Business Innovation & Investment Subclass 188 visas are for investors and business owners who wish to obtain Permanent Residence in Australia either
- by establishing business operations in the nominating State in Australia OR
- by making an investment into the nominating State Government Designated fund(s)
Subclass 188 visas are provisional visas leading to subclass 888 permanent visas once the conditions are fulfilled for making a valid application for subclass 888 in the respective stream.
There are 5 eligibility streams:
This visa is for successful business owners or investors from overseas who are willing invest in new or existing business in Australia or make designated investment in Australia State or Territory government bonds. Given for 4 years and 3months initially, extendable by another 2 years. You can apply for Subclass 888 after 2 years if the requirements for this visa are met as per the regulations.
This is a given for 4 years and 3 months. Once you have maintained the designated investment in the nominating State of Territory in Australia for 4 years, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.
This is for people who are willing to invest at least AUD 5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government. This is initially given for 4 years and 3 months and can be extended by another 4 years
This is for people who are willing to invest at least AUD15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
This is for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.
Streams 1 and 2 are points tested. Details of points test are here
The following is a summary of the various subclasses and the second stage for PR
|Subclass 188 Stream||Points Tested?||Age||Turnover|
(2 of last 4 yrs)
|Ownership interest in business – conditions||Net P+B assets||Qualifying business or Eligible investment experience||Designated/Significant investment|
|Stage 2: Subclass 888 conditions|
|Business Innovation Stream||Yes, 65||<55||AUD 500,000||Own at least one of the following percentage of your nominated main business:|
– 51 %, if the business has a turnover of < AUD400 000/yr
– 30 %, if the business has a turnover of > AUD400 000/yr
– 10 %, if the business is a publicly listed company
|> AUD 800,000||NA||NA||1) At least 1 year in the 2 years held 188 visa in Aus|
2) ABN, BAS for 2 years
3) annual turnover of at least AUD300 000 from the main business (or businesses) in the 12 months before you apply
-51 %of business with a turnover < AUD400K/yr
-30 %of business with a turnover > AUD400K/yr
-10 %of publicly listed company
4) > 200K Business Assets in Australia
5) >600K personal_business assets
6) Employed at least 2 PR/citizens for a year
|Investor Stream||Yes, 65||<55||NA||For at least one of the 5 fiscal years immediately before you are invited 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
– eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5M.
|during the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25M that are available for legal transfer to Australia within two years of the visa being granted||3 yrs||AUD1.5M in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and to hold that investment for at least four years from date of nomination||1) At least 1 year in the 2 years held 188 visa in Aus|
2) Held designated investment for at least 4 years
|Significant Investor stream||No||NA||NA||NA||You, your partner, or you and your partner combined must have net assets of at least AUD5M that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia||NA||complying significant investment of at least AUD5 M over four years in the following proportions:|
– At least AUD500 000 in venture capital and growth private equity funds which invest in start-ups and small private companies.
– At least AUD1.5M in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.
A ‘balancing investment’ of at least AUD3M in managed funds that may invest in a range of assets, including ASX-listed companies, Australian corporate bonds or notes, annuities and commercial real estate.
|1) At least 40 days per year or 180 days per year for spouse held 188 visa in Aus|
2) Held complying investment for at least 4 yrs
|Premium Investor Stream||No||NA||NA||NA||You, your partner (spouse or de facto), or you and your partner combined must have net assets of at least AUD15M that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.||NA||complying investment of at least AUD15 million||1) At least 1 year held 188 visa|
2) Held complying previus investment for at least 1 yr