experience and the state or territory you would like to operate in – and that you can meet the 65 points required to be invited to apply for this visa.
You receive points for your:
Age
Your financial assets
English language level
Your business turnover
Educational Qualifications
Business experience
Special endorsement from an Australian State or Territory
Business innovation qualifications
Get Nominated
After submitting your EOI, an Australian State or Territory government agency must nominate you to be able to apply for this visa.
Update: For the Financial Year 2023-2024, the Australian government didn’t release new allocations for the Business Innovation and Investment Program.
Apply for the visa
There is no specific timeline on when a State or Territory send their nomination to applicants. However, once you are granted a nomination, you can apply for this visa either onshore or offshore. It’s important to note that the State or Territory government agency that nominates you must not withdraw their nomination after you apply.
Cost
This visa costs AUD9,450.00 for the main applicant.
Additional applicant over 18 years old: AUD4,725.00
Additional applicant under 18 years old: AUD2,365.00
Any applicant 18 years old or older who has less than functional English must also pay an extra charge.
The second instalment charges are:
Main applicant: AUD9795
Family members: AUD4890
Requirements Per State
Victoria
To be eligible in the state of Victoria, you must:
Be under 55 years of age
Have achieved at least 65 points on the Australian Government’s points test for your Expression of Interest (EOI) in the Department of Home Affairs’ SkillSelect
Demonstrate innovation capability
Have at least 3 years of business experience
Demonstrate your proposed business is within your area of expertise
Be committed to establishing, operating and growing a Victorian business
Be committed to meet the requirements for permanent residence
New South Wales
To be eligible in the state of New South Wales, you must:
Be under 50 years of age
A Bachelor's degree holder, or have 3 years of business experience in the NSW target sector, or 5 years of business experiences in the non-target sector
Have 3 years of business experience in the NSW target sector or 5 years of business experience in a non-target sector
Has personal and business assets of at least:
If Sydney - AUD 1,750,000
If NSW regional areas - AUD 1,250,000
Have a qualifying ownership stake in up to two business that has a combined annual turnover of the below amount in two of the four most recent fiscal years
Sydney - AUD 1,250,000
Score at least 65 points, but you will be prioritized if you can claim 15 points for business experience, or points for business innovation qualifications
Queensland
To be eligible in the state of Queensland, you must:
Demonstrate a genuine commitment to Queensland
Have net personal business assets of at least AUD 1,250,000 ready to be transferred within 3 years of being granted a visa
Invest in one or two qualifying businesses in Queensland after being granted the visa:
If in Greater Brisbane or Gold Coast Regions - AUD 400,000
If in regional Queensland - AUD 300,000
Northern Territory
To be eligible in the state of Northern Territory, you must:
Must demonstrate a genuine intention to establish or participate in a business or investment activity located within the NT
Must demonstrate a genuine intention to reside within the NT
The proposed business or investment activity is assessed to be of benefit to the NT economy
Applicant must have sufficient financial capacity to undertake the proposed investment, and to fund resettlement
Priority will be given to any proposals of business and investment activities that create local employment
Priority will be given to any proposals of business and investment activities that encourage growth within any key sectors of the NT economy
South Australia
To be eligible in the state of South Australia, you must:
Be under 55 years of age
Have achieved at least 65 points on the Australian Government’s points test for your Expression of Interest (EOI) in the Department of Home Affairs’ SkillSelect
Demonstrate innovation capability
Have at least 3 years of business experience
Demonstrate your proposed business is within your area of expertise
Be committed to establishing, operating and growing a Victorian business
Be committed to meet the requirements for permanent residence, and
Tasmania
To be eligible in the state of Tasmania, you must:
Be able to invest at least A$200,000 to establish a new business or purchase an existing business in Tasmania
Have a realistic, well-researched and plausible business plan
Demonstrate that you have or can acquire the relevant knowledge, skills, experiences, qualifications, licenses etc. to undertake senior level day-to-day and strategic management of the business in Tasmania
Have sufficient settlement funds to settle in Tasmania
Intend to live in Tasmania and contribute to Tasmania’s economy while you hold the visa
Agree to nomination undertakings
Western Australia
To be eligible in the state of Northern Territory, you must:Must have an understanding of Australia’s Northern Territory (NT) business and investment
Must have genuine intentions to actively pursue business or investment in the NT
Must have the financial capacity and business acumen to support your activities
Accreditation
Words from our clients
-
![]()
Laura Bajurny
⭐⭐⭐⭐⭐
The team at Think Visa has been excellent throughout the whole process. Devonne has always been very quick to respond and….
-
![]()
Cherono Chemweno
⭐⭐⭐⭐⭐
I received outstanding service. Excellent communication and swift action/response that made the experience even better than….
-
![]()
Simon Pitt
⭐⭐⭐⭐⭐
Brilliant service from this company, could not fault them in any way. We got the 820 visas after having problems on our own
-
![]()
fairdingkumAussie
⭐⭐⭐⭐⭐
I could not have done this on my own. The entire team at ThinkVisa made a very cumbersome process, very manageable. A big thanks to….
-
![]()
Sanka G
⭐⭐⭐⭐⭐
Very professional and efficient service. Promptly responds to any questions or queries. Young and team are very detailed, thorough….
-
![]()
Katharine Kinnie
⭐⭐⭐⭐⭐
I'm very grateful for the help that the Think Visa team gave me with extending my visa. They were quick to contact me, very efficient with….
-
![]()
Huang Jing
⭐⭐⭐⭐⭐
The service is absolutely professional and their responses to the enquiries are always prompt and helpful. In the application….
-
![]()
Angela Grant
⭐⭐⭐⭐⭐
We are really grateful for the help we were given by the Think Visa team. They are quick to respond to questions and are always friendly….
Expert lawyers, just a click away.
Let us solve your migration problems. We provide:
Trusted legal advice with peace of mind for your migration journey
Prepare, lodge and liaise with the Department on behalf of you and your family
Project-manage the application until the visa is granted and bring you to Australia