Business innovation and Investment (Provisional) visa - Subclass 188

Business innovation and Investment (Provisional) visa – Subclass 188

Business Innovation & Investment Subclass 188 visas are for investors and business owners who wish to establish business operations in Australia

This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia. The visa holder can stay in Australia for 4 years with options to extend.

This visa is available in streams:

Business Innovation stream

This stream is for people with business skills. It lets you operate a new or existing business in Australia.

Eligibility:

You are under 55 years of age , exceptions are available .
You must have a successful business career and a genuine desire to continuously own and manage a business in Australia.
you must score at least 65 points in the points test
you own a business with a turnover of AUD 500,000 in each of 2 of the last 4 fiscal year.
you and/or your partner hold net personal and business assets of AUD 800,000 that can be transferred to Australia for your business activity
You must have atleast Functional English or will be asked to pay the second instalment.

In this stream you can stay in Australia for 4 years with a pathway to permanent residence if eligible, through the permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream.

Investor Stream

This stream is for people who are willing to invest AUD 1.5 million in an Australian State or Territory and maintain business and investment activity in Australia.

Eligibility:

You are under 55 years of age , exceptions are available.
you must score at least 65 points in the points test.
For at least 1 of the last 5 fiscal years, you have directly managed either a qualifying business in which you and/or your partner hold a 10% shareholding, or an eligible investment owned by you and/or your partner which has a value of AUD1.5 million.
over the last 2 fiscal years, you and/or your partner have acquired net personal and business assets of AUD2.25 million that can be transferred to Australia for your investment and/or business activity
you and/or your partner are willing to invest AUD1.5 million in a State or Territory Government security, are willing to hold that investment for 4 years, and you genuinely intend to live for at least 2 years in the State or Territory in which you have made an investment
you have 3 years’ experience in directly managing qualifying businesses or eligible investments
You have atleast Functional English or will be asked to pay the second instalment

Significant Investor Stream

This stream is for people willing to invest AUD 5 million in Australian investments that meet certain requirements and maintain business and investment activity in Australia. This stream does not have an age limit.

Eligibility:

You must make a complying significant investment of at least AUD5 million in a certain type of investment (for example, Australian government bonds), are hold that investment for 4 years, and you genuinely intend to live in the State or Territory in which you are nominated .
your complying significant investment should be in the following proportions:
- At least AUD 500,000 in venture capital and growth private equity funds, which make investment in start-ups and small private companies
- At least AUD 1.5 million in approved managed funds that invest in emerging companies listed on the Australian Stock Exchange

All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law
You have at-least Functional English or will be asked to pay the second installment

Premium Investor Stream

This stream is for people who are nominated by the CEO of Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.

Eligibility :

You must make a complying premium investment of at least AUD 15 million in any of the following options:

Australian government or semi-government bond or notes
- Australian proprietary limited companies
- Australian securities exchange listed assets
- State or territory government approved philanthropic contribution
- Deferred annuities issued by Australian registered life companies
- Australian exchange listed entity issued corporate bonds or the investment grade rated bonds by an AFS licensed debt rating agency

You, your partner or both combined must have net assets of at least AUD 15 million that are lawfully acquired and available to use to make the complying investment in Australia
All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law

Entrepreneur Stream

This stream is for people who have a funding agreement from a third party for at least AUD 200 000 to carry out entrepreneurial activity in Australia. This visa allows you to stay for up to 4 years and 3 months.

Eligibility:

You must be less than 55 years of age
You must have at least competent English.
Have a genuine intention of undertaking and continue a complying entrepreneur activity in Australia
A complying entrepreneur activity must relate to an innovative idea that will lead to:
- the commercialisation of a product or service in Australia, or
- the development of an enterprise or business in Australia

Your complying entrepreneur activity must not be related to residential real estate, labour hire or purchasing an existing enterprise or a franchise in Australia
You must have one or more legally enforceable agreements to receive funding with a total of at least AUD 200,000. The funding must be from one of the following entities:
Commonwealth Government agency
State or territory government
Publicly funded research or innovation organisation
Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003
Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership
You must also have a business plan for the entrepreneurial entity

Will Migration can assist you in the application process for the Subclass 188 Business innovation and Investment (Provisional) visa.