1st Stage Provisional Business Skills Visas - Temporary Residence

Business Innovation and Investment (Provisional)

Subclass 188 

This visa is by invitation only, and necessary to first lodge an Expression of Interest through SkillSelect. Once an invitation has been received, an application for the visa may be made. The Subclass 188 visa includes four streams;

  • Business Innovation stream:

    For people with professional business skills who wish to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.

  • Investor stream:

    For people who want to make a designated investment of at least AUD1.5million in an Australian state or territory, and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.

  • Significant Investor stream:

    For people who are willing to invest at least AUD5million 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.

  • Premium Investor stream:

    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.
     

Business Innovation and Investment visa:

To be eligible to come to Australia you need to show that you have an overall successful business career and;

  • Have been nominated by a  state or territory government, or Austrade;

  • Be less than 55 years of age;

  • score a minimum 65 points on the Innovation points test;
     

For Business Innovation stream:

  • For at least 2 of the 4 fiscal years immediately before your application, you owned and managed a business or businesses with an annual turnover of at least AUD500,000;

  • own at least one of the following percentage of your nominated main business:

    • 51 per cent, if the business has a turnover of less than AUD400 000 per year;

    • 30 per cent, if the business has a turnover of AUD400 000 or more per year;

    • 10 per cent, if the business is a publicly listed company;

  • have a genuine desire to continuously own and maintain a management role in a business in Australia.
     

Investor stream:

  • Have a net value of AUD 2.25 million for last two financial years and be available for legal transfer to Australia within 2years of the visa being granted;

  • Have a high level of management skill in relation to eligible investments;

  • Make a government approved investment of AUD 1.5 million (required to be paid prior to visa grant);

  • Have direct involvement in at least 1 of last 5 financial years in managing investments of AUD 1.5 million;
     


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