Subclass 188: Business Innovation and Investment (Provisional) visa

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Step into a realm of boundless opportunities with the 188 Visa Australia, where dreams take flight and aspirations find a new home.

This visa beckons entrepreneurs, investors, and innovators to embark on a transformative journey, unlocking the gateway to a vibrant and dynamic Australian future.

What is Australia Visa 188?

The Subclass 188 Visa, a state-nominated 5-year provisional Business Innovation and Investment visa in Australia, serves as a precursor to permanent residency through the Subclass 888 visa.

Tailored for business owners, investors, and entrepreneurs, this pathway contributes to Australia's economic growth and innovation, offering specialized streams like Business Innovation, Investor, and Significant Investor.

Business Innovation and Investment Visa Australia: Immigration Streams

The Australia Business Innovation and Investment Provisional Visa (Subclass 188) offers various streams to entrepreneurs and business persons to immigrate to Australia. These include:

  • The 188A – Business Innovation Visa Australia is a 5-year provisional visa for those intending to invest a minimum of $200,000 to establish or acquire a business in Canberra.
  • The 188A – Business Innovation Extension stream is designed for subclass 188 visa holders seeking a two-year extension to fulfill requirements for a permanent subclass 888 visa.
  • The 188B – Investor stream offers a provisional 5-year visa for individuals looking to invest A$2.5 million in Complying Investments.
  • The 188C – Significant Investor stream is for those aiming to invest A$5 million in Complying Investments over a 5-year period.

Business Innovation Stream - Subclass 188

Under the Business Innovation stream of Subclass 188a visa checklist, applicants seeking to operate either an existing or new business in Australia can apply. To be eligible:

  1. Financial Requirements Criteria Australia 188a include
    1. Possess a Net Worth of AUD 800,000.
    2. Operate a business with an annual turnover of at least AUD 500,000 for two years within the past four financial years before applying.
    3. Maintain ownership of at least 51% for businesses with a turnover of less than AUD 400,000, or at least 30% ownership for those with a turnover of AUD 400,000 or more.
    4. Hold a minimum of 10% ownership if the business is publicly listed.
  2. Score a minimum of 65 points in the point-based system.
  3. Receive a nomination from a state or territory government.
  4. Successful applicants under this stream can stay in Australia for 4 years and 3 months.

Business Innovation Extension Stream - Subclass 188

The Business Innovation Extension stream within Subclass 188 is designed for holders of the Business Innovation and Investment (Provisional) visa (subclass 188) seeking a 2-year extension of their stay in Australia. To be eligible for this stream under Australia 188a:

  • Applicants can only hold one Business Innovation and Investment (Provisional) visa (subclass 188).
  • Must have held the subclass 188 visa under the business innovation stream for a minimum of 3 years.
  • Should be nominated by a state or territory.
  • Successful applicants under this stream can extend their stay for 2 more years, allowing a maximum stay of 6 years in Australia from the date the subclass 188 visa was initially granted.

Also Read: Australia Business Visa from India: Subclass 600

Investor Stream - Subclass 188

The Investor Stream within Subclass 188 is tailored for applicants aiming to sustain business or investment activities with a commitment to investing AUD 1.5 million. To be eligible for this stream Australia 188b:

  1. Applicants should be below 55 years of age unless exempt.
  2. Maintain a Net Worth of AUD 2.25 million.
  3. Reside in the nominated province for a minimum of 2 years.
  4. Make a significant investment of AUD 1.5 million in an Australian state or territory.
  5. Achieve a minimum of 65 points in the point-based system.
  6. Obtain nomination from a state or territory government.
  7. Successful applicants under this stream can stay in Australia for 4 years and 3 months.

Significant Investor Stream - Subclass 188

The Significant Investor stream within Subclass 188c visa Australia is tailored for applicants intending to invest a minimum of AUD 5 million in Australian investments that meet specified criteria, while actively managing their investment activities. To qualify Australia 188c:

  • Applicants should be below 55 years of age.
  • Possesses a Net Worth of AUD 5 million.
  • Make a compelling investment or a significant investment of at least AUD 5 million over 4 years.
  • Obtain nomination from a state or territory government or Austrade.
  • Successful applicants under this stream can stay in Australia for 4 years and 3 months.

Entrepreneur Stream - Subclass 188E - the Entrepreneur Stream (Australia 188e Visa), which allows applicants to engage in entrepreneurial activities in Australia, is currently closed due to a low volume of applications.

Not just it, we have also listed down the less prominent visa pathways that you could explore as alternative visa options.

Significant Investor Extension Stream - Subclass 188

Applicants of the Business Innovation and Investment (Provisional) visa (subclass 188) are eligible to apply for a 4-year extension under this particular stream.

  • Holding only one Business Innovation and Investment (Provisional) visa (subclass 188) is allowed.
  • A minimum of 3 years under the Significant Innovation stream or Significant Visa Extension stream is a prerequisite.
  • Nomination by a state or territory is required.

Also Read: Obtaining Australian Citizenship by Investment: A Comprehensive Guide

Premium Investor Stream - Subclass 188

This stream is open to applicants nominated by AUSTRADE, committed to investing a minimum of AUD 15 million in Australian investments and making philanthropic contributions that meet specified requirements.

  • A Net Worth of AUD 15 million is necessary.
  • Demonstrating a genuine intention to sustain business activities beyond the subclass 188 visa expiry is essential.
  • Nomination by Austrade is a mandatory requirement.
  • Successful applicants can stay in Australia for 4 years and 3 months under this stream.
 

Eligibility Requirements for Subclass 188 Visa Australia

Embarking on the journey towards the subclass 188 Visa demands adherence to specific eligibility 188 visa Australia requirement criteria, ensuring a seamless pathway to Australian residency. To qualify:

  • Secure a nomination from a state or territory government
  • Applicants should be below the age of 55 to be eligible for consideration.
  • Must meet the prescribed health requirements
  • Positive character assessment
  • Expression of Interest (EOI)
  • Australia Value Statement
  • Financial Compliance

Documents Required for Australia Visa Subclass 188

Now that you have understood the eligibility requirements for Business and Investment Visas Australia, further next in the row is to realize the documents to be gathered for the Business Innovation Visa (Subclass 188):

  • Recent Passport Copy
  • Detailed Business Plans and Objectives in Australia
  • 6 Months Bank Statements
  • Evidence of Business Ownership
  • Valid Business License
  • Recent Photographs
  • Verification of Asset Ownership
  • Submission of Form 1139A
  • Verification of Financial Status - Adequate funds in your bank account for the intended stay
  • Funding Agreement
  • Documentation for Point Test Assessment

Australia Point System for Subclass 188 Visa Australia

To qualify for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation or Investor stream, a minimum score of 65 points, known as the pass mark, is required through the points test.

*The points test is not applicable if applying under the Significant Investor, Premium Investor, Business Innovation Extension, or Significant Investor Extension streams.

The points test evaluates various aspects of human capital and business innovation, incorporating objective measures of business performance. Points are allocated for the following factors, all assessed at the time of the invitation to apply:

  • Age
  • English Language Ability
  • Qualifications
  • Experience in Business or Investment
  • Net Personal and Business Assets
  • Business Turnover
  • Innovation

The awarding of points is based on the criteria outlined in the corresponding table.

1. Age Factor

Age Range Points
18–24 years 20
25–32 years 30
33–39 years 25
40–44 years 20
45–54 years 15
55 and older 0

2. Language Proficiency

 
English Proficiency Points
Vocational English (IELTS 5 or equivalent) 5
Proficient English (IELTS 7 or equivalent) 10

3. Education Qualifications

 
Qualifications Points
Trade certificate, diploma, or bachelor's degree by an Australian education institute; or a bachelor qualification recognized by an educational institution of a recognized standard 5
A Bachelor degree in business, science, or technology by an Australian institution; or a bachelor qualification in business, science, or technology by an educational institution of a recognized standard 10

4. Financial Assets Value

 
Net Assets (AUD) Points
Not less than AUD1,250,000 5
Not less than AUD1,750,000 15
Not less than AUD2,250,000 25
Not less than AUD2,750,000 35

5. Business Turnover (Business Innovation Stream Only)

Annual Turnover (AUD) Points
Not less than AUD750,000 5
Not less than AUD1,250,000 15
Not less than AUD1,750,000 25
Not less than AUD2,250,000 35

6. Business Experience (Business Innovation Stream Only)

Business Experience Points
Not less than 4 years within the preceding 5 years 10
Not less than 7 years within the preceding 8 years 15

7. Business Experience (Investor Stream Only)

Investor Experience Points
Not less than 4 years 10
Not less than 7 years 15

8. Business Innovation Qualification

Qualifications Points
Patents or designs registered not less than 1 year before that time and used in the day-to-day activities of the main business 15
Trademarks registered not less than 1 year before that time and used in the day-to-day activities of the main business 10
Ownership in and day-to-day participation in the management of one or more main businesses operated under a formal joint venture agreement/is entered into no less than 1 year before the time 5
Ownership interest in a main business/s that derives no less than 50% of its annual turnover from export trade 15
Ownership interest in a main business/s not more than 5 years before with average annualized growth in turnover greater than 20% over 3 continuous fiscal years, and employing 10 or more employees in at least one of the 3 fiscal years 10
Ownership interest in a main business/s that received a grant from a government body in the home country of at least AUD10,000 or venture capital funding of at least AUD100,000 not more than 4 years before the time of the invitation 10

9. Special Endorsement

Special Endorsement Points
The nominating State or Territory government agency has determined that the proposed business is of unique and important benefit to the State or Territory where the nominating government agency is located 10

Application Process for Applying to Australia 188 Visa Nomination

To initiate the process for 188 nominations, individuals must first receive an invitation.

Upon ensuring eligibility based on ACT 188 nomination criteria, applicants can request an invitation by emailing migration@act.gov.au. In the email, they should articulate how their proposed business or investment will contribute economically to the ACT. The email must include the following attachments:

  • Summary of the proposed ACT business or investment.
  • SkillSelect Expression of Interest (EOI) record of response.
  • Information indicating any close family connection to Canberra. (if any)

It is crucial to note that receiving an invitation does not guarantee approval for ACT nomination. The application will undergo evaluation based on the demonstrated viability and economic benefits of the proposed ACT business.

Cost of Business and Investment Visa (Subclass 188) Australia

The cost of a Business Visa 188 is AUD5,375. However, the fees vary for different streams:

  1. Business Visa 188 Significant Investor Stream fee is A$7,880.
  2. Business Visa 188 Entrepreneur Stream, the fee is A$4,045.
  3. Business Visa 188 Premium Investor Stream incurs a fee of A$9,455.

You would also need to pay an additional fee based on the dependents accompanying you

Visa Applicants Over 18 Applicants Under 18
Business Innovation Stream $1,470 $730
Investor Stream $3,045 $3,045
Significant Investor Stream $4,465 $4,465
Premium Investor Stream $4,725 $4,725
Entrepreneur Stream $2,060 $2,060

Reap the Unmatchable Benefits of Business Visa 188 in Australia With GetGIS Assistance

The Business Visa 188 in Australia offers a four-year-plus journey for entrepreneurs. With flexibility for extension, a pathway to permanent residency, and hassle-free travel, it's a versatile choice. The inclusion of family members adds a personal touch. This visa sets the stage for a dynamic and enriching business adventure in Australia.

Looking for personalized expert guidance for your Australian Immigration assistance? GetGIS is here to help. Our consultants make sure that your immigration journey is seamless and stress-free. From documentation to visa process handling, IELTS and Language proficiency training, post-landing support, and more we have you covered.

Why wait any further? Book Your Free Consultation, right away.

Your Journey With Us

At GetGIS, we strive to provide a seamless and hassle-free journey for our clients who are seeking job-seeker visas for Germany, Sweden, and Austria. Here's what you can expect when you choose to work with us:

1. Initial Consultation

We begin by scheduling an initial consultation to understand your career goals, preferences, and eligibility for the job seeker visa.

2. Document Preparation

Once we have assessed your eligibility, we provide a comprehensive list of documents required for the job seeker visa application, and assist you in preparing the required documents.

3. Application submission

We review your application to ensure that all required documents are complete and accurate.

4. Job Search Assistance

Once you have obtained the job seeker visa, we provide job search assistance to help you find relevant job openings in your preferred sector and location.

5. Post-landing Assistance

We offer post-landing assistance to help you settle in your new country, including assistance with finding accommodation, opening a bank account, and other essential services.

Why choose GetGIS?

GetGIS is the leading immigration consultant for PR visas and Job Seeker visas. We adopt a unique approach of tech-enabled operation that helps the clients to have real-time progress mapped anytime and anywhere. Along with the advantage of 1:1 IELTS training, we have a whole range of IELTS self-training guides in store to ensure your interrupted training.

The benefits of associating with GetGIS include:

Why choose GetGIS?

  • Tech-enabled user interface

  • 1:1 dedicated immigration expert and country expert guidance

  • Job Search Assistance

  • Pre to Post PR assistance

  • 7 Bands guaranteed IELTS training and guidance

  • Transparent and competitive pricing

Frequently Asked Questions

How long is a Business Visa 188 valid for?

The Business Visa 188 is valid for four years and three months. While those who applied before July 1, 2015, have a vitality of only 4-years.

Can I stay longer while on a 188 visa in Australia?

Yes, you can apply for a new Business Visa 188 or opt for the business extension visa stream if you have a business innovation or significant investor stream.

Can I get a permanent residence with a Business Visa 188?

Yes, you can apply for permanent residence through the Business (Permanent) Visa 888. If applied before July 1, 2015, eligibility for permanent residence is after 3 years and 11 months.

Can I bring family members with a Business Visa 188?

Yes, you can include family members in your initial application and also sponsor additional family members to come to Australia.

Can I travel with a Business Visa 188?

Yes, the Business Visa 188 allows for multiple entries, allowing you to travel freely.

Frequently Asked Questions

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Our Offices

Bengaluru

E210, HustleHub Tech Park, 1, 27th Main Rd, ITI Layout, Sector-I, HSR Layout, Bengaluru, Karnataka, India - 560102

Gurgaon City Scape

Capital The City Scape 4TH Floor Sector 66 Gurgaon - 122018

Gurgaon BPTP

BPTP Centra One, 5th Floor Golf Course Extension Road, Sector 61 Gurugram, Ghata, Haryana - 122102

Kolkata

Godrej Genesis 15th floor 1509 Salt lake Sector 5 Kolkata - 700091

Chennai

The Executive Zone Shakti Tower 1, 766 Anna Salai Thousand Lights Chennai - 600002

Hyderabad

Reliance Humsafar, Door No. 8-2-618/2/201, Road No.11, Banjara Hills, Hyderabad - 500034

Mumbai

Kaledonia, 1st Floor, Sahar Rd, Andheri East, Mumbai, Maharashtra - 400069