This visa is closed as of 31 July 2024
Business Innovation and Investment Visa - Subclass 188
The Subclass 188 Business Innovation and Investment Visa is a provisional visa designed for individuals seeking to establish or manage a new or existing business in Australia or invest in the country. This visa allows business owners, investors, and entrepreneurs to live in Australia temporarily while they establish their business or investment activities. The visa also provides a pathway to permanent residency through the Subclass 888 Permanent Business Innovation and Investment visa.
Benefits of the Subclass 188 Visa
Pathway to Permanent Residency
Successful visa holders can apply for permanent residency via the Subclass 888 visa after meeting the required conditions
Access to Education and Healthcare
Subclass 188 visa holders and their families can access Australia’s public education system and healthcare services under Medicare
Business and Investment Opportunities
Visa holders can establish, own, or manage a business or make significant investments in Australia
Family Inclusion
You can include your partner and dependent children in your application, allowing them to live, work, or study in Australia
Multiple Entry
The visa allows multiple entries into Australia during its validity period, making it flexible for business operations
Different Streams of Subclass 188 visa
Business Innovation Stream
Purpose: For individuals with a proven track record of owning and operating successful businesses who intend to establish or manage a business in Australia.
Key Requirements
Applicants must have net business and personal assets of at least AUD 1.25 million that can be transferred to Australia within two years of visa approval.
They must have owned and managed a business with an annual turnover of at least AUD 750,000 for two out of the last four fiscal years.
Nomination by a state or territory government is mandatory.
Investor Stream
Purpose: For individuals who wish to invest in Australia and maintain a business or investment presence.
Key Requirements
Applicants must be willing to invest a minimum of AUD 2.5 million in complying investments in Australia (e.g., state or territory government bonds, managed funds, or Australian companies).
Must have net business and personal assets of at least AUD 2.5 million.
Applicants are also required to demonstrate at least three years of investment or business experience.
A nomination from a state or territory government is required.
Entrepreneur Stream
Purpose: For individuals with a funding agreement to carry out entrepreneurial activities in Australia, specifically innovation-driven business ventures.
Key Requirements
Must secure a funding agreement of at least AUD 200,000 from a third party (e.g., government agencies, venture capital funds, or investors) to undertake a complying entrepreneurial activity in Australia.
The entrepreneurial activity must focus on innovation in sectors such as technology, healthcare, and advanced manufacturing.
Applicants must be nominated by a state or territory government.
Significant Investor Stream
Purpose: For high-net-worth individuals looking to make a substantial investment in Australia.
Key Requirements
Requires a minimum investment of AUD 5 million in complying Australian investments, such as government bonds, managed funds, or directly into Australian companies.
There is no upper age limit, and no points test is required for this stream.
Applicants must maintain their investment in Australia for a minimum of four years.
Nomination from a state or territory government or Austrade is necessary.
Premium Investor Stream
Purpose: For individuals looking to make an ultra-high-value investment in Australia.
Key Requirements:
Requires a minimum investment of AUD 15 million in Australian ventures, businesses, or funds.
This stream is available by invitation only, and applicants must be nominated by the Australian government (Austrade).
There are no age limits or points test requirements for this stream, making it flexible for high-net-worth individuals.
Subclass 188 Visa
SPONSORSHIP REQUIREMENTS
PER STATE AND TERRITORY
Each Australian state or territory has its own sponsorship criteria for the Subclass 188 visa. Below is a brief overview:
New South Wales (NSW)
- Requires applicants to meet a higher threshold for business and personal assets compared to other states.
- Focus on key industry sectors like infrastructure, healthcare, and education.
Victoria
- Applicants must demonstrate a contribution to the state’s economy, particularly in innovation, advanced manufacturing, and technology.
- Significant Investor Stream applicants must align investments with Victoria's target sectors.
Queensland
- Queensland offers different nomination requirements depending on whether applicants intend to invest in Brisbane or regional Queensland.
- The state prioritizes investments in tourism, agriculture, and renewable energy.
South Australia
- South Australia focuses on innovation-led businesses and industries that align with state priorities such as defense, space, and creative industries.
Western Australia (WA)
- Offers flexible investment options and emphasizes contributions to regional development.
- The state encourages applications from investors and business owners in the agriculture and mining sectors.
Tasmania
- Focuses on applicants willing to invest in regional areas and industries such as aquaculture, renewable energy, and agribusiness.
Northern Territory
Seeks applicants who can contribute to the economic development of the territory, with a focus on tourism, mining, and agriculture.
Australian Capital Territory (ACT)
- ACT focuses on innovative industries and applicants must demonstrate how their business activities will benefit the local economy.
Current Processing Time: Subclass 188 Visa
When it comes to the processing timeline, several factors can impact your application. These include the quality of submitted documents and the volume of applications received by the Department.
| Stream | 50% applications are processed in | 90% applications are processed in |
|---|---|---|
| Business Innovation Stream | 30 Months | 48 Months |
| Investor Stream | 37 Months | 53 Months |
| Significant Investor Stream | 29 Months | 36 Months |
| Entrepreneur Stream | 16 Months | 24 Months |
| Premium Investor Stream | N/A | N/A |
Frequently
Asked
Questions
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Yes, you can include your spouse/partner and dependent children in your application.
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Yes, after meeting the specific requirements, you can apply for the Subclass 888 visa, which grants permanent residency.
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You must invest at least AUD 2.5 million in complying investments.
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No, the points test is required for some streams, such as the Business Innovation and Investor Streams. The Significant Investor Stream does not require a points test.
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The Subclass 188 visa is generally valid for 5 years.
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If your nomination is refused, you cannot proceed with the visa application. You may reapply for nomination or consider other visa pathways.