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188B Business Innovation and Investment (Provisional) visa – Investor stream


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

188b Investor stream 

This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia. 

Applicant must have: 

  • make an investment of AUD1.5 million in an Australian State or Territory 
  • score at least 65 on the points test 
  • have net business, investment and personal assets of at least AUD2.25 million 

 

Eligibility 

1. Be nominated: 

You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa. 

The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa. 

2. Own and manage business and personal assets and investments: 

Have managed a qualifying business or investments to the value of at least AUD1.5million. 

For at least 1 of the 5 fiscal years immediately before we invite you to apply, have directly managed one of the following: 

  • a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or 
  • a eligible investment of at least AUD1.5 million owned by you, your partner or you and your partner combined. 

3.Have the right experience: 

  • have at least 3 years’ experience managing one or more qualifying businesses or eligible investments 
  • have a successful record of eligible investment or qualifying business activity 
  • have demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity 

4.Score at least 65 on the points test 

You must score at least 65 points on the points test. 

You can get points for many reasons, including your:  

  • age 
  • English language ability 
  • qualifications 
  • business experience 
  • net personal and business assets 
  • business turnover 
  • innovation 
  • special endorsement 

 

5.Intend to live in a specific State or Territory:You must have a genuine intention to live for at least 2 years in the State or Territory in which you have made the investment application. 

6. Be under 55: 

You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa.  If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit. 

7. Not have a history of involvement in unacceptable activities: You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. 

8. Have functional EnglishAll applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge 

9. Meet other requirements: 

  • Meet our health requirement 
  • Meet our character requirement 
  • Sign the Australian values statement 
  • Have no debt to the Australian Government 
  • Not have had a visa cancelled or a previous application refused 

 

Application Cost 

This visa costs AUD5,375 for the main applicant 

There is also a charge for each family member who applies for the visa with you: 

  • additional applicant over 18 years old: AUD2,685 
  • additional applicant under 18 years old: AUD1,345 

The second instalment charges are: 

  • main applicant: AUD9795 
  • family members: AUD4890.  

 

Business Innovation and Investment (Permanent) visa (subclass 888) 

888b Investor stream 

This visa lets you continue your investment activities in Australia permanently. 

 You must have: 

 

Eligibility 

1. Have this visa: 

You must be the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream. 

You can also apply as the primary applicant if you are the secondary visa holder of a Business Innovation and Investment (Provisional) visa and: 

  • your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa in the Investor stream 
  • you meet all the primary criteria requirements of the Business Innovation and Investment (Permanent) visa stream 

2. Be nominated: 

You must have a current nomination from a state or territory government agency. 

When you applied for your provisional visa, you gave us an Expression of Interest. A state or territory saw your Expression of Interest and nominated you. 

You do not need to provide a new Expression of Interest. But the state or territory needs to confirm that your nomination is still current. 

3. Have followed Australian laws: 

When operating your business in Australia, you and your partner must have followed: 

  • Commonwealth laws 
  • the laws of the states or territories where your business operated 

This includes laws about taxation, superannuation and workplace relations. 

4.Functional English: 

You might have to pay an extra charge for any dependent applicant 18 years old or older who has less than functional English. If they can’t show that they have at least functional English, they will need to pay the second instalment of the visa application charge when we ask you to. 

They will not need to pay a second instalment if they have already paid a second instalment of the visa application charge in relation to an application for a Subclass 188 (Business Innovation and Investment (Provisional)) visa. 

5.Meet the residence requirement: You must have lived in Australia for at least 2 of the 4 years immediately before you apply. 

6. Not have been involved in unacceptable business activities: You and your partner must not have been involved in any business or investment activities that are unacceptable in Australia. 

7. Have a realistic commitment to continuing business activities: You must have a realistic commitment to continuing your business and investment activities in Australia. 

8. Meet other requirements: 

  • Meet our health requirement 
  • Meet our character requirement 
  • Sign the Australian values statement 
  • Have no debt to the Australian government 
  • Not have had a visa cancelled or a previous application refused 

 

Application Cost 

 The visa costs AUD2,590 for the main applicant. 

The second instalment charge is AUD4,890. 

  • an extra charge for any applicant 18 years old or older who has less than functional English 

You might also have to pay other costs for health checks, police certificates and biometrics. 

To work out what your visa will cost use the Visa Pricing Estimator. The estimator does not take into account the second instalment or other costs. 

 

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